"The world's leading intelligent product platform" Huaqin Technology debuts on the Hong Kong stock exchange! Futu supports enterprises in "A+H" dual capital platform strategy

On April 23, 2026, Huaqin Technology Co., Ltd. (referred to as "Huaqin Technology", stock code:3296.HK), officially listed on the Main Board of the Hong Kong Stock Exchange, marking the company’s entry into a new phase driven by an "A+H" dual capital platform.

In this global offering, Futu Securities acted as joint bookrunners and joint lead managers, forming a prestigious underwriting syndicate together with CICC, BofA Securities, Goldman Sachs, and CITIC Securities. It fully leveraged the advantages of its technology trading platform to help the company attract diversified investors and build a solid foundation for subsequent market liquidity.

According to the prospectus, this IPO by Huaqin Technology has attracted up to 17 cornerstone investors, including top-tier global investment institutions, Chinese asset management firms, and key partners across the supply chain. Notable entities such as JPMAMAPL, UBS AM Singapore, Shanghai Gaoyi, CICC FT, Perseverance Asset Management, Cloud Map, Taikang Life, 3W Fund, New China Asset Management, Everbright Wealth Management, Ivy, Aurora SF, Kingboard Investments, OmniVision HK, Green Better, Hongxing International, Hong Kong Junzheng, Aivtech, and JinYi Capital have joined. These cornerstone investors collectively subscribed to approximately USD 290 million worth of shares, accounting for nearly 50% of the total global offering.

Huaqin Technology has over 20 years of experience in the intelligent products sector and is one of the most comprehensive ODM platform companies globally. According to Frost & Sullivan data, based on the global consumer electronics ODM shipment volume in 2024, the company ranked first globally with a 22.5% market share; it achieved market shares of 37.9% and 18.7% in tablet and smart wearable ODM shipments respectively, both ranking first globally. Its smartphone ODM shipments held a 25.9% market share, placing second globally. The company ranked first in China and fourth globally in notebook ODM shipments, while its data infrastructure business revenue ranked sixth in China.

Financial data shows that the company's performance has continued to grow rapidly. In 2025, the company achieved total operating revenue of RMB 171.44 billion, representing a year-on-year increase of 56.0%; annual profit reached RMB 4.13 billion, growing by 41%, achieving significant growth even on a base of over RMB 100 billion in revenue.

In terms of industry prospects, global AI large models are extending from the cloud to end devices such as mobile phones, wearable devices, and smart home appliances, bringing new growth to various intelligent products. In addition, the company's new business segments, including data centers, automotive electronics, and robotics, may become important new growth engines for the company.

Regarding the use of proceeds, Huaqin Technology plans to strategically allocate the net proceeds from this IPO as follows:

– 40.0%: Will be used for product-centric R&D investments to enhance the company’s technological capabilities;

– 35.0%: Will be used to expand and optimize our manufacturing network;

– 15.0%: Will be used for strategic investments and vertical integration;

– 10.0%: Will be used for working capital and general corporate purposes.

As a leading digital financial technology company, Futu, supported by an investor ecosystem of over 29.18 million and a comprehensive corporate service system, is able to provide companies with end-to-end services throughout the pre-IPO, IPO, and post-IPO phases. These include a one-stop ESOP option management solution, Hong Kong and US stock IPO distribution, investor relations (IR) and public relations (PR), financial public relations services, international placement, secondary trading services, and other core services.

As of Q4 2025, more than half of the top ten companies in terms of Hong Kong IPO fundraising amounts have collaborated with Futu. Nearly half of the Hong Kong IPO projects in Q4 were in cooperation with Futu. The total subscription amount for Hong Kong IPOs on the Futu platform reached 3.5 trillion Hong Kong dollars in Q4, firmly ranking first in the market. Futu’s capabilities in US IPOs have attracted attention, as all retail clients who subscribed to popular new stocks such as Bullish, Figure, and Gemini were successfully allocated shares.

As of Q4 2025, Futu's corporate services have reached 1,161 clients, providing IPO distribution and IR services to 600 enterprises. It has assisted 387 companies, including Meituan, Kuaishou, Xiaomi, Baidu, KE Holdings, JD Health, and Bilibili, in successfully listing in Hong Kong and the United States. Futu has cumulatively signed contracts with 830 ESOP clients, and a total of 1,300 listed companies are now hosted on the Futu platform.

In the future, Futu will fully leverage its resources and market influence to provide more professional and efficient services to a larger customer base!

*Securities-related businesses such as IPO distribution are provided by licensed subsidiaries under Futu.

*Data source: Market cap as of the first day of listing

*Data source: Futu Q4 2025 earnings

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