Core Viewpoint - Jiangxi Avonflow HVAC Technology Co., Ltd. is preparing for its initial public offering (IPO) on the ChiNext board, with the underwriting process being managed by Zheshang Securities Co., Ltd. The company has met the necessary legal and regulatory requirements for the IPO, indicating a strong foundation for future growth and investment opportunities [1][6][9]. Company Overview - The company was established on July 28, 2005, and became a joint-stock company on April 15, 2015, with a registered capital of 65 million yuan [3]. - The company specializes in the research, design, production, and sales of HVAC products, particularly focusing on bathroom towel racks and related components [18][29]. Financial Performance - The company's revenue has shown consistent growth, with reported figures of 762.22 million yuan, 830.27 million yuan, and 1.04983 billion yuan over the past three years [19]. - The net profit attributable to the parent company was 88.73 million yuan, 87.40 million yuan, and 127.61 million yuan during the same period, indicating sustainable profitability [11]. Market Position and Competitive Advantage - Jiangxi Avonflow is recognized as a high-tech enterprise and has received various accolades, including being a provincial-level enterprise technology center and a champion enterprise in manufacturing [28]. - The company holds 662 domestic patents, including 87 invention patents, showcasing its strong research and development capabilities [28]. Industry Context - The HVAC industry, particularly in the bathroom segment, is experiencing growth due to increasing consumer demand for innovative and high-quality products [18]. - The company operates primarily in the overseas market, with over 90% of its revenue coming from exports, particularly to Europe [25]. Future Prospects - The company plans to utilize the funds raised from the IPO for expanding its production capacity and enhancing its technological capabilities, which is expected to further solidify its market position [23][31]. - The management believes that with effective execution of its strategic plans, the company will continue to experience favorable growth in the coming years [31].