IPO News | Audioway (920491.BJ) once again listed the Hong Kong Stock Exchange as the world's third-largest supplier of automotive ultrasonic sensors and actuators

The Zhitong Finance App learned that, according to the Hong Kong Stock Exchange's disclosure on June 11, Guangdong Audiowell Sensor Technology Co., Ltd. (abbreviation: Audiwei, 920491.BJ) once again submitted a statement to the Hong Kong Stock Exchange main board, with China Merchants Securities International as its sole sponsor.

Company profile

According to the prospectus, the company manufactures and sells sensors, actuators and related intelligent modules. It has more than 20 years of operating experience and comprehensive capabilities integrating R&D, production and sales.

The company is committed to providing sensing and execution solutions for many downstream applications, mainly including: (i) smart home solutions; (ii) smart car solutions; (iii) smart terminal solutions; and (iv) smart manufacturing solutions. Each solution is customized to meet the functional requirements and application scenarios of specific downstream industries, covering multiple dimensions such as home environment, vehicle space, industrial control and human-computer interaction.

In an age where intelligence and human-computer interaction experience is the core driving force, accurate perception, rapid response, and high integration have become the key directions of intelligent product innovation. The company believes that intelligent sensing and execution technology are the foundation for achieving the Internet of Everything and intelligent control. Whether it's driving smart homes to achieve adaptive environmental control or empowering cars and mobile devices to achieve real-time sensing and safety feedback, the company's solutions have always been committed to building an efficient and collaborative bridge between intelligent perception and execution.

The company operates under the IDM (Integrated Component Manufacturer) model, integrating all key sensor and actuator production processes at the facility — covering sensitive materials, transducer chips, algorithms and precision manufacturing, to provide customized solutions for sensor and actuator hardware for multiple intelligent application scenarios.

The international layout is one of the company's core corporate strategies, and since its inception, the company has remained steadfast in maintaining a high level of overseas sales. The company's customer network covers more than 46 countries and regions, including Asia, Europe, North America and others.

The following table highlights the company's business:

Financial data

Earnings

In 2023, 2024, and 2025, the company's revenue was approximately 467 million yuan, 617 million yuan, and 683 million yuan, respectively.

profit

In 2023, 2024, and 2025, the company's profit during the year was 76.978 million yuan, 93.951 million yuan, and 94.029 million yuan, respectively.

Industry Overview

The global and Chinese sensor markets continued to grow, expanding from approximately US$203.8 billion and RMB 317.9 billion in 2021 to US$255.4 billion and RMB437.3 billion in 2025, with CAGR of approximately 5.8% and 8.3% respectively. In the same period, the global and Chinese actuator markets also increased from US$280 billion and RMB421.2 billion to US$338.9 billion and RMB533.7 billion respectively, with CAGR of approximately 4.9% and 6.1% respectively.

Looking ahead, the growing demand for intelligent sensing and precise motion control is driving the trend towards higher performance, more miniaturized, and software-enhanced sensors and actuators. The global and Chinese sensor and actuator markets are expected to maintain steady growth, with compound annual growth rates of about 4.5% and 5.6% respectively from 2025 to 2030, and are expected to reach approximately US$742.2 billion and RMB 1,277.7 billion respectively by 2030.

In 2025, the global market size of sensors for smart home products and actuators for smart home products was about US$25.9 billion and US$49.2 billion respectively. The size of the Chinese market is also remarkable. The corresponding market size for the same year was approximately RMB 53.8 billion and RMB 96.8 billion, respectively. As smart functions continue to be integrated into residential environments, as well as IoT connectivity, energy efficiency, and user-centered automation technology development, the global market size of sensors and actuators for smart home products in 2030 is expected to reach approximately US$98.1 billion and RMB 218.3 billion, and the CAGR is estimated to be about 5.5% and 7.7%, respectively, between 2025 and 2030.

In 2025, the global automotive-specific sensors and automotive-specific actuators market reached approximately US$49.7 billion and US$42.9 billion respectively, reflecting compound annual growth rates of about 6.5% and 4.3% between 2021 and 2025. In the same year, China's automotive-specific sensors and automotive-specific actuators reached approximately RMB 1007 billion and RMB 92.6 billion respectively. The corresponding compound annual growth rates between 2021 and 2025 were approximately 12.0% and 6.6%, respectively.

The global and Chinese automotive markets have undergone major changes. Currently, growth is mainly driven by the NEV segment. From 2021 to 2025, global NEV sales expanded at a compound annual growth rate of about 36.0%, and the Chinese market led the market with a compound annual growth rate of about 47.1%, fully demonstrating the position of this segment as the core engine of industry expansion. According to this forecast, the global market size of sensors and actuators for the automotive industry will reach approximately US$115.8 billion and RMB 263.4 billion respectively by 2030.

Board Information

The company's board of directors consists of eight directors, four of whom are executive directors, one is a non-executive director, and three are independent non-executive directors.

Shareholding structure

As of the last practical date (June 5, 2026), Mr. Zhang, the company's executive director, chairman and general manager, and his spouse, Ms. Huang, the executive director, directly held 21,718,940 shares and 2,536,770 A shares respectively, accounting for approximately 15.39% and 1.80% of the company's issued share capital, respectively. Therefore, Mr. Zhang and Ms. Huang are the single largest shareholder group of the company. Mr. Zhang and Ms. Huang have a total interest in 24,255,710 A-shares, accounting for 17.19% of the company's issued share capital.

Intermediary team

Sole sponsor: China Merchants Securities (Hong Kong) Limited;

Legal Advisors: JunHe Law Firm, Liao Guohui Law Firm, JunHe Law Firm, JunhelawOfficesLLC, David and Guo Law Firm;

Sole sponsor legal counsel: King & Wood Mallesons;

Auditor and reporting accountant: Hong Kong Lixin Dehao Certified Public Accountants Limited;

Industry consultant: Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch;

Internal Control Advisor: Xinyong Strategy Risk Management Co., Ltd.;

Transfer pricing consultant: Xinyong Zhonghe (Beijing) Tax Agent Co., Ltd.