HanGao Group submitted its registration for IPO on the Shenzhen Stock Exchange, engaged in the production and sales of home hardware and other products.

On April 25, Honco Group Co., Ltd (referred to as Honco Group) applied for a change in the status of its IPO review on the Shenzhen Stock Exchange main board to "submit registration". Guotai Haitong is its sponsoring institution, with a planned fundraising of 420 million yuan. The prospectus shows that Honco Group is mainly engaged in the research and development, design, production, and sales of home hardware and outdoor furniture products, integrating diversified original designs with high-quality products, and is committed to providing customers with exquisite appearance, rigorous materials, and strong practicality of home storage hardware, basic hardware, kitchen and bathroom hardware, and outdoor furniture products. The company's products have a wide coverage and are widely used in various applications such as kitchens, bathrooms, bedrooms, dining rooms, courtyards, etc. The company sells products domestically and internationally through a combination of distribution and direct sales, as well as online and offline channels, meeting the diverse needs of domestic and foreign customers and laying a good foundation for the company's sustainable development. During the reporting period, the company's major customers include Beijing DeFengtai Home Supplies Co., Ltd., Nanjing Chenlai Home Furnishing Trade Co., Ltd., Suzhou Wufan Home Furnishing Co., Ltd., and Kaja Horeca Interieur B.V. Currently, the home hardware market is relatively fragmented, with most companies in the industry focusing on OEM manufacturing, small scale, and serious homogenization to compete on price. With the optimization of industrial structure and the upgrading of market consumption, leading companies in the industry rely on their advantages in product quality, brand, channels, technology, management, and scale to shift their development focus to the mid-to-high end market, providing high-quality, diversified products to the market. The mid-to-high end market of home hardware is mainly dominated by foreign brands, including Balon, Heidi Shi, and Kaisaboma, domestic brands are also improving market competitiveness through product innovation, technological upgrades, brand building, breaking through to the mid-to-high end market. Local representative companies include Honco Group, Dongtai Hardware, Tute Shares, Huitailong, Yajie Hardware, etc. In terms of finance, in 2022, 2023, and 2024, Honco Group is expected to achieve operating income of approximately 1.62 billion yuan, 2.22 billion yuan, and 2.85 billion yuan respectively; during the same period, net profit is expected to be approximately 206 million yuan, 333 million yuan, and 531 million yuan respectively.