TOPSUN(SZ:002779) Zhi Tong Cai Jing·2025-11-25 23:43Core Viewpoint - Zhejiang Zhongjian Technology Co., Ltd. has submitted an application to list on the Hong Kong Stock Exchange, positioning itself as a leading manufacturer in the outdoor power equipment sector in China, with plans to expand into the intelligent robotics market [1][3]. Company Overview - The company specializes in the research, design, production, and sales of outdoor power equipment and has established itself as a significant player in the industry through continuous technological innovation and high product quality [3]. - Zhongjian Technology has developed an intelligent lawn mowing robot, marking its entry into the smart robotics sector, while also focusing on advanced intelligent robot development [3][5]. - The company exports its products to over 50 countries and regions, with a significant portion of sales coming from Europe and North America, serving various applications such as landscaping, lawn care, agriculture, and urban management [3][5]. Product Portfolio - The product range includes wheeled outdoor equipment suitable for efficient mowing tasks, featuring strong power systems and enhanced operational comfort, with key products being riding mowers and push mowers [4]. - Handheld outdoor tools are designed for ease of use and efficiency, catering to home gardening and professional landscaping needs, including chainsaws, brush cutters, blowers, and hedge trimmers [4]. - The company has developed multiple proprietary brands, including "TOPSUN" and "Zhongjian," to diversify revenue sources and reduce reliance on single products or markets [4]. Financial Performance - Revenue figures for the company show a growth trajectory, with revenues of RMB 512.43 million in 2022, RMB 666.62 million in 2023, and projected revenues of RMB 970.89 million in 2024 [9]. - The net profit for the same periods was approximately RMB 27.41 million in 2022, RMB 48.12 million in 2023, and is projected to reach RMB 61.51 million in 2024 [10]. - Research and development expenditures have also increased, reflecting the company's commitment to innovation, with R&D spending of RMB 28.35 million in 2022, RMB 30.60 million in 2023, and projected to rise to RMB 72.68 million in 2024 [11]. Industry Overview - The global outdoor power equipment market is substantial and continues to grow, with a projected market size of USD 25.7 billion in 2024, expected to reach USD 32 billion by 2029, reflecting a compound annual growth rate (CAGR) of 4.5% [12]. - The smart lawn mower market is anticipated to experience rapid growth, with projections indicating an increase from USD 1.2 billion in 2024 to USD 9.9 billion by 2029, representing a remarkable CAGR of 51.8% [12][14]. - The intelligent robotics market is also on the rise, expected to grow from USD 500 million in 2024 to USD 27.4 billion by 2029, with a CAGR of 118.9% [15].