New Stock News | Global consumer electronics ODM leader Huaqin Technology(603296.SH) undergoes hearing at Hong Kong Stock Exchange.

According to the disclosure on the Hong Kong Stock Exchange on March 30th, Huaqin Technology Co., Ltd. (Huaqin Technology (603296.SH)) is undergoing a listing hearing on the Hong Kong Stock Exchange Main Board, with CICC and BofA SECURITIES as joint sponsors. The prospectus shows that, according to information from Zhishi Consulting, Huaqin Technology is a full-stack intelligent product ODM platform that has achieved global firsts in multiple intelligent product categories. In addition, based on global consumer electronics ODM shipments, the company is expected to be the world's largest consumer electronics ODM manufacturer in 2024, with a market share of 22.5%. Based on global smartphone ODM shipments, the company is also expected to be the world's second-largest smartphone ODM manufacturer in 2024, with a market share of 25.9%; based on global tablet ODM shipments, the company is expected to be the world's largest tablet ODM manufacturer in 2024, with a market share of 37.9%; based on global smart wearables ODM shipments, the company is expected to be the world's largest smart wearables ODM manufacturer in 2024, with a market share of 18.7%. Furthermore, based on global notebook ODM shipments in 2024, the company is the world's fourth largest and China's largest notebook ODM manufacturer, with a market share of 9.6%; based on China's data infrastructure business revenue in 2024, the company ranks sixth among all data infrastructure manufacturers in China, with a market share of 5.0%. In the future, global consumer electronics product shipments are expected to reach approximately 2.553 billion units by 2030, with a compound annual growth rate of 3.2% from 2025 to 2030. The key driving factors for this expected growth will be the proliferation of artificial intelligence. Artificial intelligence continues to drive the emergence of new products such as AI smartphones and AIPC, which is expected to generate new demand and unlock new growth opportunities. In addition, artificial intelligence continues to enhance the performance and functionality of existing products, enabling features such as intelligent personal assistants and advanced real-time translation. These advancements help stimulate replacement demand and accelerate the product iteration cycle of the entire consumer electronics industry. Global consumer electronics ODM shipments are expected to increase from approximately 844 million units in 2020 to approximately 1.053 billion units in 2025, with a compound annual growth rate of 4.5%. As market competition intensifies and product iteration cycles shorten, ODM manufacturers can help clients achieve more efficient product iteration and greater economic benefits, further driving up ODM penetration rates. The global consumer electronics ODM penetration rate, i.e. the proportion of global consumer electronics ODM manufacturers' global shipments to total global shipments, is expected to increase from 48.3% in 2025 to 58.3% in 2030. Global consumer electronics product ODM shipments are expected to reach approximately 1.489 billion units by 2030, with a compound annual growth rate of 7.2%, showing a higher growth rate compared to global consumer electronics product shipments. Huaqin Technology has established a multi-category development platform for intelligent products, providing end-to-end solutions for customers. The company strategically positions its business in a "3+N+3" product matrix, rooted in three pillar products - smartphones, notebooks, and servers. Building on these three pillar products, the company has developed N types of related products, extending to edge business areas including mobile terminals and AIoT, computing business, and data center products. The company continues to explore new opportunities in innovative fields such as automotive electronics, software, and Siasun Robot & Automation, to further meet the needs of emerging customers and drive diversification of its product portfolio. Financially, in the fiscal years 2023, 2024, and 2025, Huaqin Technology achieved revenues of approximately RMB 85.338 billion, RMB 109.878 billion, and RMB 171.437 billion respectively; during the same period, the company achieved profits of approximately RMB 2.657 billion, RMB 2.916 billion, and RMB 4.132 billion respectively.