Recently, a number of lighting companies have announced the latest progress in their listings. Among them, Yaotai Technology and Hualai Technology's applications for listing on the Beijing Stock Exchange have been accepted respectively.
The IPO application of Yaotai Co., Ltd. was accepted by the North Exchange
The official website of the North Exchange showed that on June 27, the IPO application of Yaotai Co., Ltd. was accepted.
Founded in 2006, Yaotai Co., Ltd. is a manufacturing company specializing in outdoor lighting products. The company is headquartered in Yuyao, Zhejiang, the "hometown of lighting fixtures." The company initially started as an OEM manufacturer. In recent years, it has gradually transformed into an independent brand operator, forming four series of products: courtyard lighting, intelligent lighting, solar lighting and task lighting.
Yaotai Co., Ltd. owns independent brands such as "LUTEC" and "UME". Its products are mainly sold through online platforms such as Amazon and Tmall, as well as offline channels of mainstream European and American retailers such as Costco, Masdar, and Leroy Merlin.
According to the prospectus, the sales revenue of Yaotai Shares is mainly from overseas sales. From 2022 to 2024, the company's overseas main business income will be 463 million yuan, 469 million yuan and 535 million yuan respectively, accounting for 95.60%, 96.76% and 97.18% of the main business income respectively. Among them, revenue from North American and European customers accounts for a relatively high proportion.
In this listing, Yaotai Co., Ltd. plans to raise 372 million yuan, of which 151 million yuan will be used for "annual production of 1.5 million sets of LED appliance production line technology."
Technology Transformation Project", 125 million yuan was used for the "Thailand Intelligent Lighting Lamps Production Base Construction Project", and the remaining funds were used for the "R&D Center Construction Project" and "Supplementary Working Capital Project".
Hualai Technology’s IPO application has been accepted by the Beijing Stock Exchange
On June 30, according to the public issuance and listing information of the Beijing Stock Exchange, Hualai Technology’s IPO has been accepted.
Hualai Technology is a company specializing in smart home products. It mainly provides customized solutions for smart cameras, smart lighting and other products for brands such as Xiaomi, Wyze, and Roku. The funds raised by the company from this listing are planned to be used for the "new generation smart home camera industrialization project" and the "R&D center construction project", totaling 318 million yuan.
The prospectus shows that in 2024, Hualai Technology will achieve operating income of approximately 887 million yuan, a year-on-year decrease of 14.91%; net profit attributable to the parent company will be approximately 82.5238 million yuan, a year-on-year increase of 2.3%. Among them, Xiaomi Communications brought 241 million yuan in sales to Hualai Technology, accounting for 27.18%, making it the company's second largest customer.
In terms of smart lighting, Hualai Technology has deployed subsidiaries such as Huaju IoT, Huzhou Hualai, Huzhou Xinju, and Huaju Trading. From 2022 to 2024, the sales revenue of smart lighting products will be 81.2989 million yuan, 22.9986 million yuan, and 21.6241 million yuan respectively, accounting for 9.27%, 2.22%, and 2.45% of the main business revenue respectively.
Although the sales revenue of smart lighting has declined, Hualai Technology's gross profit margin in this category has continued to increase. From 2022 to 2024, the gross profit margin of its smart lighting products will be 16.90%, 23.40% and 42.58% respectively.
In addition, it is worth mentioning that Hualai Technology’s operating income mainly comes from overseas markets.
Mainly the US market. In 2024, its overseas sales revenue will account for 71.72%, of which sales revenue from the United States will account for 60.34%.
What is the progress of LED lighting companies going public in 2025?
In addition to Yaotai Technology and Hualai Technology, there will be IPO progress from many LED lighting companies in 2025.
