华勤技术(603296.SH)公告称，公司已于2025年9月16日向香港联合交易所有限公司递交了发行境外上市 股份（H股）并在香港联交所主板挂牌上市的申请，并于同日在香港联交所网站刊登了本次发行上市的 申请资料。该申请资料为草拟版本，其所载资料可能会适时作出更新及修订。公司本次发行上市尚需取 得相关政府机关、监管机构、证券交易所的批准、核准或备案，该事项仍存在不确定性。 ...

格隆汇9月16日｜据港交所文件，华勤技术股份有限公司向港交所提交上市申请书。 ...

Core Viewpoint - Huqin Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange [1] Group 1 - The company is seeking to go public through the Hong Kong Stock Exchange [1]

Core Viewpoint - The report highlights the significant performance growth of Huqin Technology, a leading global ODM company in smart hardware, focusing on smartphones, laptops, and data centers while actively expanding into emerging fields like robotics, software, and automotive electronics [1] Financial Performance - The company's revenue is projected to increase from 35.3 billion to 109.9 billion from 2019 to 2024, with a CAGR of 25.5% [1] - The net profit attributable to the parent company is expected to rise from 510 million to 2.93 billion during the same period, achieving a CAGR of 42.1% [1] Market Trends - There is a surge in demand for AI computing power, leading to strong growth in the server business [1] - The laptop shipment volume is experiencing rapid growth, aligning with the trends in the AI industry [1] Strategic Focus - The company is concentrating on three main areas: cockpit, display screens, and intelligent driving, establishing comprehensive self-research capabilities and automotive-grade manufacturing centers [1] - The company is continuously gaining customer recognition, and its business is gradually forming scale effects [1] Comparable Companies - The report selects Longqi Technology, Luxshare Precision, and Industrial Fulian as comparable companies [1] - According to iFinD consensus expectations, the average PE ratios for comparable companies from 2025 to 2027 are projected to be 29, 21, and 17 times, respectively [1] Investment Rating - Given the mature data center business system and significant customer advantages, the report initiates coverage with a "Buy" rating [1]

Group 1: Target Price Increases - On September 15, 53 target price adjustments were made by brokerages, with notable increases for Hanwang Technology, Ruipu Biology, and Xindian Software, showing target price increases of 79.86%, 64.51%, and 60.09% respectively [1][2] - Hanwang Technology's latest closing price is 42.23, while Ruipu Biology's is 36.16, and Xindian Software's is 44.84 [2] Group 2: Brokerage Recommendations - A total of 94 companies received brokerage recommendations on September 15, with notable mentions including Shanying International, which received 1 recommendation, and Huashang City A, also receiving 1 recommendation [3] - Three companies had their ratings downgraded, including Tongwei Co., which was downgraded from "Buy" to "Hold" by Tianfeng Securities [3][4] Group 3: First-Time Coverage - Five companies received first-time coverage on September 15, including Jinfeng Technology with a "Recommended" rating from Minsheng Securities, and Gaoweida with an "Increase" rating from Zhongyou Securities [5] - Other companies receiving first-time ratings include Huali Technology, Zhongce Rubber, and Huajin Technology, all rated "Buy" by various brokerages [5]

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [5][54]. Core Views - The company is a leading global ODM manufacturer in smart hardware, leveraging AI to drive multi-business collaboration and growth [5][7]. - The company has shown significant revenue growth, with a projected increase in operating income from 85.34 billion RMB in 2023 to 160.62 billion RMB in 2025, representing a CAGR of 25.5% from 2019 to 2024 [7][14]. - The demand for AI computing power is surging, leading to strong growth in the server business, with a projected revenue increase of 178.8% in the data center segment for 2024 [7][21]. - The company is expanding its presence in emerging markets such as automotive electronics, with the automotive electronics market in China expected to grow to 1.28 trillion RMB by 2025 [48]. Summary by Sections Market Performance - The company's closing price is 84.24 RMB, with a total market capitalization of 85.57 billion RMB and a circulating market value of 48.14 billion RMB [3]. Financial Forecast and Valuation - The company is expected to achieve a net profit of 3.97 billion RMB in 2025, with a year-on-year growth rate of 35.56% [6][54]. - The projected P/E ratios for 2025, 2026, and 2027 are 21.57, 17.97, and 14.77, respectively [8][54]. Business Growth Drivers - The company is focusing on three core business areas: smartphones, laptops, and data centers, while also exploring new fields such as robotics and automotive electronics [7][10]. - The server business is expected to benefit from the increasing demand for AI servers, with global shipments projected to rise from 500,000 units in 2020 to 2 million units in 2024 [24][27]. - The laptop segment is also experiencing growth, with expected shipments reaching 15 million units in 2024 [7][32]. Emerging Business Opportunities - The automotive electronics market is projected to reach 1.28 trillion RMB in 2025, providing significant growth opportunities for ODM manufacturers [48]. - The company is enhancing its capabilities in automotive electronics, focusing on cockpit, display, and intelligent driving technologies [48]. Competitive Positioning - The company maintains a leading position in the smartphone ODM market, with a market share of 27% in 2024 [42]. - The ODM penetration rate for smartphones is expected to continue rising, driven by the increasing demand for AI-integrated devices [42][43].

