Group 1 - The core viewpoint of the article is that Guanghe Tong (300638) has successfully listed its shares at a price of HKD 21.50 each, raising approximately HKD 2.811 billion through the issuance of 135 million shares [1] - The company is a leading provider of wireless communication modules, offering products such as data transmission modules, smart modules, and AI modules [1] - Guanghe Tong provides customized solutions based on its module products and understanding of downstream application scenarios, including edge AI solutions and robotics solutions [1] Group 2 - According to Frost & Sullivan, the company is the second-largest wireless communication module provider globally, holding a market share of 15.4% based on revenue from ongoing operations in 2024 [1] - The company leads in market share across various downstream application scenarios, particularly in smart home and consumer electronics, where it holds the top global market share, especially with a 75.9% share in the consumer electronics sector [1] - In the automotive electronics sector, the company ranks second globally, benefiting from the surge in demand for high-reliability modules in the new energy vehicle pre-installation market [1]

根据弗若斯特沙利文，公司是全球第二大无线通信模组提供商，公司的全球市场份额为15.4%(以2024年 公司来自持续经营业务的收入计)。在全球无线通信模组市场中，公司在多个下游应用场景的市场份额 排名领先。例如，在智慧家庭和消费电子（如平板、笔记本）领域，公司均拿下全球第一的市占率，尤 其在消费电子领域，市占率高达75.9%；在汽车电子领域，公司位居全球第二，这得益于新能源汽车前 装市场对高可靠性模组需求的爆发。 根据招股书，广和通是领先的无线通信模组提供商。公司的模组产品包括数传模组、智能模组及AI模 组。同时，公司以模组产品为基础，结合对下游应用场景的理解，向客户提供定制化解决方案，包括端 侧AI解决方案、机器人解决方案及其他解决方案。 智通财经APP获悉，广和通(00638)首挂上市，公告显示，每股定价21.50港元，共发行1.35亿股股份，每 手200股，所得款项净额约28.11亿港元。截至发稿，无涨跌，报21.5港元，成交额1.72亿港元。 ...

Core Viewpoint - Guanghe Tong (00638) has successfully listed its shares at a price of HKD 21.50 per share, raising approximately HKD 2.811 billion through the issuance of 135 million shares, indicating strong market interest in the wireless communication module sector [1] Company Overview - Guanghe Tong is a leading provider of wireless communication modules, offering products such as data transmission modules, smart modules, and AI modules [1] - The company provides customized solutions based on its module products, including edge AI solutions, robotic solutions, and other applications [1] Market Position - According to Frost & Sullivan, Guanghe Tong is the second-largest wireless communication module provider globally, holding a market share of 15.4% based on revenue from ongoing operations projected for 2024 [1] - The company leads in several downstream application scenarios, achieving the highest market share in smart home and consumer electronics, particularly with a 75.9% share in the consumer electronics sector [1] - In the automotive electronics sector, Guanghe Tong ranks second globally, benefiting from the surge in demand for high-reliability modules in the new energy vehicle market [1]

Core Viewpoint - Guanghetong, a leading wireless communication module provider, is conducting an IPO from October 14 to October 17, aiming to raise up to HKD 2.9 billion with a share price range of HKD 19.88 to HKD 21.50, and has seen significant oversubscription of 449 times [1] Company Overview - Guanghetong plans to issue 135 million H-shares, representing 15% of total shares post-IPO, with 90% allocated for international offering and 10% for public offering, alongside a 15% over-allotment option [1] - The company specializes in various module products, including data transmission modules, smart modules, and AI modules, and offers customized solutions based on its understanding of downstream application scenarios [1] - Guanghetong has achieved breakthroughs in wireless communication technology, including the launch of one of the world's first 5G data transmission modules in collaboration with Intel in 2019 [1] Market Position - In the automotive electronics sector, Guanghetong holds the second-largest market share globally at 14.4%, with the market size projected to reach RMB 11.7 billion in 2024, accounting for 26.8% of the global wireless communication module market [2] - In the smart home sector, Guanghetong leads with a market share of 36.6%, with the market size expected to be RMB 6.6 billion in 2024, representing 15.1% of the global market [2] - In the consumer electronics sector, Guanghetong also ranks first with a market share of 75.9%, with a projected market size of RMB 2.2 billion in 2024, making up 5.0% of the global market [2]

