New stock news | CoolTech Intelligent enters the Hong Kong Stock Exchange as a global leading smartphone ODM company.

According to the disclosure on December 31 by the Hong Kong Stock Exchange, Coolpad Smart Technology Co., Ltd. (referred to as Coolpad Smart) has submitted an application for listing on the Main Board of the Hong Kong Stock Exchange, with CITIC SEC as its exclusive sponsor. This is the company's second submission to the Hong Kong Stock Exchange this year, with the first one being on June 25. Company Overview The prospectus shows that Coolpad Smart is a leading global smartphone ODM company, providing solutions that include product definition, research and development, supply chain management, manufacturing, and after-sales service. During the reporting period, the company's revenue came from more than 70 countries or regions, including Asia, the Americas, Europe, Oceania, and Africa. According to Frost & Sullivan data, by 2024, based on shipment volume, Coolpad Smart is the world's second-largest ODM solution provider for local smartphone brands; in the first quarter of 2025, Coolpad Smart rose to first place. Over the years, Coolpad Smart has become a leading global smartphone ODM company with extensive experience in operating and managing smartphone brands independently, distinguishing itself from most market participants that started with other brand manufacturers. The company's ability to define smart hardware products enables precise definition of products based on a deep understanding of factors such as the overall consumption level of relevant countries or regions, main functional preferences of customer groups, local culture, and competitive landscape. With outstanding product definition capabilities, Coolpad Smart provides customized products to meet specific customer needs while maintaining cost advantages and excellent product performance to offer a better consumer experience. During the reporting period, Coolpad Smart mainly provided customers with (i) smart devices, including (a) consumer smartphones, (b) three-proof smartphones designed for industrial end-users with waterproof, dustproof, and shockproof functions, and (c) other Internet of Things (IoT) devices, which are devices that collect, connect, and exchange data with other connected devices; (ii) as independent products, printed circuit board components (core components of smartphones) and Internet services, including (a) printed circuit board components and Internet services for consumer smartphones, (b) printed circuit board components for three-proof smartphones, and (c) other IoT-related printed circuit board components; and (iii) others, mainly including material procurement and research and design services. In 2006, Coolpad Smart successfully designed and developed the first printed circuit board component to meet the growing demand for mobile phones and other products in the market. The company designs and develops printed circuit board components based on customer specifications and the various functions customers expect the product to have. In addition, the company launched its first consumer smartphone in 2011 and its first three-proof smartphone in 2019, both of which were significant milestones in the company's product development history. To keep up with technological trends and anticipate the increasing popularity of smartphones, Coolpad Smart has established core technology systems for consumer smartphones and three-proof smartphones over the years. The company designs and provides smartphones with a wide range of technical specifications to meet the needs of customers in different regions around the world. Additionally, foreseeing the potential growth in the IoT market, Coolpad Smart has also allocated resources for the research and development of other IoT products and launched its first IoT-related printed circuit board in 2022 and its first IoT product in 2024. As of July 31, 2025, Coolpad Smart has developed over 598 models of smartphones and printed circuit board components and more than 46 other smart devices. Additionally, the company continues to optimize its independently developed didoOS through multiple iterations to meet the specific customization needs of global local brands and telecom operators and enhance user experience. As of July 31, 2025, the company's global sales network covers over 70 countries or regions across Asia, the Americas, Europe, Oceania, and Africa. Financial Information Revenue For the fiscal years 2022, 2023, 2024, and the seven months ended July 31, 2025, the company achieved revenues of approximately RMB 1.713 billion, RMB 2.302 billion, RMB 2.717 billion, and RMB 1.584 billion, respectively. Annual/Period Net Profit For the fiscal years 2022, 2023, 2024, and the seven months ended July 31, 2025, the company recorded annual/period net profits of approximately RMB 110 million, RMB 203 million, RMB 207 million, and RMB 103 million, respectively. Net Profit Margin For the fiscal years 2022, 2023, 2024, and the seven months ended July 31, 2025, the company recorded net profit margins of 6.4%, 8.8%, 7.6%, and 6.5%, respectively. Industry Overview Based on their sales scope and shipment volume, smart hardware products can be divided into two categories: global brands and local brands. Local brands are mainly concentrated in specific regional markets and are better suited to local market demands. From 2020 to 2024, the shipment volume of smart hardware for local brands increased from 191 million units to 276 million units, and it is