New Stock News | Zhejiang Sanhua Intelligent Controls (002050.SZ) Hong Kong IPO Approved by China Securities Regulatory Commission

On May 12th, the China Securities Regulatory Commission issued a notice regarding the overseas issuance and listing filing of Zhejiang Sanhua Intelligent Controls Co., Ltd. (002050.SZ). Zhejiang Sanhua Intelligent Controls plans to issue no more than 476,916,300 shares of overseas-listed common stock and list on the Hong Kong Stock Exchange. According to the prospectus, Zhejiang Sanhua Intelligent Controls is the world's largest manufacturer of refrigeration and air conditioning control components and a global leader in automotive thermal management system components. The company is committed to global operations, with businesses spanning the refrigeration and air conditioning appliance parts and automotive parts sectors, and continuously expanding its business into emerging areas such as biomechanical Siasun Robot & Automation actuators. According to Frost & Sullivan data, in 2023, Zhejiang Sanhua Intelligent Controls ranked first in the refrigeration and air conditioning control components market by sales volume. The company's market share for four-way reversing valves, electronic expansion valves, microchannel heat exchangers, stop valves, and solenoid valves are 58.7%, 58.1%, 42.9%, 37.0%, and 52.6% respectively, while the market share for the Omega pump by shipment volume is 52.3%, all ranking first. According to Frost & Sullivan data, in terms of sales volume in 2023, Zhejiang Sanhua Intelligent Controls ranked first in automotive electronic expansion valves and integrated components, with market shares of 52.6% and 65.7% respectively.