New stock news | Hong Kong IPO prospectus of Xiangjiang Electric Appliance is invalid.

Hubei Xiangjiang Electrical Appliances Co., Ltd. (hereinafter referred to as Xiangjiang Electrical Appliances) submitted a listing application for listing on the Hong Kong stock exchange on September 29, 2024, which expired on March 29, 2025, 6 months after submission. Sinolink (Hong Kong) was the exclusive sponsor at the time of submission. The prospectus shows that Xiangjiang Electrical Appliances is a Chinese manufacturer of quality household products for quality living. It mainly operates in the ODM/OEM model and has established a customer base consisting of globally renowned and long-standing brands such as Walmart, Telebrands, SEB, Sensio, Hamilton Beach, and Philips. With its capabilities in design, development, and manufacturing of various small household appliances, the company has been particularly successful in the kitchen small appliance sector. The company has been consecutively ranked as one of the "Top Ten Kitchen Small Appliance Export Enterprises" by the China Chamber of Commerce for Import and Export of Machinery and Electronic Products in 2022 and 2023. According to a Frost & Sullivan report, based on the export value in 2023, the company ranks among the top ten enterprises in the Chinese kitchen small appliance industry. Based on the export volume to the US and Canada in 2023, the company's electric kettles hold approximately 21.4% and 32.3% market share in the relevant categories defined by the Chinese Customs General Administration. Based on the export volume to the US in 2023, the company's electric mixers and other electric products hold approximately 6.7% market share in the relevant categories defined by the Chinese Customs General Administration.