expected to further increase during the forecast period, reaching 388 million units by 2029. Compared to global brands, local brands continue to increase their share in the overall smart hardware shipment volume due to advantages such as flexibility, rapid responsiveness, cost-effectiveness, personalized and innovative design, and precise segmentation of market positioning. In 2024, the market share of local brands in the total smart hardware shipment volume reached 11.3%, and their market penetration rate is expected to steadily increase, reaching 13.9% by 2029. In recent years, the global smartphone market has approached saturation, with a slowdown in new demand for smartphones and a decrease in replacement frequency. As a result, there has been some fluctuation in the growth rate of global smartphone shipments, slightly decreasing from 1.323 billion units in 2020 to 1.313 billion units in 2024. During the forecast period, the continued development of innovative products like AI smartphones, 5G smartphones, and foldable smartphones will bring new growth momentum to the global smartphone market. In emerging markets such as South Asia, the Middle East, and Latin America, there is still significant room for improvement in smartphone penetration rates. With the economic development in these regions and the increasing demand for smart devices by residents, they are expected to become major driving forces for the future growth of global smartphone shipments. This is expected to drive global smartphone shipments from 1.363 billion units in 2025 to 1.475 billion units by 2029, achieving a compound annual growth rate of 2.0%. In advanced regions represented by the United States and Europe, the smartphone market has become saturated, with high penetration rates and longer consumer replacement cycles. In these markets, smartphone penetration is nearly universal, limiting any new demand significantly. Moreover, with the continuous improvement in device performance and durability, consumers have less urgency to upgrade to new devices. Additionally, the market is dominated by a few global brands with highly similar features and designs, lacking differentiating innovations, further suppressing consumer desire to purchase and resulting in insufficient overall market growth. In contrast, the emerging markets of South Asia, the Middle East, and Latin America still have considerable development space in the smartphone market. In the South Asian market, especially in India, there is still a large population using feature phones. Due to India's large population base, there is significant demand potential for smartphones in this region. With the development of the Indian economy, the transition from feature phones to smartphones will further drive the development of the smartphone market. Therefore, the increase in smartphone penetration in India will be a core driving factor for the overall development of the South Asian smartphone market. The Middle East region, due to the relatively underdeveloped economies of most countries, has lower consumer consumption of smartphones. Currently, the smartphone market in this region is mainly dominated by mid-to-low-end models. However, with the economic development of non-oil countries in the Middle East and the increase in residents' income, the demand for smartphones, especially entry-level smartphones, will significantly grow. Additionally, active promotion of 5G deployment by Middle Eastern operators will further drive the development of the smartphone market. In the Latin American smartphone market, the continued entry of Chinese brands and increased competition are expected to drive the development of the smartphone market in the region. Overall, the smartphone markets in South Asia, the Middle East, and Latin America are expected to maintain a fast growth rate from 2025 to 2029, with smartphone shipments increasing from 191 million units, 113 million units, and 139 million units in 2025 to 205 million units, 123 million units, and 154 million units in 2029, with compound annual growth rates of 1.8%, 2.0%, and 2.7%, respectively. Board of Directors Information The company's board of directors consists of 6 directors, including 3 executive directors and 3 independent non-executive directors. Directors serve a three-year term and may be re-elected for consecutive terms upon the expiration of their term. Shareholding Structure Through a series of capital increases and transfers, Coolpad Communications is held by Coolpad Holdings with a stake of approximately 63%, Mr. Wang with a stake of 13.5%, Mr. Wu with a stake of 13.5%, Shenzhen BODONG with a stake of 3.2%, Shenzhen BORUI with a stake of 3.1%, Shenzhen Zhiheng with a stake of 2.2%, and Shenzhen BOFENG with a stake of 1.5%. Intermediary Team Exclusive Sponsor: CITIC SEC (Hong Kong) Limited. Company Legal Advisors: For Hong Kong law: Deacons; for Chinese law: JunHe Law Firm; for Hong Kong third-party payments law: Lu Junyu; for Cayman Islands law: Walkers; for US law: Sherman Shi Law Group P.C.; for Yemen law: Sheikh Mohammed Abdullah Sons; for international sanction law: Ashurst Tokyo (Ashurst Horitsu Jimusho Gaikokuho Kyodo Jigyo). Exclusive Sponsor Legal Advisors: For Hong Kong law: DeHeng Law Offices; for Chinese law: JunHe Law Firm. Auditors and Reporting Accountants: KPMG. Industry Consultants: Frost & Sullivan Consulting (Beijing) Co., Ltd. Shanghai Branch. Property Valuation Appraisers: Boho Enterprise Consultants Limited. Compliance Advisors: Lighome Enterprise Financing Co., Ltd.