By Kate Yuan

(JW Insights) Aug 8 -- China’s leading ODM Huaqin Technology (华勤技术) made its debut on the Shanghai Stock Exchange on August 8, with an issuance price of RMB80.8 ($11.2) per share and a price-earnings ratio of 31.32.

Founded in 2005, Shanghai-based Huaqin Technology focuses on intelligent hardware products. Its clients include well-known domestic and international smart hardware brands and internet companies, such as Samsung, OPPO, Xiaomi, vivo, Amazon, Lenovo, Acer, ASUS, and Sony.

The company's product line covers intelligent smartphones, laptops, tablets, smart wearables (smartwatches, TWS earphones, and smart bands), AIoT products (smart POS machines, automotive electronics, and smart speakers), and servers.

Huaqin’s overall shipments of smartphones, laptops, and tablets exceeded 200 million units in 2021, making the company the top player in the global intelligent hardware ODM industry, according to data from Counterpoint. In 2022, it maintained its position as the global leader in intelligent hardware ODM.

Despite the current market downturn and the decline in the consumer electronics market, Huaqin has managed to maintain a growth trend since 2022. The company posted revenue of RMB92.645 billion ($12.85 billion), growing by 10.61% over the previous year. The net profit reached RMB2.492 billion ($345.61 million), surging 32.91% from a year earlier.

Huaqin places great emphasis on R&D and innovation. The company has five major research and development centers across the country and currently has an R&D team of over 10,000 people. Its R&D investment has exceeded RMB10 billion ($1.3 billion) over the past three years. As of January 31, 2023, the company has nearly 2,500 authorized patents, including over 900 invention patents and over 1,300 computer software copyrights.

It has also established manufacturing centers in China’s Nanchang City, Dongguan City and overseas manufacturing bases through equity investments in India, Indonesia, and Vietnam.