智通财经APP获悉，据港交所12月31日披露，酷赛智能科技股份有限公司(下称：酷赛智能)向港交所主板递交上市申请，中信证券为其独家保荐人。这是该 公司年内第二次递表港交所，曾于6月25日递交过上市申请。 公司简介 招股书显示，酷赛智能是全球领先的智能手机ODM企业，提供囊括产品定义、研发、供应链管理、制造和售后服务的解决方案。于往绩纪录期间，公司的 收入来自70多个国家或地区，涵盖亚洲、美洲、欧洲、大洋洲和非洲。根据弗若斯特沙利文数据，于2024年，按出货量计算，酷赛智能是全球第二大面向本 土智能手机品牌的ODM解决方案提供商；于2025年第一季度，酷赛智能升至榜首。 多年来，酷赛智能成为一家全球领先的智能手机ODM公司，拥有独立运营及管理智能手机品牌的丰富经验，从而使公司从大多数主要以其他品牌制造商起 步的市场参与者中脱颖而出。公司的智能硬件产品定义能力能够根据对相关国家或地区的整体消费水平、面对客户群体的主要功能偏好、当地文化及竞争格 局等各类环境的深刻理解精准地定义产品。 凭借卓越的产品定义能力，酷赛智能提供可满足特定客户需求的定制化产品，同时保持成本优势和优异的产品性能，以提供更佳的消费者体验。于往绩 ...

来源：新浪港股-好仓工作室 主营业务与商业模式：全球第二大本土智能手机ODM，2025年一季度跃居榜首 酷赛智能科技股份有限公司（简称"酷赛智能"）是一家全球领先的智能硬件ODM解决方案提供商，专 注于为客户提供从产品定义、研发设计到供应链管理、制造及售后的一站式服务。公司主要产品包括消 费类智能手机、三防手机、物联网设备及配套印刷电路板组件，业务覆盖全球70余个国家和地区。 核心商业模式呈现"技术+制造+服务"三位一体特征：通过深度参与客户产品定义环节，将研发能力转化 为差异化竞争力；依托宜宾生产基地的规模化制造能力，实现柔性生产与成本控制；凭借全球化供应链 网络和本地化服务体系，快速响应不同区域市场需求。根据弗若斯特沙利文数据，按出货量计算，公司 2024年位列全球第二大面向本土智能手机品牌的ODM解决方案提供商，并于2025年第一季度跃升至全 球第一。 截至2025年7月31日，公司已开发超过598款智能手机及印刷电路板组件型号，以及46种其他智能设备， 累计获得151项专利、275项软件版权利及31项商标。按地区划分，亚洲市场占比68.4%，美洲市场占比 26.8%，欧洲市场占比3.7%，形成以亚洲为 ...

（ 於開曼群島註冊成立的有限公司） 的申請版本 警告 本申請版 本乃根據 香港聯合 交易所有 限公司（「聯 交所」）及證券 及期貨事 務監察委 員會 （「證監會」）的要求而刊發，僅用作提供資料予香港公眾人士。 本申 請 版本 為草 擬 本， 其 內所 載資 料 並不 完 整， 亦可 能 會作 出重 大 變動 。 閣 下閱 覽 本 文 件 ， 即 代表 閣 下 知悉 、 接 納 並 向 本 公 司 、 其保 薦 人 、 整 體 協 調 人 、顧 問 或 包 銷 團 成 員表示同意： 香港聯合交易所有限公司與證券及期貨事務監察委員會對本申請版本的內容概不負責，對其準確 性或完整性亦不發表任何意見，並明確表示概不就因本申請版本全部或任何部分內容而產生或因 倚賴該等內容而引致的任何損失承擔任何責任。 Coosea Smart Technology Company Limited 酷 賽 智 能 科 技 股 份 有 限 公 司 （「本公司」） 倘於 適 當時 候向 香 港公 眾 人士 提出 要 約或 邀請 ， 準投 資 者務 請僅 依 據呈 交香 港 公司 註 冊處註冊的本公司招股章程作出投資決定；有關文本將於發售期內 ...

