安克硬刚小米，钱不够用了

Core Viewpoint - Anker is planning a secondary listing in Hong Kong as early as early 2026, aiming to raise approximately $500 million amidst a crisis in the power bank industry triggered by safety issues and recalls [2][36]. Industry Overview - The power bank industry has faced significant turmoil following a ban by the Civil Aviation Administration of China, which prohibited travelers from carrying non-compliant power banks, leading to a massive recall of products [3][4]. - The crisis began with Romoss, a leading brand in the industry, which experienced a rapid collapse due to safety concerns, prompting a domino effect that affected other companies, including Anker [20][21]. Company Performance - Anker has maintained a strong financial performance, with a gross profit margin increasing from 35.72% in 2021 to 43.54% in 2023, and projected revenues of 24.71 billion yuan and net profits of 2.114 billion yuan for 2024 [11]. - Despite the crisis, Anker's employee compensation remains high, with an average salary of approximately 476,100 yuan in 2023, significantly above the local average [25]. Crisis Management - Anker initiated a recall of over 1.86 million units globally, including 713,000 units in China and 1,158,000 units in the U.S., following reports of fires and explosions linked to its products [25][26]. - The company has publicly attributed the issues to a specific supplier, Amperes, and has terminated its partnership with them while seeking to establish new relationships with leading battery suppliers [36][37]. Market Dynamics - Following the turmoil, competitors like Xiaomi have seen a surge in demand, with Xiaomi's power bank searches increasing by 300% during the crisis [30]. - Anker's strategic moves, including the planned secondary listing and new supplier partnerships, are seen as efforts to regain market position and financial stability [36][37].