Core Viewpoint - The company Guanghetong (00638) is conducting an IPO from October 14 to October 17, with a share price range of HKD 19.88 to HKD 21.50, aiming to raise up to HKD 2.9 billion, and has seen significant oversubscription of 449 times [1][2]. Group 1: Company Overview - Guanghetong is a leading provider of wireless communication modules, offering products such as data transmission modules, smart modules, and AI modules [1]. - The company provides customized solutions based on its module products, including edge AI solutions and robotic solutions [1]. - Guanghetong has achieved breakthroughs in various wireless communication technologies, including the launch of one of the world's first 5G data transmission modules in collaboration with Intel in 2019 [1]. Group 2: Market Position - In the automotive electronics sector, Guanghetong holds the second-largest market share globally at 14.4%, with the market size projected to be RMB 11.7 billion in 2024 [2]. - In the smart home sector, Guanghetong leads with a market share of 36.6%, with the market size expected to reach RMB 6.6 billion in 2024 [2]. - In the consumer electronics sector, Guanghetong also ranks first with a market share of 75.9%, with the market size anticipated to be RMB 2.2 billion in 2024 [2].

Core Viewpoint - Guanghetong (00638.HK) plans to globally offer approximately 135 million H-shares, with a pricing range of HKD 19.88 to HKD 21.50 per share, aiming to raise around HKD 2.689 billion for various strategic initiatives [1][3] Group 1: Share Offering Details - The company will offer about 13.51 million shares in Hong Kong and approximately 122 million shares internationally, with the subscription period from October 14 to October 17, 2025 [1] - The expected pricing date is October 20, 2025, and shares are anticipated to start trading on October 22, 2025 [1] Group 2: Company Overview - Guanghetong is a leading provider of wireless communication modules, with products including data transmission modules, smart modules, and AI modules [1] - The company is the second-largest wireless communication module provider globally, holding a market share of 15.4% based on revenue from ongoing operations in 2024 [1] Group 3: Use of Proceeds - Approximately 55% of the net proceeds from the global offering will be allocated for R&D, focusing on AI and robotics technology innovation and product development [3] - About 15% is expected to be used for building manufacturing facilities in Shenzhen over the next five years [3] - The remaining proceeds will be allocated for repaying bank loans (10%), strategic investments or acquisitions (10%), and working capital or other general corporate purposes (10%) [3] Group 4: Cornerstone Investment - The company has entered into cornerstone investment agreements, with cornerstone investors agreeing to subscribe for shares worth approximately HKD 1.253 billion, contingent on certain conditions [2] - If the share price is set at HKD 20.69, cornerstone investors will acquire around 60.57 million shares [2]

Core Viewpoint - Guanghe Tong (00638) is set to launch an IPO from October 14 to October 17, 2025, aiming to issue approximately 135 million H-shares at a price range of HKD 19.88 to HKD 21.5 per share, with trading expected to commence on October 22, 2025 [1] Company Overview - The company is a leading provider of wireless communication modules, offering products such as data transmission modules, smart modules, and AI modules, along with customized solutions for various applications [1] - According to Frost & Sullivan, the company holds a 15.4% global market share in the wireless communication module sector, making it the second-largest provider worldwide [1] Financial Performance - Revenue from continuing operations increased from RMB 5.203 billion in 2022 to RMB 5.652 billion in 2023, representing an 8.6% growth, and is projected to rise by 23.3% to RMB 6.971 billion in 2024 [2] - For the four months ending April 30, 2025, revenue rose by 21.2% to RMB 2.481 billion compared to the same period in 2024 [2] - Gross profit also saw an increase from RMB 1.066 billion in 2022 to RMB 1.187 billion in 2023, a growth of 11.4%, and is expected to reach RMB 1.267 billion in 2024, marking a 6.7% increase [2] Capital Utilization - Assuming an IPO price of HKD 20.69 per share, the company estimates a net proceeds of approximately HKD 2.689 billion from the global offering [3] - The allocation of proceeds is planned as follows: 55% for R&D, particularly in AI and robotics; 15% for building manufacturing facilities in Shenzhen; 10% for repaying bank loans; 10% for strategic investments or acquisitions; and 10% for working capital and general corporate purposes [3] Strategic Partnerships - The company has entered cornerstone investment agreements with several investors, including Qindao Gantong and Pacific Asset Management, agreeing to subscribe for shares amounting to approximately HKD 1.253 billion [2]

