New stock news | "Global top three, China's first" Pool cleaning Siasun Robot & Automation leading round technology secondary listing in Hong Kong Exchanges.

According to the disclosure of the Hong Kong Stock Exchange on April 24, 2026, Tianjin Wangyuan Intelligent Technology Co., Ltd. (Wangyuan Technology) submitted an application for listing to the Hong Kong Stock Exchange, with China Securities Co., Ltd. International as the exclusive sponsor. Wangyuan Technology had submitted the application on September 28, 2025. Company Overview Wangyuan Technology is a growing global enterprise focused on the research and development, design, production, and marketing of pool cleaning Siasun Robot & Automation. According to a Zok Insight report, based on the shipment volume of self-made products and GMV in 2024, the company is ranked among the top three globally and number one in China as a supplier of pool cleaning Siasun Robot & Automation, with a comprehensive product portfolio equipped with advanced pool cleaning technology. The company is also recognized as the pioneer and the largest supplier of cordless pool cleaning Siasun Robot & Automation based on the shipment volume of self-made products in 2024. Looking back at the twenty years of development history, Wangyuan Technology has played an active role in driving the development of the pool cleaning Siasun Robot & Automation industry in China, covering a wide range of market demands in residential, commercial, and public facilities. By introducing lightweight products in 2009, cordless products in 2014, and AI-driven products in 2023, the company has contributed to the advancement of pool cleaning Siasun Robot & Automation. Wangyuan Technology has a comprehensive product portfolio of pool cleaning Siasun Robot & Automation, with 48 main models as of April 15, 2026. With the company's innovative AI-driven technology, Wangyuan Technology has introduced intelligent Siasun Robot & Automation products with features such as precise underwater acoustic positioning, underwater artificial intelligence vision, underwater 3D modeling, autonomous navigation function, and automatic garbage recovery technology, enabling efficient and precise execution of complex pool cleaning tasks with minimal human intervention. As of April 15, 2026, the company's pool cleaning Siasun Robot & Automation products have been shipped to 60 countries and regions around the world. Financial Information Revenue: In the fiscal years 2023, 2024, and 2025, the company achieved revenues of approximately RMB 378 million, RMB 544 million, and RMB 812 million, respectively. Profit: In the fiscal years 2023, 2024, and 2025, the company reported net profits of RMB 60.849 million, RMB 70.51 million, and RMB 100 million, respectively. Gross Profit Margin: The gross profit margin for the fiscal years 2023, 2024, and 2025 was 57.5%, 58.0%, and 62.9%, respectively. Industry Overview Global Pool Cleaning Market Overview Pools are a core component of the growing outdoor living space, becoming increasingly interconnected and intelligent with the proliferation of smart home devices and AI technology. AI technology is expected to lead the next generation of top-notch courtyard experiences, including accessibility, intelligent pool cleaning, and maintenance. Pool cleaning is a labor-intensive job for pool owners and operators. As pool cleaning Siasun Robot & Automation can significantly enhance the convenience of pool maintenance, promote water conservation, and reduce the use of harsh chemicals, the demand for pool cleaning Siasun Robot & Automation as a substitute for manual cleaning is increasingly seen as a necessary and routine requirement for the continuous operation of pools. In 2025, the total number of pools globally (including private and public pools) was approximately 34.1 million, expected to increase to 41.1 million by 2030, with a compound annual growth rate (CAGR) of 3.8% from 2025 to 2030. The growth is driven primarily by the accelerated urbanization worldwide and the increase in the number of residential buildings, hotels, schools, and other commercial establishments. The United States and Europe are the two largest pool markets, accounting for approximately 33.6% and 28.8% of the total pool count in 2025, respectively. Pools can be classified into private pools and public pools. Private pools refer to residential pools owned by individuals, while public pools are used for commercial purposes or located in public facilities. In 2025, there were approximately 33.3 million private pools and 900,000 public pools globally. Global Pool Cleaning Siasun Robot & Automation Market Overview Global spending on