AUX ELECTRIC (02580) officially listed on the Hong Kong Stock Exchange: High performance growth to build foundation, global layout releases long-term potential.

AUX ELECTRIC (02580) officially landed on the Hong Kong stock market on September 2nd. On September 4th, the stock price continued to rise, closing up 3.12%, with a total market value exceeding HK$25.2 billion. This Hong Kong IPO has attracted high attention from global capital. The Hong Kong public offering received approximately 557.2 times oversubscription, while the international placement received 8.3 times subscription. After the exercise of oversubscription rights, the final number of international placement shares is 154.9 million shares, equivalent to 65% of the total shares offered. This listing also introduced a number of well-known institutions such as China Post Insurance, China Post Wealth Management, and Hualing Hong Kong as cornerstone investors. These cornerstone investors were allocated a total of 55,921,400 shares, accounting for 23.47% of the global shares offered (assuming the exercise of oversubscription rights). The entry of long-term capital is expected to help stabilize the stock price in the early stages of listing and grow with the company. AUX ELECTRIC has a solid position in the global air conditioning market. According to data from Frost & Sullivan, based on sales in 2024, AUX is the fifth-largest air conditioning provider globally, with a market share of 7.1%. It is worth noting that its compound annual growth rate in sales from 2022 to 2024 is as high as 30.0%, far exceeding the global air conditioning market's 4.6% compound annual growth rate during the same period, making it one of the fastest-growing air conditioning brands globally. This sustained growth capacity will lay a solid foundation for its long-term value. In terms of revenue structure, the company shows a "stable domestic, overseas expansion" global layout feature, with overseas markets serving as important growth engines. Its business covers over 150 countries and regions worldwide. As of the three months ending March 31, 2025, AUX ELECTRIC's overseas revenue has increased to 57.1%. Over the years, the company has also promoted its own brand through the OBM model, establishing overseas sales offices and local teams in places like Malaysia, Thailand, and the United States, gradually increasing the influence of its own brand. The deep global layout has laid the foundation for mitigating single-market risks, seizing opportunities in emerging markets, and providing security for long-term profit growth. Capital market value discovery is a continuous process. AUX ELECTRIC's steady revenue growth, reasonable valuation positioning, and continuous market expansion are expected to substantial performance returns in the course of time.