A-share IPO subscription | Qian'an Technology (920065.BJ) opens subscription, independently establishes own brands such as Ohuhu, Tribit, Sportneer.

On July 20th, Qianan Technology (920065.BJ) started its subscription, with an issue price of 24.30 yuan per share, a subscription limit of 787,500 shares, a P/E ratio of 10.28 times, and belonging to the North Exchange. Industrial is its sponsor institution. According to the prospectus, the company is a high-tech enterprise engaged in the research, design, and sales of self-owned brand products mainly through e-commerce platforms and self-operated websites. On one hand, the company focuses on product R&D design innovation as its core DRIVE, leveraging R&D technology accumulation to create core advantage categories and market-renowned brands. On the other hand, the company takes information system technology innovation as the core cornerstone for the efficient operation of the company's business. Through the self-developed and designed cross-border e-commerce full business chain digitalized and intelligent operation management system, the company has created platform fast response ability and refined service level, efficiently selling differentiated products of self-owned brands to global consumers, mainly including art creation, digital electronics, sports outdoor, home garden categories, providing interesting life experiences for global consumers. During the reporting period, the company's product categories include art creation, digital electronics, sports outdoor, and home garden four major areas, all closely around consumer home leisure life scenes, with "improving consumer quality of life, enriching consumer interesting life experiences" as the core. By clearly positioning consumer scenes and consumer groups, and through long-term product innovation accumulation, the company has independently established its own high-market reputation brands such as Ohuhu, Tribit, Sportneer, and iClever, each brand having a clear market positioning and distinctive brand characteristics. The products of each brand are as follows: Ohuhu brand was founded in 2014, with a youthful and lively brand style, focusing on the painting product line, advocating users to imagine boldly and dare to create. The marker pens have been highly praised by overseas painting enthusiasts, and their quality is recognized by a wide range of users. In addition, Ohuhu's product line also includes home products, musical instruments, beauty care, and home repair tools. The products of this brand are full of vitality and vigor, committed to infusing a positive attitude towards life into every aspect of life. Tribit brand was founded in 2017, with the initial intention of inspiring users to explore the outdoors, embracing the beauty of nature and the charm of music. This brand focuses on the Bluetooth audio field, with products exhibiting unique audio processing charm. Its product line mainly includes Bluetooth speakers, headphones, and so on. Sportneer brand was founded in 2016, focusing on the field of sports and fitness, dedicated to providing users with practical and comfortable personal sports and fitness equipment, enabling users to improve themselves anytime, anywhere, without time and space constraints, creating a pleasant and convenient fitness experience for users. Its high-quality product line mainly includes cycling training, personal fitness, sports recovery, camping and hiking equipment, while also actively innovating in the field of smart sports. Currently, its products are selling well in Europe and America, with its bike trainers and adjustable weighted sandbags frequently ranking at the top of Amazon's similar products best-seller list. iClever brand was founded in 2010, always committed to providing innovative high-quality consumer electronic products, breaking the boundaries of intelligent living with the power of technology. It is now one of the most popular consumer electronic brands in North America, Europe, and other regions, with high popularity and reputation. iClever's existing three major product categories include computer office, entertainment audio and video, and smart charging, with the children's headphones product line focusing on creating safe, comfortable, colorful and fun children's headphones, insisting on allowing children to listen to a variety of learning and entertainment content with peace of mind, with many products being rated as Amazon's best-selling products. Currently, the concentration of platform-type e-commerce companies in the export cross-border e-commerce industry is relatively high, showing an oligopoly phenomenon, with platforms such as Amazon, AliExpress, eBay, Shein, and Wish occupying a high market share, and the pattern being relatively stable; the competitive landscape of self-operated e-commerce companies has not yet formed, with a lower market concentration, and the industry presenting a fully competitive market landscape. Under the trend of globalization and consumption upgrading, smaller scale cross-border e-commerce companies in China will face elimination and exit, market share will further aggregate at the top enterprises, and the market concentration of the cross-border e-commerce industry in China will continue to increase. Apart from the company, other well-known cross-border e-commerce companies in the industry mainly include Sailvan Times, SFC Holdings, Ziel Home Furnishing Technology, Anker Innovations Technology, Huakai Yibai Technology, AUGROUP, etc. In terms of performance, in 2023, 2024, and 2025, the company achieved operating income of approximately 1.4 billion yuan, 1.667 billion yuan, and 1.981 billion yuan respectively; while the net profit for the same period was approximately 96.426 million yuan, 144 million yuan, and 220 million yuan respectively.