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奥克斯冲刺港股：年营收298亿 郑坚江家族色彩浓 与董明珠恩怨多年
Sou Hu Cai Jing·2025-07-16 13:49

Core Viewpoint - AUX Electric Co., Ltd. (referred to as "AUX") has submitted its prospectus for a listing on the Hong Kong Stock Exchange after previously preparing for an A-share listing [2] Company Overview - AUX was established in 1994 and specializes in the design, research and development, production, sales, and service of high-quality household and central air conditioning systems [3] - The company operates under the main brand "AUX" and has adopted a multi-brand strategy to enhance market penetration, including the incubation of brands "Hua Suan" and "AUFIT" [4] Financial Performance - AUX's revenue for 2022, 2023, and 2024 is projected to be RMB 19.53 billion, RMB 24.83 billion, and RMB 29.76 billion respectively, with gross profits of RMB 4.15 billion, RMB 5.42 billion, and RMB 6.24 billion [5] - The gross profit margins for the same years are 21.3%, 21.8%, and 21% respectively, while net profits are expected to be RMB 1.44 billion, RMB 2.49 billion, and RMB 2.91 billion [5] - For the first three months of 2025, AUX reported revenue of RMB 9.35 billion, a 27% increase from RMB 7.36 billion in the same period the previous year [5][6] Product Matrix - AUX's product offerings primarily include household air conditioners and central air conditioning systems, focusing on energy efficiency, comfort, health, and intelligence [5] - The household air conditioning segment includes wall-mounted, cabinet, and portable air conditioners, while the central air conditioning segment includes multi-split systems, unitary systems, heat pumps, and terminal equipment [5] Market Position - The majority of AUX's revenue comes from household air conditioning, contributing RMB 8.38 billion in the first quarter of 2025, accounting for 89.5% of total revenue [7][8] - The largest revenue contributor within the household air conditioning segment is wall-mounted units, generating RMB 7.08 billion, which represents 75.7% of the segment's revenue [7] Ownership Structure - AUX is controlled by Zheng Jianjiang, who holds 96% of the shares, with other shareholders including He Ce, He Tu, He Chang, and He Yao [9][13][15]