IPO News | Longqi Technology (603341.SH) was heard by the Hong Kong Stock Exchange as the world's largest smartphone ODM manufacturer

The Zhitong Finance App learned that according to the Hong Kong Stock Exchange disclosure on December 30, Shanghai Longqi Technology Co., Ltd. (603341.SH)) passed the Hong Kong Stock Exchange's main board listing hearing, and Citibank, Haitong International, and Cathay Junan International were co-sponsors.

According to the prospectus, Longqi Technology is the world's leading provider of smart products and services, providing solutions for world-renowned smart product brands and leading technology companies — including product research, design, manufacturing and support. According to Frost & Sullivan data, in terms of consumer electronics ODM shipments in 2024, the company is the second largest consumer electronics ODM manufacturer in the world, accounting for 22.4% of the market share; in terms of smartphone ODM shipments in 2024, the company is the world's largest smartphone ODM manufacturer, accounting for 32.6% of the market share. The company mainly competes in the global consumer electronics ODM market, which is a segment of the global smart product ODM market, and the global smart product ODM market is an integral part of the global smart product manufacturing industry.

With this proven value chain expertise, the company has built a diverse product portfolio covering smartphones, AIPC, automotive electronics, tablets, smart watches/bracelets, and smart glasses. At the same time, the company has formed a broad core customer base, including leading brands such as Xiaomi, Samsung Electronics, Lenovo, Honor, OPPO, and vivo. These achievements are due to the company's R&D and engineering team of approximately 5,200 professionals with rich experience in multi-platform and multi-operating system product development.

Longqi Technology has built the industry's broadest and most comprehensive smart product ecosystem for the most popular platforms (such as Android and Windows). Focusing on new customer needs, new market opportunities, and technological innovation in the AI era, the company's product portfolio forms a “1+2+X” framework, that is, “1” with smartphones as the core main track, “2” for business development focusing on personal computing and automotive electronics businesses, and “X” in the emerging consumer electronics field represented by tablets, wearables, TWS headsets, and smart glasses. This framework completes the company's comprehensive product portfolio. In 2024, the company's smartphone product revenue reached RMB 36.133 billion, accounting for about 77.9% of total annual revenue; the company's tablet business revenue was RMB 3,696 billion, accounting for about 8% of total annual revenue; the company's AIoT business revenue grew rapidly, reaching RMB 5.573 billion, accounting for about 12% of total annual revenue.

On the financial side, in the nine months ended September 30 in 2022, 2023, 2024, 2024 and 2025, Longqi Technology achieved revenue of approximately RMB 29.343 billion, RMB 27.185 billion, RMB 46.382 billion, RMB 34.921 billion, and RMB 31.333 billion, respectively. In the same period, profit during the year was approximately RMB 562 million, RMB 603 million, and RMB 493 million. , 425 million yuan, 514 million yuan.