Huaqin Technology (SH:603296) Zheng Quan Ri Bao Wang·2025-08-22 14:03Core Viewpoint - Huqin Technology officially announced its plan to launch H-share listing in Hong Kong, aiming to enhance its international business expansion and technological investments [1][2]. Group 1: H-share Listing and Strategic Goals - The company aims to accelerate its international strategy and enhance overseas business development through the H-share listing on the Hong Kong Stock Exchange [2]. - The H-share listing is expected to provide a solid foundation for future refinancing and overseas mergers and acquisitions, while also introducing an employee stock incentive plan to attract top talent globally [2]. - The timing of the listing is considered favorable due to supportive policies from the Hong Kong Stock Exchange, which encourages A-share companies to pursue IPOs in Hong Kong [2][3]. Group 2: Business Performance and Growth Strategy - Huqin Technology is a leading player in the smart hardware ODM industry, focusing on R&D, manufacturing, and operational services [3]. - The company has upgraded its product strategy to a "3+N+3" global smart product platform strategy, targeting established markets like smartphones and laptops, while also venturing into emerging sectors such as robotics and automotive electronics [3]. - In 2024, the company expects to achieve a revenue of 109.878 billion yuan, a year-on-year increase of 28.76%, and a net profit of 2.926 billion yuan, up 8.1% [3]. - For the first half of 2025, the projected revenue is between 83 billion to 84 billion yuan, reflecting a growth of 110.7% to 113.2%, with a net profit forecast of 1.87 billion to 1.90 billion yuan, indicating a growth of 44.8% to 47.2% [3]. Group 3: Market Position and Future Outlook - Successful H-share issuance is expected to enhance the company's global supply chain and deepen strategic partnerships with leading international firms, thereby diversifying its revenue structure and strengthening its growth engines [4]. - The company aims to solidify its leading position in the global market and promote the advancement of China's smart hardware ODM industry within the global value chain [4].