New Stock News | Huaqin Co., Ltd. (603296.SH) is reportedly preparing for an IPO in Hong Kong with expectations to raise at least 600 million US dollars.

On April 7th, the "Unicorn Insight" WeChat public account published an article stating that Huaqin Co., Ltd. (603296.SH) initiated Pre-Deal Investor Education (PDIE) before its Hong Kong listing on April 7th, with an expected transaction size of 600 to 800 million US dollars, depending on market conditions. Huaqin Co., Ltd. submitted applications to the Hong Kong Stock Exchange on September 16, 2025, and March 23, 2026; received a notice from the China Securities Regulatory Commission on January 28 to issue no more than 1.015731 billion shares for overseas listing; and passed the listing hearing at the Hong Kong Stock Exchange on March 30, with CICC and Bank of America Merrill Lynch as its joint sponsors. According to the prospectus, based on data from Zhishi Consultancy, Huaqin Co., Ltd. is a full-stack intelligent product ODM platform, achieving global firsts in multiple smart product categories. Additionally, the company was the world's largest consumer electronics ODM manufacturer in terms of shipments in 2024, with a market share of 22.5%. In terms of global smart phone ODM shipments in 2024, the company was also the second largest global smart phone ODM manufacturer with a market share of 25.9%; for global tablet ODM shipments, the company was the largest global tablet ODM manufacturer with a market share of 37.9% in 2024; and for global smart wearable device ODM shipments, the company was the largest global smart wearable device ODM manufacturer with a market share of 18.7% in 2024. Furthermore, in terms of global laptop ODM shipments in 2024, the company was the fourth largest global and the largest Chinese laptop ODM manufacturer with a market share of 9.6%. In terms of 2024 revenues from data infrastructure business in China, the company ranked sixth among all data infrastructure manufacturers in China with a market share of 5.0%.