Huaqin Technology to Launch Hong Kong Stock PDIE on April 7, Aiming to Raise $600M to $800M to Strengthen Global ODM Leadership Position

Huaqin Technology, a platform-based company that has focused on intelligent products for more than 20 years, is about to begin its new journey toward listing on the Hong Kong Stock Exchange. It is understood that the company plans to launch PDIE (Pre-Deal Investor Education) ahead of its Hong Kong listing on April 7. The deal size is expected to be between US$600 million and US$800 million, with the specific amount adjusted flexibly according to market conditions. Previously, Huaqin Technology successfully passed the Hong Kong Stock Exchange’s main board listing hearing on March 30. CICC and BofA SECURITIES served as joint sponsors.

As a leading player in the global intelligent products ODM sector, Huaqin Technology brings together core technologies such as artificial intelligence, the Internet of Things, big data, and communications to provide intelligent products for technology companies worldwide. Its offerings span mobile terminals, computing and data center businesses, AIoT, and innovative business areas. According to Analysys Consulting, Huaqin Technology holds global leading positions across multiple intelligent product categories, with especially strong performance in the consumer electronics ODM segment. In 2024, the company became the world’s largest consumer electronics ODM vendor with a 22.5% market share, while also maintaining leading positions in multiple sub-segments including smartphones, tablet computers, and smart wearables.

Huaqin Technology’s success is inseparable from the intelligent products platform it has built to support development across multiple categories. The company is based on three major pillar products: smartphones, notebook computers, and servers, and it continually extends into edge businesses, developing N related products, including mobile terminals and AIoT, as well as computing business and data center products, among others. The company also actively lays out plans in innovative fields such as automotive electronics, software, and robotics to meet the needs of emerging customers and drive diversification in its product portfolio.

In terms of research and development, Huaqin Technology continues to increase its investment and steadily enhance its technical strength. As of December 31, 2025, the company has approximately 3,500 domestic registered patents, more than 50 international registered patents, and about 2,100 registered software copyrights. This accumulation of intellectual property provides strong assurance for the company’s ongoing innovation. At the same time, the company’s sales volume is also showing a steady growth trend, rising from 85.34B units in 2023 to 109.88B units in 2025, mainly due to ongoing efforts to diversify products and expand its customer base.

With the widespread adoption of artificial intelligence applications, mobile terminal products are entering a new iteration cycle. Product categories are becoming more diverse, and smart interaction experiences are being greatly enhanced. Analysys Consulting predicts that the combined shipments of global smartphones, tablet computers, and smart wearables will increase from 171.44B units in 2025 to 2,321.4 million units in 2030. This trend creates broad room for development for platform-based ODM vendors such as Huaqin Technology. In addition, the rise in smartphone ODM penetration will further drive growth in ODM shipments.

In financial performance, Huaqin Technology has also shown a strong momentum for growth. From 2023 to 2025, the company’s revenue was 2.92B yuan, 4.13B yuan, and 171.437 billion yuan, respectively; profits were 2.657 billion yuan, 2.916 billion yuan, and 4.132 billion yuan, respectively. Although the overall gross margin has fluctuated, the company’s profitability remains solid. The company’s average selling price has also shown an upward trend, rising from 402 yuan in 2023 to 528 yuan in 2025, mainly due to the growth in shipments of AI servers with higher unit prices.

For this Hong Kong Stock Exchange IPO fund-raising, Huaqin Technology plans to use the funds for multiple purposes, including product-centric R&D investment, expanding and optimizing the manufacturing network, strategic investments and vertical integration, as well as working capital and general corporate purposes. These initiatives will help the company further enhance its technical strength, expand its market share, and consolidate its leading position in the global intelligent products ODM sector.