At present, the listing of companies such as Tongbao Optoelectronics, Xuyu Optoelectronics, Meijin Co., Ltd., Hongyibai, and Chuangzheng Electric on the Beijing Stock Exchange is in an orderly manner, and they are in the stages of acceptance, inquiry, registration, and application respectively. Contact: mack Phone: 13352972563 E-mail: mack@archled.net Add: 3rd Floor, Building A, Mingjinhai Second Industrial Zone, Shiyan Street, Baoan, Shenzhen,Guangdong,China
Among them, in April this year, the IPO project of automotive LED company Tongbao Optoelectronics has entered the inquiry stage. The total amount of funds raised in this IPO is planned to be 330 million yuan, and the funds will mainly be used for new energy vehicle intelligent LED modules, charging and distribution systems and control module projects.
In the same month, Xuyu Optoelectronics announced that the company's guidance work for the Beijing Stock Exchange is being carried out in an orderly manner. It is worth mentioning that Xuyu Optoelectronics has laid out the growing plant lighting track. At the Guangya Exhibition in June this year, Xuyu Optoelectronics launched a high-light quantum efficiency LED solution for plant lighting, with customizable color, CRI, color temperature, light distribution scheme and spectrum.
In addition, Yufu Lighting and Easystar chose to be listed on the New OTC Market. Among them, Easystar focuses on the automotive lighting aftermarket. Its products cover LED headlights, signal lights, auxiliary lamps, etc., and its product sales cover the Americas, Asia, Europe and Oceania.
The Higold Group chose to be listed on the Shenzhen Stock Exchange. Its main business involves cabinet lighting. It is understood that cabinet lighting has attracted attention from the industry due to its high-growth characteristics. This is also reflected in the performance of the Higold Group. From 2022 to 2024, the operating income of the Higold Group increased from 1.620 billion yuan to 2.857 billion yuan, with an average annual compound growth rate of 32.78%.
Aigo Holdings chose to go public in the United States and officially obtained the overseas issuance and listing filing notice issued by the China Securities Regulatory Commission in March this year. Aigo Holdings owns two core independent brands, AIGOSTAR and NOBLEZA. Among them, AIGOSTAR lighting products cover basic lighting, home lighting, commercial lighting and other fields, accounting for more than 30% of the group's performance.
Huasheng Automotive Electronics was successfully listed on the Taiwan Stock Exchange in March this year. Its actual operating entity is Yilan Auto Parts. It was established in June 2003. It is a company engaged in automotive LED ambient lights, smart car LED ambient lights, automotive projection lights and starry sky dome electronic canopies and other interior and exterior products.
With the new
With the global popularity of energy vehicles, Yilan Auto Parts' performance has risen with the trend. In 2024, it will achieve consolidated operating income of 465 million yuan and net profit of 60.48 million yuan, doubling compared with 2023. Taking advantage of this listing, Yilan Auto Parts will be committed to building an industry brand for smart ambient lighting and innovative automotive components.
In addition, some companies have pressed the pause button on their IPOs. On May 30, the Beijing Stock Exchange website disclosed its decision to terminate the listing review of Dongang Technology. It is reported that Dongang Technology is mainly engaged in the research and development, production and sales of professional mobile lighting tools. Its products include folding lights, floodlights, pocket lights, pen lights, long lights, headlights and other series.
Summary
According to the TrendForce consulting report "2025 Global LED Lighting Market Trends - Data Database and Manufacturer Strategies", the LED general lighting market in 2024 will be affected by the sluggish demand in the three major markets in Europe and the United States. The market output value will show negative growth, and the revenue of industry head lighting companies will decline as a whole. However, the LED smart lighting and niche LED plant lighting markets are showing a growth trend against the trend.
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In other words, the traditional general lighting market faces challenges, but the rapid growth of emerging market segments has injected new vitality into the industry. Against this background, LED lighting companies use the power of the capital market to accelerate their layout in emerging fields such as smart lighting, plant lighting, and automotive lighting, in order to seize opportunities in industry development. (Text: LEDinside Mia)
TrendForce 2025 Global LED Lighting Market Trend - Database and Manufacturer Strategies Part1: Database and Manufacturer Strategy Publication date: February 15, 2025; August 15, 2025 Format: PDF and Excel Language: Traditional Chinese / English Part2: LED lighting market dynamics monthly report Publication time: 20th of each month
Format: PDF
Language: Traditional Chinese / English
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