4.463 billion Hong Kong dollars, Huaqin Technology launches H-share IPO

On April 15, Huaqin Technology officially launched its H-share IPO and is expected to be listed on April 23, becoming an intelligent product platform company listed on "A+H" dual platforms.

The issuance price does not exceed HK$77.7, 58.5482 million H shares are sold, and the net proceeds are expected to be approximately HK$4.463 billion. Among them, approximately 40.0% will be used for product-focused R&D investment to enhance technological strength; approximately 35.0% will be used to expand and optimize the company's manufacturing system; approximately 15.0% will be used for strategic investment and vertical integration; approximately 10.0% will be used for working capital and general corporate purposes.

This Huaqin Technology H-share IPO introduced 17 cornerstone investors, including JPM AM JPMorgan Chase (JPM) Asset Management, UBS AM UBS Asset Management, Gaoyi Assets, Lanxin Asia, Taikang Life Insurance, 3W Fund, Xinhua Asset Management, Everbright Financial Management, Ivy League, Tsinghua Education Foundation; and simultaneously introduced Jinghe Integration, Kingboard Group, OmniVision Group, Xiaomi Group, Shenghong Technology, Beijing Junzheng, and Awinic Electronics.

Information shows that Huaqin Technology was established in 2005. It is a platform company mainly engaged in the research and development, design, manufacturing and operation services of intelligent hardware products. It belongs to the intelligent hardware ODM industry. The company's product line covers smart phones, laptops, tablets, smart wearables (including smart watches, TWS headsets, smart bracelets, etc.), AIoT products (including smart POS machines, automotive electronics, smart speakers, etc.) and servers and other smart hardware products.

Financial data shows that the company's revenue in 2023, 2024, and 2025 will be 85.338 billion yuan, 109.9 billion yuan, and 171.4 billion yuan respectively; gross profits will be 9.337 billion yuan, 9.884 billion yuan, and 13.23 billion yuan respectively; profits during the period will be 2.657 billion yuan, 2.916 billion yuan, and 4.132 billion yuan respectively.