Longxing Tianxia submits registration for IPO on Shanghai Stock Exchange Main Board, a core supplier to globally renowned sports brands.

On November 10, the IPO review status of Guangdong Longxing Tianxia Technology Co., Ltd. (referred to as: Longxing Tianxia) for its application to the Shanghai Stock Exchange Main Board changed to "Submitted for Registration." CMSC is its sponsor institution, and it plans to raise RMB1.109 billion. According to the prospectus, Longxing Tianxia is primarily engaged in the development, design, production, and sales of sports footwear, and is a professional manufacturer of sports footwear with scale advantages, brand influence, and market competitiveness. The company has established long-term stable cooperative relationships with well-known sports brands such as Under Armour, LI NING, Decathlon, adidas, ANTA, HOKA, La Sportiva, and Vibram. Its main products include casual sports shoes, running shoes, basketball shoes, professional sports shoes, and outdoor trail boots. From 2023 to 2025, the company was awarded the Best Supplier Award in LI NING's brand evaluation. From 2024 to 2025, it received the Under Armour Supplier MVP Award for five consecutive quarters. In 2023, it ranked first in adidas' supplier SPIKE scoring system; in 2024, it received adidas' Most Competitive Award and Game Changer Award; its footwear automated production line project won the "Automation Lighthouse Award" and "Silver Award" at adidas' 2024 and 2025 North Asia ME Summits, respectively; its lean digital management system won the "Bronze Award" at adidas' 2026 China ME Summit; it was awarded the "G.O.A.T." award for adidas China footwear suppliers for January-June 2026; and the company is one of only five strategic partners of Decathlon's footwear business globally. As of the end of June 2026, the company had established 26 factories in China, Vietnam, and Indonesia, including 15 domestic factories, with 26,322 employees worldwide. In 2025, its sports footwear output was approximately 50 million pairs, and from January to June 2026, its sports footwear output was approximately 25 million pairs. It is a sports footwear manufacturer with comprehensive competitive advantages, and the company will continue to invest in and build production bases both domestically and overseas in the future to continuously expand its scale advantages and enhance its market competitiveness. The company is deeply engaged in large-scale customized production of sporting goods and implements a core operating model of production based on sales, scheduling based on demand, and lean production. Production plans, capacity allocation, and work arrangements are all formulated around customer order delivery dates, quality standards, and brand peak and off-season demand, achieving efficient capacity utilization and precise order delivery. Benefiting from comprehensive factors such as China's sports policy support, released demand for residents' fitness activities, the rise of domestic-trend sports shoe brands, and the rapid expansion of online retail channels, according to Frost & Sullivan data, the market size of China's sports shoe manufacturing industry grew from RMB33.6 billion in 2021 to RMB47.8 billion in 2025, with a compound annual growth rate of 9.3%. It is expected that China's sports footwear manufacturing industry will continue to grow steadily and stably from 2026 to 2030, and the industry size is expected to exceed RMB70 billion by 2030. In terms of financials, for the years 2023, 2024, 2025, and January-June 2026, the company achieved operating revenue of approximately RMB4.211 billion, RMB5.588 billion, RMB5.834 billion, and RMB3.177 billion, respectively; during the same periods, net profit was approximately RMB212 million, RMB281 million, RMB264 million, and RMB174 million, respectively.