Core Viewpoint - Anker Innovations Technology Co., Ltd. has submitted its listing application to the Hong Kong Stock Exchange, marking a new chapter in its capital journey as a leader in the global smart hardware sector [4]. Business Overview - Anker Innovations operates across three main product lines: smart charging and energy storage, smart home and innovation, and smart audio, creating a comprehensive ecosystem of smart hardware [5][6]. - The smart charging and energy storage segment serves as the foundation of the business, featuring a full range of charging devices and consumer-grade energy storage solutions under the Anker and AnkerSOLIX brands [5]. - The smart home segment focuses on upgrading home scenarios through the eufy brand, offering privacy-first security products and innovative cleaning solutions [6]. - The smart audio segment, represented by the soundcore brand, includes a diverse range of wireless products such as headphones and portable projectors, enhancing user audio-visual experiences [6]. Market Position and Growth - Anker Innovations has established a leading position in various niche markets, being the second-largest player in mobile charging products globally since 2020, with a projected market share of 5.0% by 2024 [7]. - The company has sold products in over 180 countries, accumulating more than 200 million users, with significant growth in emerging markets [7]. - Online sales accounted for 71.2% of revenue in 2024, reflecting a 43.0% year-on-year growth, while offline sales also saw a 36.7% increase [7]. Technological Innovation - Technological innovation is a core competitive advantage for Anker Innovations, with a dedicated "2023 Lab" focusing on shared underlying technologies across multiple product categories [8]. - The company has made significant breakthroughs in charging technology, including the introduction of GaN technology, which has been extended to energy storage solutions [8]. - R&D investment has been consistently high, with percentages of annual revenue allocated to R&D reaching 7.6%, 8.1%, and 8.5% from 2022 to 2024, driving a flywheel effect of product innovation and commercial success [8]. Financial Performance - Anker Innovations has demonstrated robust financial growth, with total revenue increasing from 14.3 billion yuan in 2022 to 24.7 billion yuan in 2024, representing a compound annual growth rate (CAGR) of 31.7% [9]. - Gross profit rose from 5.4 billion yuan to 10.6 billion yuan during the same period, with a CAGR of 40.4% [9]. - The company has also prioritized shareholder returns, with dividend rates increasing from 42.7% in 2022 to 52.8% in 2024 [9].