According to Zhitong Finance APP, on July 21, Higold (001221.SZ) opened for subscription, with an issue price of 15.43 yuan per share, a subscription limit of 10,500 shares, and a price-to-earnings ratio of 11.86 times. It is listed on the Shenzhen Stock Exchange, with Guotai Junan as its sponsor.

According to the prospectus, Higold mainly engages in the research, design, production, and sales of home hardware and outdoor furniture products, organically integrating diversified original designs with high-quality products, and is committed to providing customers with aesthetically refined, meticulously crafted, and highly practical home storage hardware, basic hardware, kitchen and bathroom hardware, as well as outdoor furniture products.

The company's product range is extensive, with downstream applications covering various scenarios, including kitchens, bathrooms, bedrooms, dining rooms, and courtyards. The company conducts product sales domestically and internationally through a combination of distribution and direct sales, as well as online and offline channels, which can meet the diverse needs of domestic and foreign customers and lay a solid foundation for the company's sustainable development.

During the reporting period, sales revenue from the top five customers accounted for 10.86%, 9.84%, and 8.35% of the total revenue, respectively. Important customers of the company include Beijing Defengtai Household Products Co., Ltd., Nanjing Chenlai Home Trading Co., Ltd., Suzhou Wufan Home Co., Ltd., and Kaja Horeca Interieur B.V.

Currently, the home hardware market is relatively fragmented, with most companies in the industry primarily engaged in OEM production and operating on a small scale, leading to severe homogenization and low-price competition for survival. With the optimization of industrial structure and the upgrading of market consumption, leading enterprises in the industry are shifting their focus to the mid-to-high-end market, leveraging their advantages in product quality, brand, channels, technology, management, and scale to provide high-quality and diversified products. Currently, the mid-to-high-end market for home hardware is mainly dominated by foreign brands, with well-known overseas companies including Blum, Hettich, and Kesseböhmer. Domestic brand manufacturers are also enhancing their market competitiveness through product innovation, technological upgrades, and brand building, with local representative enterprises including Higold, Dongtai Hardware, Tutte Co., Ltd., Huitailong, and Yajie Hardware.

The company has a nationwide distribution network with deep penetration and is continuously expanding its market coverage through direct sales, e-commerce, cloud commerce, and export channels, constantly enhancing the brand awareness of Higold. As a high-tech enterprise, the company has a complete R&D system and a professional R&D team, and has established a provincial-level industrial design center. It has participated in the formulation of industry standards such as "Household Kitchen Equipment," "Functional Hardware Baskets for Home Use," and "Intelligent Purification Stainless Steel Sinks," and is also one of the compilers of the first set of teaching materials in the cabinet industry. During the reporting period, the company was recognized as a demonstration enterprise for high-quality development in the Chinese home industry, one of the top 100 manufacturing enterprises in Foshan, and a champion enterprise in the manufacturing sector of Foshan High-tech Zone, and received awards such as the CF Design Gold Award, German IF Design Award, German Red Dot Design Award, and the Himalaya Design Summit Award.

In terms of finance, for the fiscal years 2022, 2023, and 2024, the company achieved operating revenues of approximately 1.62 billion yuan, 2.22 billion yuan, and 2.857 billion yuan, respectively; during the same period, net profits were approximately 206 million yuan, 333 million yuan, and 531 million yuan, respectively