Core Viewpoint - Guangdong Audiwei Sensor Technology Co., Ltd. is preparing for an IPO on the Hong Kong Stock Exchange, having previously listed on the Beijing Stock Exchange and New Third Board, with a current market capitalization of approximately 3.884 billion yuan [1][3]. Company Overview - Audiwei was established in Guangzhou in 1999 as Panyu Audiwei Electronics Co., Ltd. and underwent a share reform in 2014. The company specializes in the research, design, production, and sales of smart sensors and actuators [3]. - The main products include distance sensors, flow sensors, pressure touch sensors, actuators, atomization transducers, and alarm sounders, which are used in automotive electronics, smart instruments, smart homes, security, and consumer electronics [3]. - Audiwei's self-developed AKII vehicle-mounted ultrasonic sensor supports ADAS/AVP and is the first in China to achieve mass production of this type of sensor [3]. Market Position - According to Frost & Sullivan, Audiwei ranks second in China for smart home product sensor revenue in 2024, third globally for automotive ultrasonic sensors and actuators shipment volume, and fifth in China for overall sensor shipment volume [3]. Financial Performance - For the years 2022 to 2025, Audiwei's revenue is projected to be 378 million yuan, 467 million yuan, 617 million yuan, and 327 million yuan, respectively, with a compound annual growth rate (CAGR) of approximately 27.75% [4]. - Net profit for the same period is expected to be 52.618 million yuan, 76.978 million yuan, 93.951 million yuan, and 46.96 million yuan, with a CAGR of about 33.6% [4]. - In the first half of 2025, revenue increased by 15.1% year-on-year, while net profit grew by 3.9% [4]. Business Focus - Audiwei focuses on four core solution scenarios: smart home solutions, smart automotive solutions, smart terminal solutions, and smart manufacturing solutions, with smart home and automotive solutions forming the current business foundation [4]. - The revenue contribution from smart home solutions has shown a growth trend, accounting for 53%, 54.6%, 55.7%, and 56.9% of total revenue during the reporting period [4]. Shareholding Structure - The company's executive director, chairman, and general manager Zhang Shuguang, along with his spouse, hold approximately 15.39% and 1.8% of the issued share capital, respectively, totaling 17.19% and making them the largest shareholder group [4]. IPO Fund Utilization - The funds raised from the IPO will be used to increase production capacity in Malaysia, build a new high-performance sensor production base in China, invest in R&D innovation and digitalization, and for working capital and general corporate purposes [5].
这家“中国第二”申请港股上市