Huaqin Co., Ltd. (03296) conducted a public offering from April 15th to April 20th, intending to globally sell 58.5482 million H shares. Cornerstone investors subscribed for approximately 290 million US dollars.

Huaqin Co., Ltd. (03296) conducted its IPO from April 15 to April 20, 2026, with the company planning to globally issue 58.5482 million H shares. Of these, 10% will be allocated for sale in Hong Kong, 90% for international sale, and an additional 15% for over-allotment options. The offer price will not exceed HK$77.70 per share, with 100 H shares per lot. It is expected that trading of the H shares will commence on the Hong Kong Stock Exchange on April 23, 2026, at 9:00 a.m. The company is a platform-type smart product company that has been deeply involved in the field of intelligent products for over 20 years. Their intelligent products integrate core technologies such as artificial intelligence, the Internet of Things, big data, and communication technology, and combine multiple intelligent functions. Drawing from their development experience, the company drives the development and application of products and technologies in the mobile communication, internet, cloud computing, and artificial intelligence era, providing intelligent products in various areas such as mobile terminals, computing and data center businesses, AIoT, and innovative businesses to global technology companies. The company has established a solid leading position in key product areas and is recognized as the leading ODM platform for intelligent products globally in multiple categories. After years of development, the company has achieved stable and high-quality performance. In the fiscal year 2024, the company achieved operating income of RMB 109.9 billion, surpassing RMB 100 billion for the first time, with a year-on-year growth of over 28%. In 2025, the company's revenue grew by 56.0% year-on-year, maintaining a high growth rate on a large revenue base. As of the fiscal years ending December 31, 2023, 2024, and 2025, the company's profitability continued to improve, with profits of RMB 2.657 billion, RMB 2.916 billion, and RMB 4.132 billion respectively. The company has entered into cornerstone investment agreements with key investors including JPMAMAPL, UBS AM Singapore, Shanghai Gaoyi, CICC FT (in relation to Gaoyi's off-exchange swaps), Perseverance Asset Management, Cloud Map, Taikang Life, 3W Fund, New China Asset Management, Everbright Financial, Ivy League, Aurora SF (in terms of arrangements), Jiantao Investments, OmniVision HK, Green Better, Hongxing International, Hong Kong Junzheng, Aiwei Technology Co., Ltd., and JinYi Capital (acting on behalf of Structured Credit SP Fund). The cornerstone investors have agreed to subscribe for shares worth approximately USD 289.99 million at the offer price. The company believes that the cornerstone investments, made by investors with investment experience and market standing, will enhance the company's image and demonstrate their confidence in the company's business and prospects. The company has introduced various cornerstone investors through its business network in daily operations or through existing shareholders of the company or coordinators participating in the global offering. Assuming the overallotment options and over-allotment rights are not exercised and the offer price is HK$77.70 per share, the company estimates that it will receive net proceeds of approximately HK$4.463 billion from the global offering. Approximately 40.0% of this will be used for core product research and development, enhancing technological strength; approximately 35.0% for expanding and optimizing the company's manufacturing system; approximately 15.0% for strategic investments and vertical integration; and approximately 10.0% for working capital and general corporate purposes.