HanGao Group's Shenzhen Stock Exchange IPO has been approved, with annual revenue and net profit increasing year by year.

On April 11, HanGao Group Co., Ltd. (referred to as HanGao Group) was approved for an IPO on the Shenzhen Stock Exchange. The underwriter is Guotai Haitong, with plans to raise 420 million yuan. The prospectus shows that the company is mainly engaged in the research and development, design, production, and sales of home hardware and outdoor furniture products, integrating diverse original designs with high-quality products, and dedicated to providing customers with aesthetically pleasing, meticulously crafted, and highly practical home storage hardware, basic hardware, kitchen and bathroom hardware, as well as outdoor furniture products. In terms of the industry, currently the home hardware market is relatively fragmented, with most companies focusing on OEM manufacturing, small scale, and serious homogenization, resulting in intense price competition for survival. Developed countries and regions such as North America and Europe are the main markets for the outdoor furniture industry, with domestic outdoor furniture companies mainly participating in the market competition by OEM manufacturing or contract manufacturing for foreign brand owners and chain supermarkets. The concentration is relatively low, the competition is fierce, and the construction of their own brands lags behind well-known foreign enterprises, with significant development opportunities in the mid-to-high-end markets. HanGao Group adopts a multi-channel marketing system combining distribution and direct sales, as well as complementing online and offline operations. The domestic offline distribution model is the main focus, with domestic offline distribution revenue accounting for 49.81%, 58.20%, and 57.44% of the main business income in each reporting period. Under the distribution model, the company has established a nationwide distribution network with strong promotion and service capabilities, covering 191 prefecture-level cities in China as of December 31, 2024, and gradually expanding to Europe, North America, Asia-Pacific, Latin America, and other regions. The funds raised from the company's issuance of stocks will be invested in the following projects according to their urgency: Financially, in the years 2022, 2023, and 2024, HanGao Group achieved operating incomes of approximately 1.62 billion yuan, 2.22 billion yuan, and 2.857 billion yuan respectively. During the same period, the company achieved net profits of approximately 206 million yuan, 333 million yuan, and 531 million yuan respectively.