Investment Rating - The report recommends subscription for the company, Longqi Technology, with an IPO price of HKD 31 per share, which is considered to have a certain safety margin in valuation [4]. Core Insights - Longqi Technology is a leading global brand and technology company providing solutions including product research, design, manufacturing, and support. It is the second-largest consumer electronics ODM manufacturer globally, holding a market share of 22.4%, and the largest in the smartphone ODM sector with a market share of 32.6% as of 2024 [2]. - The global consumer electronics ODM market is expected to grow from 853.5 million units in 2020 to 976.9 million units in 2024, with projections to reach 1,265.7 million units by 2029, driven by the proliferation of smart products and shorter product iteration cycles due to AI trends [3]. Financial Performance - The company's revenue for the years 2022, 2023, and 2024, as well as for the nine months ending September 30, 2024, are reported as follows: RMB 29,343.2 million, RMB 27,185.1 million, RMB 46,382.5 million, RMB 34,920.9 million, and RMB 31,331.6 million respectively. The corresponding net profits for these periods are RMB 561.5 million, RMB 602.7 million, RMB 493.4 million, RMB 425.4 million, and RMB 514.5 million [3].
龙旗科技（09611）：IPO申购指南