Core Viewpoint - KUSAI Intelligent Technology Co., Ltd. has submitted an application for H-share listing on the Hong Kong Stock Exchange, focusing on the development, design, manufacturing, and sales of smartphones and motherboards, primarily providing end-to-end solutions for local smartphone brands [1][2]. Financial Performance - The company's revenue for 2022, 2023, and 2024 was 1.713 billion yuan, 2.302 billion yuan, and 2.717 billion yuan, respectively, with net profits of 110 million yuan, 203 million yuan, and 207 million yuan, indicating a slowdown in growth for 2024 [2][6]. - The average selling price of consumer smartphones has been declining, recorded at 572 yuan, 510 yuan, and 500 yuan for the years 2022, 2023, and 2024 [4][5]. Market Position - KUSAI's consumer smartphone revenue accounted for 65.5%, 68.8%, and 70.7% of total revenue in 2022, 2023, and 2024, respectively [3][6]. - The company is the second-largest end-to-end solution provider for local smartphone brands by shipment volume in 2024, and it is expected to rank first in the first quarter of 2025 [3]. - KUSAI's global smartphone shipment volume was 6 million units in 2024, ranking 8th among global end-to-end solution providers with a market share of only 1.2% [3]. Customer and Revenue Distribution - The majority of KUSAI's products are sold overseas, with total overseas revenue of 1.044 billion yuan, 1.537 billion yuan, and 1.766 billion yuan for 2022, 2023, and 2024, representing 60.9%, 66.8%, and 65.0% of total revenue, respectively [6]. - The company's inventory has been increasing, with balances of 286 million yuan, 369 million yuan, and 470 million yuan for the years 2022, 2023, and 2024, accounting for 29.3%, 28.3%, and 33.4% of total assets [6]. - The top five customers contributed revenues of 658 million yuan, 1.015 billion yuan, and 1.164 billion yuan for 2022, 2023, and 2024, making up 38.4%, 44.1%, and 42.8% of total revenue, respectively [6].

Core Viewpoint - Coosea Intelligent Technology Co., Ltd. has submitted its IPO application to the Hong Kong Stock Exchange, aiming to raise funds for capacity expansion, R&D enhancement, strategic acquisitions, IT system upgrades, and general corporate purposes [1][2]. Company Overview - Established in 2006, Coosea Intelligent specializes in end-to-end solutions for smartphones, including R&D, design, production, sales, and service [2]. - The company serves local smartphone brands lacking independent design and production capabilities, providing consumer smartphones, rugged phones, and IoT products [2]. - Coosea Intelligent has developed over 526 smartphone models and 46 other smart devices as of December 31, 2024 [2]. Production Capacity - As of December 31, 2024, Coosea Intelligent's production facilities include six SMT production lines with an annual capacity of 6.3 million units and eight smart device assembly lines with a capacity of 4.7 million units [3]. Market Position - Coosea Intelligent is the second-largest end-to-end solution provider for local smartphone brands globally by shipment volume in 2024, having reached the top position in Q1 of the same year [3]. Financial Performance - Revenue figures for Coosea Intelligent are as follows: approximately CNY 1.71 billion in 2022, CNY 2.30 billion in 2023, and CNY 2.72 billion in 2024 [4][5]. - The company reported profits of approximately CNY 110 million in 2022, CNY 203 million in 2023, and CNY 207 million in 2024 [4][5]. Customer Concentration - In 2022, 2023, and 2024, the revenue contribution from the top five customers was 38.4%, 44.1%, and 42.8%, respectively, indicating a high customer concentration [7]. - The retention rates for major local brand clients and telecom operators were 92.9% and 100%, respectively, in 2024 [7]. Revenue Breakdown by Region - As of December 31, 2024, 35% of Coosea Intelligent's revenue came from the Greater China region, while 28.2% was from the Americas [9].

Group 1 - The core viewpoint of the article is that KUSAI Intelligent Technology Co., Ltd. has submitted its listing application to the Hong Kong Stock Exchange, aiming to leverage its position as a leading provider of end-to-end solutions for local smartphone brands and telecom operators [1][3] - KUSAI is recognized as the second-largest end-to-end solution provider for local smartphone brands by shipment volume in 2024, and it is projected to become the largest by the first quarter of 2025 [1] - The company has developed over 526 models of smartphones and printed circuit board components, along with more than 46 types of other smart devices by the end of 2024 [1] Group 2 - KUSAI's revenue has shown robust growth, increasing from RMB 1,713.5 million in 2022 to RMB 2,301.9 million in 2023, representing a growth of 34.3%, and further rising by 18.0% to RMB 2,717.0 million in 2024 [2] - The gross profit also increased significantly, from RMB 328.4 million in 2022 to RMB 504.1 million in 2023, a growth of 53.5%, and then by 20.2% to RMB 605.8 million in 2024 [2] - Net profit rose from RMB 110.1 million in 2022 to RMB 203.2 million in 2023, an increase of 84.6%, and further to RMB 206.6 million in 2024 [2]