pool cleaning (including pool cleaning Siasun Robot & Automation, pool vacuum cleaners, chemical cleaning products, and manual cleaning products and services) increased from $9.6 billion in 2020 to $13.8 billion in 2025, with a CAGR of 7.5% from 2020 to 2025. The expenditure is expected to further rise to $17.1 billion by 2030, with a CAGR of 4.5% from 2025 to 2030, driven primarily by the increase in pool ownership, improvements in water quality and safety standards, economic development, technological advancements, among other factors. The shipment volume of global pool cleaning Siasun Robot & Automation increased from 2.9 million units in 2020 to 4.9 million units in 2025, with a CAGR of 11.3% from 2020 to 2025. The volume is forecasted to further increase to 7 million units by 2030, with a CAGR of 7.6% from 2025 to 2030. The U.S. and European markets lead globally, accounting for approximately 45.2% and 34.3% of the total shipments in 2025, respectively. The Chinese pool cleaning Siasun Robot & Automation market has shown significant growth in the past five years, with a rapid expansion of its shipment volume at a CAGR of 19.8% from 2020 to 2025, and expected to continue expanding at a CAGR of 21.8% from 2025 to 2030. The growth rate of the global pool cleaning Siasun Robot & Automation market has surpassed the overall pool cleaning industry, primarily due to the continuous improvement in product reliability and technological capabilities. This trend has increased the market penetration of pool cleaning Siasun Robot & Automation and driven up product prices, especially in the mid-to-low-end product segments. The average price of pool cleaning Siasun Robot & Automation increased from $489.0 in 2020 to $573.8 in 2025. In terms of GMV, the global pool cleaning Siasun Robot & Automation market size grew from $1.394 billion in 2020 to $2.8 billion in 2025, with a CAGR of 15.0% from 2020 to 2025. It is projected to further expand to $4.568 billion by 2030, with a CAGR of 10.3% from 2025 to 2030. As awareness of product reliability and cleaning performance continues to rise, the market penetration of pool cleaning Siasun Robot & Automation, measured by the number of pools served, has significantly increased over the past five years, from 19.4% in 2020 to 27.8% in 2025. This growth is mainly at the expense of traditional cleaning solutions (such as pressure and suction devices), which are typically less efficient, more labor-intensive, and noisier compared to pool cleaning Siasun Robot & Automation. The penetration rate of pool cleaning Siasun Robot & Automation in China is significantly lower than in developed countries. In 2025, the penetration rate of pool cleaning Siasun Robot & Automation in China was approximately 8.7%, while in the United States, Europe, and Australia, it was about 36.9%, 32.9%, and 32.0%, respectively. In China, the cost of pool cleaning Siasun Robot & Automation remains higher than manual cleaning, limiting its economic attractiveness. With the continuous development of the Chinese economy and the increasing public health awareness, the penetration rate of pool cleaning Siasun Robot & Automation in China is expected to steadily increase. Board of Directors Information The Board of Directors will consist of nine directors, including four executive directors, two non-executive directors, and three independent non-executive directors. The Board of Directors is responsible for and has the general authority to manage and operate the company. Equity Structure During the historical period and up to April 15, 2026, the company was controlled by major shareholders, namely (i) Ms. Fu holding 10.88%, (ii) Mr. Yu holding 0.93%, (iii) Tianjin Zhuhui owned 21.55% by Ms. Fu and Mr. Yu holding 57.50% and 42.50% equity respectively, (iv) Tianjin Wangyuan owned 32.75% by Ms. Fu and Mr. Yu holding 60.00% and 40.00% equity respectively, and (v) Tianjin Kanfang (Limited Partnership) and Tianjin Wangyuan (Limited Partnership) held 1.24% and 4.23% respectively, with Ms. Fu as their sole general partners, having the right to exercise the voting rights of their respective holdings. Intermediary Team Exclusive Sponsor: China Securities Co., Ltd. (International) Financing Limited Company's Legal Advisor: Baker McKenzie for Hong Kong and U.S. laws, Jin Tiancheng Law Firm for Chinese law, and Trade Law Firm for international sanctions law Legal Advisor for the Exclusive Sponsor: Proskauer Rose for Hong Kong and U.S. laws, Jun Tian Gong Cheng Law Firm for Chinese law Auditors and Reporting Accountants: KPMG Industry Consultant: Zok Insight Management Consulting (Shanghai) Co., Ltd. Compliance Advisor: Kai Sheng Capital Ltd.