In the field of home appliances, OEM production is a commonplace. Under this model, brand producers do not directly produce products, but use their own "key core technologies" to design and develop new products, and hand over the production links with low technical requirements to external suppliers.
For home appliance companies, the OEM model can better reduce costs and improve production efficiency, so that they can invest more energy in product research and development, brand promotion and channel expansion.
The prevalence of the OEM model has achieved a number of foundry manufacturers. These companies rely on the OEM of well-known brands, the scale of the industry has grown rapidly, and they have embarked on the road of IPO, such as Omar Electric Appliances and Xinbao Shares, which started through the OEM business. In the past 2023, home appliance foundry enterprises have once again ushered in a wave of intensive listings.
Delmar GEM listing
On May 18, 2023, Guangdong Delmar Technology Co., Ltd. *** abbreviation: Delmar, **301332, hereinafter referred to as "Delmar") was officially listed on the GEM of Shenzhen ** Exchange and successfully landed in the capital market.
Delmar, located in Beijiao, Shunde, is an innovative home appliance brand enterprise integrating independent research and development, original design, self-production and self-sales. The company's brands include "Delmar", "Philips", etc., and the main product types include home environment, water health, personal care and health, and life and bathroom.
In this IPO, Delmar issued a total of 9231250,000 shares at an issue price of 1481 yuan shares, and the net amount of funds raised is expected to be about 123.1 billion yuan, the raised funds will be used for smart home appliance manufacturing base projects, R&D quality control center construction projects and information construction projects.
On August 28, Delmar released its first semi-annual results report after listing. In the first half of 2023, the company achieved an operating income of 155.5 billion yuan, a year-on-year increase of 26%；net profit attributable to shareholders of listed companies was 6747080,000 yuan, a year-on-year increase of 1079%；deducted non-net profit of 6326210,000 yuan, a year-on-year increase of 1359%。
Xueqi Electric Motherboard IPO passed
On July 14, 2023, the 54th review meeting of the Listing Review Committee of the Shenzhen ** Stock Exchange in 2023 was held, and the results of the review showed that Hefei Xueqi Electric Co., Ltd. *** hereinafter referred to as "Xueqi Electric") was approved for the initial offering and will be listed on the main board of the Shenzhen Stock Exchange.
Founded in 2011, Xueqi Electric is mainly engaged in the R&D, production and sales of refrigerators and commercial display cabinets, providing domestic and foreign brands with large refrigerators and commercial display cabinets with a volume of more than 400L. Since its establishment, the company has focused on ODM production model, independent procurement model and direct sales model, and its partners include Midea, Xiaomi, Meiling, Electrolux, Hisense, Swire and other world-renowned enterprises and home appliance brands.
On January 2, 2024, Hefei Xueqi Electric Co., Ltd. will subscribe for IPO new shares, referred to as "Xueqi Electric", and "001387". The company issued 3,419 new shares to the public in this issuance0000000 shares, 1538 yuan shares, the total amount of funds raised is expected to be 52.6 billion yuan, which will be used for refrigerator product projects with an annual output of 1 million built-in refrigerators, refrigerator parts self-made capacity improvement projects, R&D center construction projects, and replenishment of working capital.
Hongzhi Technology landed on the Beijing Stock Exchange
On August 8, 2023, Guangdong Hongzhi Intelligent Technology Co., Ltd. *** abbreviation: Hongzhi Technology, **870726, hereinafter referred to as "Hongzhi Technology") was listed on the Beijing ** Exchange.
Founded in May 1999, Hongzhi Technology specializes in the research and development, production and sales of small household appliances such as rice cookers, slow cookers, pressure cookers and baking products. As of December 31, 2022, the company has obtained 158 authorized patents, including 2 invention patents, 119 utility model patents and 37 design patents. In addition, the company has become a specialized, special and new small and medium-sized enterprise in Guangdong Province.
It is reported that the issue price of Hongzhi Technology is 1328 yuan shares, the number of issued ** is 1043480,000 shares, with a total amount of 13.9 billion yuan, the funds raised will be used for the construction project of intelligent kitchen appliance manufacturing base, R&D center construction project, supplementary working capital, etc.
Relying on strong production and manufacturing capabilities, these home appliance OEM enterprises have achieved phased results, but for a listed company, the OEM model that relies too much on large customers will bring problems such as weak sustained profitability and lack of voice to the company, resulting in poor anti-risk ability of the enterprise. How to explore their own advantages and core competitiveness in the fierce market competition is the core issue and problem that these listed companies need to face next. After all, going public is not the end, but a new beginning.