Core Viewpoint - AUX Electric has announced its IPO, planning to issue approximately 207 million shares globally, with an expected pricing date of August 29, and a share price range of HKD 16.00 to HKD 17.42, with trading expected to commence on September 2, 2025 [1][3]. Company Overview - AUX Electric is one of the top five air conditioning providers globally, integrating design, research and development, production, sales, and service for both household and central air conditioning systems. The company operates in over 150 countries and regions, seizing opportunities in the global air conditioning market, which is projected to reach RMB 1.3128 trillion by 2024 [4][25]. Market Position - According to Frost & Sullivan, AUX Electric is projected to hold a 7.1% market share by sales volume in 2024, ranking as the fifth largest air conditioning provider globally [4][17]. Product and Brand Strategy - The company utilizes the "AUX" brand for its domestic and international markets, while also developing sub-brands such as "HuaSuan" and "AUFIT," along with high-end brands like "ShinFlow" [5]. Sales and Distribution Model - AUX Electric has implemented a new retail model that integrates online and offline sales, enhancing communication and cooperation with small and medium-sized retailers. This model simplifies the distribution structure and optimizes the supply chain through digital means [17][24]. Research and Development - The company has established a comprehensive global R&D network with centers in Ningbo, Zhuhai, and Japan, focusing on energy efficiency, comfort, health, and smart technology. As of March 31, 2025, AUX Electric has over 1,600 dedicated R&D personnel and has obtained more than 12,000 registered patents [18][21]. Financial Performance - AUX Electric's revenue for the first quarter of 2024 was RMB 297.59 million, reflecting a growth of 19.8% compared to the same period in 2023. The gross profit for the same period was RMB 62.40 million, with a net profit of RMB 29.10 million [35][38].
一图看懂奥克斯电气(02580.HK)IPO