Core Viewpoint - Guanghe Tong (300638) is set to launch an IPO from October 14 to October 17, 2025, offering approximately 135 million H-shares at a price range of HKD 19.88 to HKD 21.5 per share, with trading expected to commence on October 22, 2025 [1] Group 1: Company Overview - The company is a leading provider of wireless communication modules, including data transmission modules, smart modules, and AI modules [1] - Guanghe Tong holds a 15.4% global market share in the wireless communication module sector, making it the second-largest provider worldwide according to Frost & Sullivan [1] Group 2: Financial Performance - Revenue from continuing operations increased from RMB 5.203 billion in 2022 to RMB 5.652 billion in 2023, representing an 8.6% growth, and is projected to rise by 23.3% to RMB 6.971 billion in 2024 [2] - Gross profit rose from RMB 1.066 billion in 2022 to RMB 1.187 billion in 2023, an increase of 11.4%, and is expected to grow by 6.7% to RMB 1.267 billion in 2024 [2] Group 3: IPO and Use of Proceeds - Assuming an offer price of HKD 20.69 per share, the company estimates net proceeds from the global offering to be approximately HKD 2.689 billion [3] - The allocation of proceeds includes approximately 55% for R&D, 15% for building manufacturing facilities in Shenzhen, 10% for repaying bank loans, 10% for strategic investments or acquisitions, and 10% for working capital and general corporate purposes [3] Group 4: Cornerstone Investors - The company has entered into cornerstone investment agreements with several investors, including Qindao Gantong, Pacific Asset Management, and China Pacific Insurance, with a total commitment of approximately HKD 1.253 billion [2]

Group 1 - The company, Guanghe Tong, plans to conduct an initial public offering (IPO) from October 14 to October 17, 2025, offering approximately 135 million H-shares, with 10% allocated for Hong Kong and 90% for international sales, plus an over-allotment option of 15% [1] - The estimated share price range is HKD 19.88 to HKD 21.5, with trading expected to commence on October 22, 2025 [1] - Guanghe Tong is recognized as the second-largest wireless communication module provider globally, holding a market share of 15.4% based on revenue from continuing operations in 2024 [1] Group 2 - The company's revenue from continuing operations increased from RMB 5.203 billion in 2022 to RMB 5.652 billion in 2023, representing an 8.6% growth, and is projected to rise by 23.3% to RMB 6.971 billion in 2024 [2] - Gross profit also saw an increase from RMB 1.066 billion in 2022 to RMB 1.187 billion in 2023, an 11.4% rise, and is expected to grow by 6.7% to RMB 1.267 billion in 2024 [2] - The company has secured cornerstone investment agreements with several investors, committing to purchase shares worth approximately HKD 12.53 billion at the offering price [2] Group 3 - Assuming a share price of HKD 20.69, the company estimates net proceeds from the global offering to be approximately HKD 2.689 billion [3] - About 55% of the proceeds is expected to be allocated for research and development, focusing on AI and robotics technology [3] - The company plans to allocate approximately 15% of the proceeds for building manufacturing facilities in Shenzhen, China, primarily for module production [3]

Core Viewpoint - Guanghetong (300638.SZ) has passed the Hong Kong Stock Exchange hearing and updated its prospectus on October 5, moving closer to its listing on the Hong Kong main board, with plans for a global offering soon [3][4]. Company Overview - Guanghetong is a leading provider of wireless communication modules, offering data transmission modules, smart modules, and AI modules. The company provides customized solutions based on its understanding of downstream application scenarios, including edge AI solutions and robotics [3][5]. - The application scenarios for Guanghetong's module products and solutions are extensive, covering automotive electronics, smart homes, consumer electronics, and smart retail [3][5]. Market Position - According to Frost & Sullivan, Guanghetong is the second-largest wireless communication module provider globally based on revenue from continuing operations in 2024 [3][6]. - Guanghetong has established a strong market presence, ranking first in market share for automotive electronics and smart home applications globally [6][7]. Financial Performance - For the four months ending April 30, 2025, Guanghetong reported revenue from continuing operations of approximately 2.481 billion RMB, a year-on-year increase of about 21.2%. However, net profit was approximately 160 million RMB, a decrease of about 31.3% [3][8]. - The sales revenue from 5G module products accounted for over 50% of the company's revenue from continuing operations during the same period [6][7]. Fundraising Plans - Guanghetong plans to use the net proceeds from its fundraising for research and development, particularly in AI and robotics technology, as well as for building manufacturing facilities in Shenzhen, China, and repaying certain interest-bearing bank loans [4][5]. Strategic Focus - The company aims to focus on strategic investments and/or acquisitions in wireless communication, artificial intelligence, robotics, and other complementary or synergistic fields [5][6].