New stock news | AUDIOWELL (920491.BJ) has submitted an application to the Hong Kong Stock Exchange, mainly engaged in the research, development, manufacturing, and sales of sensors and actuators.

According to the disclosure on November 27th by the Hong Kong Stock Exchange, Guangdong AUDIOWELL Sensing Technology Co., Ltd. (920491.BJ) submitted its application to the Hong Kong Stock Exchange Main Board, with CMSC International serving as its exclusive sponsor. According to the prospectus, the company is mainly engaged in the research, development, manufacturing, and sale of sensors and actuators, focusing on providing comprehensive intelligent sensing and actuation solutions for multiple high-growth downstream application fields. The prospectus shows that AUDIOWELL is committed to providing intelligent sensing and precision micro-actuation solutions for various scenarios in the interaction between artificial intelligence and the physical world, such as smart homes, smart cars, smart terminals, and smart manufacturing. The company currently focuses on four core solution scenarios, including (i) smart home solutions; (ii) smart car solutions; (iii) smart terminal solutions; and (iv) smart manufacturing solutions. Among them, smart home and smart car solutions constitute the current business foundation. AUDIOWELL's application scenario solutions are based on two types of products - sensors and actuators as the core underlying implementation carriers for practical applications. The company has built a unique technology value chain based on the IDM (Integrated Device Manufacturer) model, integrating all key sensor and actuator production processes in facilities, covering sensitive materials, transducer chips, algorithms, and precision manufacturing, thereby providing one-stop, customized, and highly reliable sensor and actuator hardware solutions for intelligent applications in the AI era. According to customer needs, AUDIOWELL provides various tailored sensors, precision micro-actuators, and sensor or actuator modules, which are essential core components for the "perception layer" and "application layer" empowerment scenarios of AI. According to Frost & Sullivan data, in terms of global smart home product sensor revenue, AUDIOWELL ranked second in China in 2024; in terms of global automotive ultrasonic sensor and actuator shipments, AUDIOWELL ranked third globally in 2024; in terms of global sensor shipments, AUDIOWELL ranked fifth in China in 2024; in terms of global automotive sensor shipments, the company ranked third in China in 2024. AUDIOWELL's independently developed next-generation AKII automotive ultrasonic sensors effectively support ADAS/AVP, making it the first participant in China to achieve mass production and application of this type of sensor. As of June 30, 2025, AUDIOWELL has three domestic production bases located in Guangzhou, Zhaoqing, and Jingdezhen, China, as well as an overseas production base in Selangor, Malaysia. The following are business highlights for AUDIOWELL: Financial Data Revenue In 2022, 2023, and 2024, AUDIOWELL's revenue was RMB 378 million, RMB 467 million, and RMB 617 million, respectively, with a compound annual growth rate of 27.8%. Revenue increased further by 15.1% from RMB 284 million in the six months ended June 30, 2024, to RMB 327 million in the six months ended June 30, 2025. Net Profit In 2022, 2023, and 2024, AUDIOWELL's net profit was RMB 52.618 million, RMB 76.978 million, and RMB 93.951 million, respectively, with a compound annual growth rate of 33.6%. Net profit increased by 3.9% from RMB 45.181 million in the six months ended June 30, 2024, to RMB 46.96 million in the six months ended June 30, 2025. Net Profit Margin In 2022, 2023, and 2024, as well as in the six months ended June 30, 2024, and June 30, 2025, the net profit margin was 13.9%, 16.5%, 15.2%, 15.9%, and 14.4%, respectively. Industry Overview The sensor and actuator market is steadily growing and is expected to continue expanding due to the demand for intelligent sensing and precise motion control. According to Frost & Sullivan data, the global sensor and actuator market sizes expanded from USD 189.1 billion and USD 262.1 billion in 2020 to USD 237.1 billion and USD 320.5 billion in 2024, with compound annual growth rates of 5.8% and 5.2%, respectively. During the same period, the sizes of the sensor and actuator markets in China increased from RMB 292.9 billion and RMB 394.5 billion to RMB 