Group 1 - Shanghai is implementing a comprehensive "Enterprise Service Package" policy to support companies in achieving high-quality international expansion [4] - Huqin Technology Co., Ltd. is a leading global ODM in consumer electronics, with approximately 50% of its revenue coming from overseas markets [1][3] - The company has expanded its business from mobile phones to various fields, including smart wearables, laptops, automotive electronics, servers, and robotics, employing around 17,000 R&D personnel [1][3] Group 2 - Shanghai's advantages include a strong talent pool, a robust supply chain in the Yangtze River Delta, and comprehensive government support for technological innovation [3] - The Shanghai government has introduced various supportive policies, including funding, talent support, and rent subsidies, to encourage companies to innovate and expand internationally [3][4] - Shanghai aims to cultivate 400 pioneering companies and 100 headquarters for overseas operations by the end of the 14th Five-Year Plan [4] Group 3 - Qinglong Intelligent Technology Co., Ltd. has developed a full range of robotic products, including humanoid robots and delivery robots, with over 50% of its revenue coming from international markets since entering overseas markets in 2022 [6] - The company has shipped over 100,000 robots, covering more than 600 cities in over 60 countries, with a total operational mileage exceeding 40 million kilometers [6] - The diverse applications of intelligent robots in various scenarios, such as restaurants and hospitals, exemplify Shanghai's support for companies going global [6]

登录新浪财经APP 搜索【信披】查看更多考评等级 上市公司名称：华勤技术股份有限公司 上市地点：上海证券交易所 股票简称：华勤技术 股票代码：603296 信息披露义务人：海南创坚创业投资合伙企业（有限合伙） 住所/通讯地址：海南省海口市保税区（海口市南海大道168号）金盘路和坤大厦538-1室 一致行动人：邹宗信 住所：上海市浦东新区******** 通讯地址：上海市浦东新区绿科路699号 权益变动性质：减少，减少后持股比例触及5%刻度 签署日期：二零二五年九月 信息披露义务人及其一致行动人声明 一、信息披露义务人及其一致行动人依据《中华人民共和国公司法》、《中华人民共和国证券法》、 《上市公司收购管理办法》、《公开发行证券的公司信息披露内容提要与格式准则第15号－权益变动报 告书》及其他相关的法律、法规和规范性文件编写本报告书。 第一节 释义 除非特别说明与另有所指，下列简称在本报告书中具有如下含义： ■ 注：本报告书中可能存在合计数与各分项尾数不符的情况，系四舍五入所致。 二、信息披露义务人及其一致行动人签署本报告已获得必要的授权和批准，其履行亦不违反信息披露义 务人及其一致行动人所任职或持有权益公司的 ...

Core Viewpoint - Huakin Technology has emerged as a hidden champion in the original design manufacturing (ODM) sector, playing a crucial role in the design and manufacturing of smart electronic devices for major tech companies like Google and Samsung [2][3]. Company Development - Founded in 2005, Huakin Technology started with a team of 30, focusing on mobile phone design for domestic brands. By 2013, it transitioned from an IDH model to an ODM model, entering the international supply chain with tablet production [4]. - In 2023, Huakin became the first domestic company to mass-produce AI servers, showcasing its full-process design and manufacturing capabilities [4]. - The company has developed a "3+N+3" global smart product platform, expanding from single-category to multi-category offerings, including smartphones, laptops, and servers, while targeting emerging sectors like robotics and automotive electronics [4]. R&D Investment - Huakin Technology boasts a research and development team of over 16,000, with R&D expenses projected to grow from 2.431 billion yuan in 2020 to 5.156 billion yuan by 2024, reflecting a compound annual growth rate of over 20% [5]. - The company's revenue has nearly doubled over five years, increasing from 35.3 billion yuan to 110 billion yuan. In the first half of 2025, revenue reached 83.94 billion yuan, a year-on-year increase of 113.1% [5]. Quality Management - Huakin has implemented a series of quality management initiatives, including an integrated product development system (IPD) and a comprehensive quality management model, to ensure high-quality production [6][7]. - The company has received accolades for its quality, including the "2025 Perfect Quality" award from Lenovo, highlighting its commitment to zero-defect delivery [7]. Global Expansion Strategy - Huakin Technology has established a dual supply system, with a focus on global manufacturing and R&D centers in locations like Shanghai and overseas in Vietnam, Mexico, and India [8][9]. - The company aims for a production capacity distribution of 40% in domestic centers and 20% in overseas bases, with significant progress in mass production in Vietnam and India [8]. Future Outlook - Huakin plans to enhance its manufacturing efficiency through automation, digitalization, and lean management, while strengthening collaboration with local suppliers to improve supply chain resilience [10].

Group 1: Overview of Chinese Companies Going Global - Chinese companies are actively engaging in globalization, showcasing "Chinese manufacturing" on the world stage while also creating opportunities for global partners in the Chinese market [1][2] - The article highlights two representative companies: Huaqin Technology and Schneider Electric, illustrating their successful integration into global markets and local operations [1][2] Group 2: Huaqin Technology's Global Strategy - Huaqin Technology, a leading player in the global ODM industry, has expanded its business from mobile phones to various sectors including smart wearables, laptops, automotive electronics, and robotics, with over 200 million smart terminal products shipped annually [3][4] - The company adopted the "HQ" quality label, which symbolizes its commitment to high quality, and has established strategic partnerships with eight of the top ten global smartphone brands [4] - Huaqin has successfully navigated challenges in international markets, such as forming joint ventures in India to address local production needs and relocating production lines to Vietnam to mitigate tariff impacts [5][6] Group 3: Schneider Electric's Local Integration - Schneider Electric has deeply integrated into the local supply chain in China, with 30 factories and logistics centers established, and five major R&D centers that are crucial to its global network [7][8] - The company emphasizes the importance of Chinese innovation, with over 2,200 R&D engineers and more than 3,000 patents, showcasing its capability for world-class product development [7][8] - Schneider Electric has implemented digital technologies such as big data, 5G, and AI in its production processes, resulting in an 82% increase in productivity and a 67% reduction in order delivery times [8]