02050 三花智能
SANHUA
SANHUA
| Register Close | 2025/06/18 IPO Closing in 4 Days |
| Listing Date | 2025/06/23 |
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IPO Detail
COMPANY PROFILE
Zhejiang Sanhua Intelligent Controls Co have been dedicated to the R&D, promotion and adoption of thermal management technology, providing customers across the globe with energy-efficient solutions through its industry-leading products of high quality. With a global perspective, the Group have established a business that spans two major sectors: refrigeration and air-conditioning product components and automotive components. It actively broadening its business boundaries into emerging fields, such as bionic robot electromechanical actuators.
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According to the report, in terms of revenue in 2024, the Group is the world’s largest manufacturer of refrigeration and air-conditioning control components and a global leader in automotive thermal management system components. Its market share in the global refrigeration and air-conditioning control component market was approximately 45.5%. In the global automotive thermal management system component market, it held a market share of approximately 4.1%, ranking fifth globally.
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As of December 31, 2024, the Group’s products had reached America, Europe, Asia, Oceania and Africa, spanning over 80 countries and regions and had a total of 48 factories worldwide, including 13 overseas factories in the United States, Poland, Mexico, Turkey, Austria, Vietnam, Thailand and India. The Group’s customers primarily consist of automotive companies and refrigeration and air-conditioning companies. The Group established business relationships with all the world’s top ten largest refrigeration and air-conditioning manufacturers and automotive manufacturers.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Industrials |
| Major Business Area | Global |
| Board Lot | 100 |
GLOBAL OFFERING
| No. of Offer Shares | 360.33M H shares |
| No. of International Offer Shares | 335.11M H shares |
| No. of HK Offer Shares | 25.22M H shares |
| Offer Price | $21.21 - $22.53 |
| Stock Code | 2050 |
| Sponsor(s) | China International Capital Corporation Hong Kong Securities Limited, Huatai Financial Holdings (Hong Kong) Limited |
| Underwriter(s) | China International Capital Corporation Hong Kong Securities Limited, Huatai Financial Holdings (Hong Kong) Limited, ABCI Securities Company Limited, BOCI Asia Limited, Caitong International Securities Co., Limited, GF Securities (Hong Kong) Brokerage Limited, Zheshang International Financial Holdings Co., Limited |
TIME TABLE
| Application Period | Jun 13 (Fri) - noon, Jun 18 (Wed) |
| Price Determination Date | Jun 19 (Thu) |
| Result Announcement Date | On or before Jun 20 (Fri) |
| Result Announcement Date | On or before Jun 20 (Fri) |
| Result Announcement Date | On or before Jun 23 (Mon) |
| Dealings in Shares commence on | Jun 23, 2025. (Mon) |
Reallocation of Shares Offered
| Times of HK Offer Shares Subscription | 14X - 46X | 46X - 93X | Over 93X |
| % of total shares reallocated to HK Offer | 10% | 13.5% | 26.5% |
Sales Statistics (HKD)
| Offer Price | $21.21 - $22.53 |
| Capitalization | 86.75B - 92.15B |
| NAV / share ($) | $6.97 - $7.09 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 21.87, the net proceeds raised would be HKD 7.74B, of which |
| 30% : Continuous global R&D and innovation of product mix |
| 30% : Expanding and establishing production facilities and increasing the production automation level in China |
| 25% : Expand overseas production capabilities |
| 5% : Enhance digital intelligence infrastructure, improving digitalization capabilities across various business processes such as supply chain management |
| 10% : Working capital |
Related Document
| Prospectus |  Chinese Version | English Version |
| Remark： | The above information is referenced from the prospectus. |
| All data is calculated from the non- exercise rights(if applicable). |
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*Admission fees include brokerage of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.005% and FRC transaction levy of 0.00015% (i.e. 1.0077% in total).