New stock news | Shanghai Longcheer Technology (603341.SH) listed on the Hong Kong Stock Exchange, becoming the world's largest smartphone ODM manufacturer.

According to the disclosure on December 30 by the Hong Kong Stock Exchange, Shanghai Longcheer Technology Co., Ltd. (referred to as Shanghai Longcheer Technology (603341.SH)) conducted a listing hearing on the main board of the Hong Kong Stock Exchange with Citigroup, Haitong International, and Guotai Junan International as joint sponsors. The prospectus shows that Shanghai Longcheer Technology is a leading global provider of intelligent products and services, offering solutions to globally renowned intelligent product brands and leading technology companies, including product research, design, manufacturing, and support. According to Frost & Sullivan data, based on the 2024 consumer electronics ODM shipments, the company is the world's second-largest consumer electronics ODM manufacturer with a market share of 22.4%. Based on the 2024 smartphone ODM shipments, the company is the world's largest smartphone ODM manufacturer with a market share of 32.6%. The company mainly competes in the global consumer electronics ODM market, which is a sub-sector of the global intelligent product ODM market, and the global intelligent product ODM market is a part of the global intelligent product manufacturing industry. With its mature value chain expertise, the company has built a diversified product portfolio covering smartphones, AIPC, automotive electronics, tablets, smartwatches/wearables, and smart glasses. The company has also built a broad customer base, including leading brands such as Xiaomi, Samsung Electronics, Lenovo, Honor, OPPO, and Vivo. These achievements are attributed to the company's R&D and engineering team of around 5,200 professionals with rich experience in developing products across multiple platforms and operating systems. Shanghai Longcheer Technology has created the industry's most extensive and comprehensive intelligent product ecosystem for the most popular platforms such as Android and Windows. Around the new customer demands, market opportunities, and technological innovations in the AI era, the company's product portfolio is framed as "1+2+X," with smartphones as the core track, personal computing and automotive electronics as the key development businesses, and a diverse range of categories including tablets, wearables, TWS earphones, and smart glasses representing the emerging consumer electronics sector. This framework complements the company's comprehensive product portfolio. In 2024, the revenue from the company's smartphones reached 36.133 billion yuan, accounting for approximately 77.9% of total annual revenue; the revenue from the company's tablet business was 3.696 billion yuan, accounting for approximately 8% of total annual revenue; the revenue from the company's AIoT business grew rapidly to 5.573 billion yuan, accounting for approximately 12% of total annual revenue. Financially, for the fiscal years 2022, 2023, 2024, and for the nine months ending September 30 of 2024 and 2025, Shanghai Longcheer Technology achieved revenues of approximately 29.343 billion yuan, 27.185 billion yuan, 46.382 billion yuan, 34.921 billion yuan, and 31.332 billion yuan respectively. During the same period, the net profit for the year was approximately 562 million yuan, 603 million yuan, 493 million yuan, 425 million yuan, and 514 million yuan, respectively.