02619 香江電器
XJ ELECTRICS
XJ ELECTRICS
| Listing Date | 2025/06/25 |
| Listing Price | 2.860 |
Quote
Subscription Result
- Subscription Rate852.38x
- Guarantee One Lot Size200 lot
- One Lot Success Rate10%
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IPO Detail
COMPANY PROFILE
X.J. Electrics (Hu Bei) Co. is a manufacturer of lifestyle household goods in the PRC. The Group mainly operates on ODM/OEM basis and have built a customer portfolio comprising globally reputable and long standing names, such as Walmart, Telebrands, SEB Asia Ltd, Sensio, Hamilton Beach and Philips etc.
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The Group focuses on research and development, design, manufacturing and sales of electric home appliances and non-electric household goods. Its electric home appliances consist of three categories, namely electro-thermic appliances, such as electric griddle, air fryer and kettle; motor-driven appliances, such as blender, mixer and electric can opener; and electronic appliances such as digital scale, humidifier and laser projector light. It designs, develops, manufactures and sells home appliances under its own brands Weighmax, Accuteck and Aigoli.
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According to the Report, the Group was the 10th largest company with a market share of 0.8% in terms of export value in 2024 in the small kitchen appliance industry in the PRC. The Group’s electric kettles had a market share of approximately 24.6% and 59.6% in the respective category classified by the General Administration of Customs of the PRC in terms of export volume from the PRC to the U.S. and Canada, respectively, in 2024. The Group’s motor-driven products such as mixers had a market share of approximately 3.8% in the respective category classified by the General Administration of Customs of the PRC in terms of export volume from the PRC to the U.S. in 2024.
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The Group have seven manufacturing bases in the PRC with a total construction area of approximately 367,000 sq.m. The Group’s products are delivered to more than 70 countries and regions covering six continents. A major portion of the Group’s revenue came from its sales of small kitchen appliances. Its customers mainly comprise international brand owners and their procurement service providers.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Household Appliances & Electronics |
| Major Business Area | China |
| Board Lot | 1000 |
GLOBAL OFFERING
| No. of Offer Shares | 68.22M H shares |
| No. of International Offer Shares | 34.11M H shares |
| No. of HK Offer Shares | 34.11M H shares |
| Offer Price | $2.86 - $3.35 |
| Stock Code | 2619 |
| Sponsor(s) | Sinolink Securities (Hong Kong) Company Limited |
| Underwriter(s) | Sinolink Securities (Hong Kong) Company Limited, CCB International Capital Limited, ABCI Securities Company Limited, CMB International Capital Limited, CMBC Securities Company Limited, First Fidelity Capital (International) Limited, UZen Securities Limited, Valuable Capital Limited |
TIME TABLE
| Application Period | Jun 17 (Tue) - noon, Jun 20 (Fri) |
| Price Determination Date | Jun 23 (Mon) |
| Result Announcement Date | On or before Jun 24 (Tue) |
| Result Announcement Date | On or before Jun 24 (Tue) |
| Result Announcement Date | On or before Jun 25 (Wed) |
| Dealings in Shares commence on | Jun 25, 2025. (Wed) |
Reallocation of Shares Offered
| Times of HK Offer Shares Subscription | 15X - 50X | 50X - 100X | Over 100X |
| % of total shares reallocated to HK Offer | 30% | 40% | 50% |
Sales Statistics (HKD)
| Offer Price | $2.86 - $3.35 |
| Capitalization | 780.40M - 914.10M |
| NAV / share ($) | $4.25 - $4.37 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 3.11, the net proceeds raised would be HKD 171.80M, of which |
| 41.9% : Setting up Thailand Factory |
| 15.8% : Acquiring and installing machines and equipment |
| 37.3% : Setting up the New R&D Centre |
| 5% : 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).