Zheng Quan Shi Bao·2026-01-14 12:33Core Viewpoint - Shanghai Sunmi Technology Group Co., Ltd. has re-submitted its IPO application to the Hong Kong Stock Exchange after the previous application became invalid, with Deutsche Bank, CITIC Securities, and Agricultural Bank of China International acting as joint sponsors [1]. Company Overview - Sunmi Technology focuses on providing smart commercial devices and integrated "end-to-cloud" services, forming a product and service system that includes smart commercial devices, commercial operating systems, and IoT cloud management platforms [2]. - The company is currently the largest provider of Android-based BIoT solutions globally, holding over 10% market share, with expectations for explosive growth in the Android BIoT solutions market over the next five years [2]. Market Presence - As of December 31, 2022, the number of global business partners increased from approximately 44,000 to an expected 58,000 by December 31, 2024, and further to about 64,000 by September 30, 2025 [2]. - Sunmi's solutions have been implemented in over 200 countries and regions, covering more than 90% of the global market, including all G20 countries, across over 100 industry verticals such as restaurants, supermarkets, fitness, clinics, and logistics [2]. Financial Performance - The company's revenue for the fiscal years 2022, 2023, 2024, and the first nine months of 2025 were approximately RMB 3.404 billion, RMB 3.071 billion, RMB 3.456 billion, and RMB 2.244 billion, respectively [3][4]. - The net profit for the same periods was approximately RMB 160 million, RMB 101 million, RMB 181 million, and RMB 56 million [3][4]. Shareholder Information - The controlling shareholder and actual controller of Sunmi Technology is Lin Zhe, holding a 27.38% stake with 79.04% voting rights [9][10]. - Major shareholders include Ant Group through Yunxin Venture, holding 27.27% of shares, and Meituan's Han Tao Consulting with 8.20% [9][10].