New stock news | Shanghai Longcheer Technology (603341.SH) submitted an application to the Hong Kong Stock Exchange. As the world's top smart phone ODM (Original Design Manufacturer) company, its revenue is greatly affected by fluctuations in ODM shipments.

On June 27, Shanghai Longcheer Technology (603341.SH) submitted an application to the Hong Kong Stock Exchange, with Citi, Haitong International, and Guotai Junan International as joint sponsors. According to the prospectus, Shanghai Longcheer Technology is a leading global provider of intelligent products and services, offering comprehensive solutions to globally renowned intelligent product brands and leading technology companies, including product research, design, manufacturing, and support. The company currently has a diverse product portfolio covering smart phones, AI PCs, automotive electronics, tablet computers, smartwatches/wristbands, and smart glasses, with its core customers including top brands like Xiaomi, Samsung Electronics, Lenovo, Honor, OPPO, and vivo. In 2024, the company was listed on the main board of the Shanghai Stock Exchange (security code: 603341.SH). In the prospectus, Shanghai Longcheer Technology describes its core business model as comprehensive ODM services, which involve integrating product hardware design, module customization, system-level software platform development, RF and antenna tuning, system-level testing and certification, supply chain management and component selection, and scalable manufacturing operations to provide integrated solutions. According to Frost & Sullivan data based on consumer electronics ODM shipments in 2024, the company is the world's second-largest consumer electronics ODM manufacturer. Based on smart phone ODM shipments in 2024, Shanghai Longcheer Technology is the world's number one smart phone ODM manufacturer. As disclosed in the prospectus, Shanghai Longcheer Technology's revenue decreased from RMB 29.343 billion in 2022 to RMB 27.185 billion in 2023, and increased to RMB 46.382 billion in 2024. The company attributes its past revenue fluctuations mainly to fluctuations in ODM shipments, which are influenced by consumer demand for smart products. The company's net profit increased by 7.3% from approximately RMB 562 million in 2022 to approximately RMB 603 million in 2023. In 2024, the company's net profit decreased by 18.1% to approximately RMB 493 million compared to the previous year.