XGIMI(SH:688696) Ge Long Hui·2025-09-29 11:44Core Viewpoint - XGIMI Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with CICC as the exclusive sponsor, positioning itself as a leader in the global projection industry, particularly in the consumer-grade segment [1] Group 1: Company Overview - XGIMI is recognized as the world's largest consumer-grade projection brand based on projected revenue for 2024, with operations in over 100 countries and regions, and a cumulative shipment of over 7 million projection devices [1] - The company has maintained its position as the top seller in China's projection industry for seven consecutive years since 2018 and has been the revenue leader domestically for five years since 2020, holding a market share of approximately 30.2% in the mid-to-high-end projection sector for 2024 [1][2] Group 2: Product and Technology - XGIMI has established itself as an innovation benchmark in smart projection products, leveraging its core advantages in optical technology and user experience to expand its product offerings from consumer-grade to automotive and engineering-grade projections [2] - The automotive projection business has achieved mass production and delivery, being adopted by leading manufacturers such as Seres, JAC Motors, and BAIC for various new energy vehicle models, serving as a second growth engine for the company [2] Group 3: Financial Performance - The company's revenue for the years 2022, 2023, and 2024, along with the first half of 2025, were RMB 4.22 billion, RMB 3.55 billion, RMB 3.40 billion, RMB 1.60 billion, and RMB 1.62 billion respectively, with corresponding gross profits of RMB 1.47 billion, RMB 1.06 billion, RMB 1.03 billion, RMB 440 million, and RMB 521 million [3] - The company plans to use the proceeds from the financing for global brand and product marketing, enhancing R&D capabilities, and general corporate purposes [3] Group 4: Production Capacity - XGIMI operates two production bases: the Yibin base with an annual design capacity of 1.26 million units and a utilization rate of 96.0% in 2022, and the Vietnam base with a design capacity of approximately 500,000 units, expected to commence operations in August 2025 [2]