Core Viewpoint - Zhejiang Sanhua Intelligent Control Co., Ltd. (Sanhua Intelligent) is set to launch an IPO on the Hong Kong Stock Exchange, with a target fundraising amount of approximately HKD 76.43 billion to HKD 81.18 billion, and the expected listing date is June 23, 2025 [1][3]. Company Overview - Sanhua Intelligent was established in September 1994 and is located in Shaoxing, Zhejiang Province. The company has a registered capital of approximately RMB 3.7 billion and is primarily owned by Sanhua Holdings Group and Zhejiang Sanhua Green Energy Industrial Group [3]. - The company is listed on the Shenzhen Stock Exchange under the code "002050" since June 2005, with a market capitalization of approximately RMB 943 billion as of June 13, 2025 [3]. IPO Details - The IPO price range is set between HKD 21.21 and HKD 22.53 per share, with a total of 360.33 million shares to be issued. The median price of HKD 21.87 suggests a total fundraising of approximately HKD 78.74 billion [1]. - Sanhua Intelligent has secured 18 cornerstone investors who have collectively subscribed to approximately USD 562 million (around HKD 44.09 billion) of the offering [3]. Financial Performance - The company's revenue for the years 2022, 2023, and 2024 was RMB 213.48 billion, RMB 245.58 billion, and RMB 279.47 billion, respectively. The gross profit for the same years was approximately RMB 54.62 billion, RMB 67.35 billion, and RMB 76.21 billion [5][6]. - Net profit figures for the same years were approximately RMB 26.08 billion, RMB 29.34 billion, and RMB 31.12 billion [5]. Product and Market Reach - Sanhua Intelligent specializes in manufacturing components for refrigeration and air conditioning control, as well as automotive thermal management systems. The company is also expanding into emerging fields such as bionic robot electromechanical actuators [4]. - The company's products are distributed across over 80 countries and regions globally, with 48 production facilities, including 13 overseas factories located in the Americas, Europe, and Asia [5]. Production Capacity - The total production capacity for refrigeration and air conditioning components was approximately 539 million, 534 million, and 576 million units for the years 2022, 2023, and 2024, respectively. The production output for these years was approximately 452 million, 495 million, and 537 million units [7]. - For automotive components, the total production capacity was approximately 203 million, 255 million, and 282 million units, with production outputs of approximately 170 million, 232 million, and 245 million units for the same years [7].