398.3 billion and RMB 499.1 billion, with compound annual growth rates of 8.0% and 6.1%, respectively. Looking ahead, the increasing demand for intelligent perception and precise motion control is driving the trend towards sensors and actuators with higher performance, miniaturization, and software-enhanced functions. It is expected that both the global and Chinese sensor and actuator markets will continue to grow steadily, with compound annual growth rates of approximately 4.8% and 6.2% from 2024 to 2029, reaching sizes of approximately USD 703.6 billion and RMB 1,209.6 billion by 2029. Actuators used in smart home products are typically classified as micro-actuators. Compared to actuators in the automotive and industrial manufacturing sectors, which often require high power, strong forces, and operation in harsh environments, specialized actuators for smart homes focus more on miniaturization, low energy consumption, and precise control of small movements. In 2024, the market sizes for sensors in global smart home products and actuators in smart home products were approximately USD 23 billion and USD 45.9 billion, respectively. The Chinese market sizes were also significant, reaching approximately RMB 44.9 billion and RMB 86.5 billion in the same year. With smart functions continuing to be integrated into residential environments and the development of IoT connectivity, energy efficiency, and user-centric automation technologies, the market for sensors and actuators in smart home products is expected to reach approximately USD 87.9 billion and RMB 195.6 billion by 2029, with estimated compound annual growth rates of approximately 5.0% and 8.3% from 2024 to 2029. In the automotive sector, the market for sensors and actuators reached approximately USD 45.7 billion and USD 40.6 billion, respectively, in 2024. This reflects compound annual growth rates of approximately 6.2% and 4.1% from 2020 to 2024. In China, the market sizes for automotive-specific sensors and actuators reached approximately RMB 89.5 billion and RMB 86.7 billion, with compound annual growth rates of approximately 11.0% and 5.8%, respectively, from 2020 to 2024. In the smart terminal market, the market for sensors and actuators fluctuated from 2020 to 2024 due to the imbalance in supply and demand caused by the pandemic, macroeconomic pressures, and delayed innovation cycles. Looking ahead, as AI-driven product upgrades, application scenario expansions, and gradual economic recovery occur, the market is expected to rebound. From 2024 to 2029, the global and Chinese markets for sensors and actuators in smart terminals are expected to expand at compound annual growth rates of approximately 2.5% and 4.8%, reaching sizes of approximately USD 71.9 billion and RMB 120.1 billion by 2029. Board of Directors Information AUDIOWELL's Board of Directors consists of eight members, including four executive directors, one non-executive director, and three independent non-executive directors. Except for Mr. Zhang and Ms. Huang, who are spouses, the company's directors and senior management team members have no other connection with other directors or senior management team members. Equity Structure As of the last practicable date, the company's executive director, chairman of the board and general manager Mr. Zhang, and his spouse, executive director Ms. Huang, directly hold 21,718,940 shares and 2,536,770 shares of A shares, respectively, accounting for approximately 15.39% and 1.80% of the company's issued share capital. Therefore, Mr. Zhang and Ms. Huang are the single largest shareholder group of the company. Together, Mr. Zhang and Ms. Huang have a stake in 24,255,710 shares of A shares, accounting for 17.19% of the company's issued share capital. Since Mr. Zhang and Ms. Huang are in a spousal relationship, they are considered to have an interest in each other's respective share capital in the company. They constitute the single largest shareholder group of AUDIOWELL. AUDIOWELL Investment (Hong Kong) is a limited liability company established under Hong Kong law on June 19, 2023, primarily engaged in investment business. Intermediary Team Sole Sponsor: CMSC (Hong Kong) Limited Chinese Legal Adviser: JunHe Law Office Legal Adviser to Sole Sponsor: King & Wood Mallesons Auditors and Reporting Accountants: Deloitte Touche Tohmatsu Limited Industry Consultant: Frost & Sullivan Consulting (Beijing) Co., Ltd. Compliance Consultant: Success Finance Limited