"New Shares" LONGCHEER Technology starts accepting subscriptions today, with an entry fee of approximately HKD 3,131.3

In 2024, Longcheer Technology (09611.HK)(603341.SH), a major electronic product OEM, announced its IPO details on the main board of the Shanghai Stock Exchange, planning to globally issue 52.259 million H shares, with approximately 10% allocated for public offering in Hong Kong. The offering price is set at HKD 31 per share, with expected fundraising of up to HKD 1.62 billion. The minimum trading unit is 100 shares, with an entry fee of approximately HKD 3,131.26. Citigroup, Haitong International Capital, and Guotai Junan Securities act as joint sponsors.

The subscription period runs from today (January 14) until next Monday (January 19), with listing expected on next Thursday (January 22). Based on the offering price of HKD 31, the net proceeds from the fundraising are approximately HKD 1.521 billion, of which 40% will be used to expand domestic and overseas production capacity; 20% will support R&D efforts; 10% will be used for marketing and customer expansion; 20% will be allocated for global strategic investments or acquisitions; and the remaining 10% will be for working capital and general purposes.

According to the 2024 consumer electronics ODM shipment volume, Longcheer is the second-largest consumer electronics ODM manufacturer globally, holding a 22.4% market share; in terms of 2024 smartphone ODM shipment volume, Longcheer is the largest smartphone ODM manufacturer in the world, with a 32.6% market share.

The company has built a diversified product portfolio covering smartphones, AI PCs, automotive electronics, tablets, smartwatches/bands, and smart glasses. At the same time, it has formed a broad core customer base, including leading brands such as Xiaomi, Samsung Electronics, Lenovo, Honor, OPPO, and vivo