Dongguan Aohai Technology started its listing on the SME Board of the Shenzhen Stock Exchange on August 17.
The net proceeds of the IPO raised 1.12 billion yuan, which will be invested in the production project of smart terminal accessories (Tangxia), the construction project of wireless chargers and smart fast charging production lines, the construction of R&D centers, and used to supplement working capital.
Since its establishment, Aohai Technology has always positioned chargers as its core product. The company's global market share (number) of mobile phone chargers has now exceeded 10%.
Its clients include well-known mobile phone brands such as Huawei, vivo, Xiaomi, OPPO, and large digital product providers such as Bestbuy.
The company currently has four production bases in Guangdong, Jiangxi, India and Indonesia. With an annual capacity of more than 180 million chargers, it has become a leading enterprise in the smart terminal charging and storage product industry.
The prospectus shows that Aohai Technology has grown rapidly in the past three years. In 2017, 2018 and 2019, the company achieved operating income of 1.153 billion yuan, 1.661 billion yuan and 2.316 billion yuan, respectively, and realized net profit attributed to parent company of 51.27 million yuan, 114 million yuan and 222 million yuan.
In terms of product development, it continues to maintain the industry's leading level. It has developed a new generation of smart fast mobile phone chargers with a power of 40W and put it into mass production.
In terms of market development, it has added global first-line mobile phone brand customers such as vivo and LG. At the same time, it vigorously develops the field of Internet of Things devices, cooperates with Amazon on multiple products including smart speakers, TV sticks, and tablets, and actively expands its business with Internet of Things device companies such as Google, Tencent, Baidu, and 360.
Based on the continuous development of customers in developed countries in Europe and the United States, the company said it will focus on developing the Southeast Asian market with a large population and a low smartphone penetration rate. Its Indian factory was established in 2017 and put into production that year, and the Indonesian factory was established in 2018 and started production in early 2019.
Aohai Technology has obtained 235 patents, including 23 invention patents, 154 utility model patents and 58 design patents.
While meeting customer needs, the company also pays attention to the development trend of new technologies in the industry, and invests manpower and material resources in the research and development of new technology frontier products, such as high-power wireless charging technology, high-voltage direct charging technology, and the application of GaN semiconductor material power supplies.