Raising 420 million yuan, cabinet lighting company Higgold Group is about to go public

On July 25, Higgold Group issued a prospectus for its initial public offering and listing on the main board. This listing will publicly issue 40.01 million shares and plan to raise 420 million yuan, which will mainly be used to build smart home hardware automation manufacturing bases, R&D centers and informatization projects.

Higold Group stated that with the arrival and investment of the funds raised this time, the company's capital strength will be greatly enhanced, the company's asset and liability structure will be optimized, financing costs will be reduced, and the company's capital needs in production and operation activities will be met. It will make an important contribution to the development of the company's main business and have a positive impact on the company's future business strategy.

The Higold Group is mainly engaged in the research and development, design, production and sales of home hardware and outdoor furniture products, covering functional hardware, basic hardware, kitchen and bathroom hardware, cabinet lighting, interior door locks, smart kitchen appliances, bathroom cabinets and outdoor furniture, etc. Among them, cabinet lighting products cover recessed trough lights, shelf lights, smart sensor lights and other lighting fixtures and supporting intelligent control equipment.

In terms of customers, Higold Group serves five major customers through offline direct sales, including Oppein Home Furnishing, Quanyou Furniture, Qingdao Youwu, Zhibang Home Furnishing, and Gold Medal Kitchen Cabinets. The total sales to the five major customers in 2024 will be 94.2395 million yuan, accounting for 3.36% of the main operating income.

In terms of performance, Higold Group's revenue from 2022 to 2024 was 1.62 billion yuan, 2.222 billion yuan, and 2.857 billion yuan respectively, with an average annual compound growth rate of 32.78%; net profits attributable to the parent company were 206 million yuan, 332 million yuan, and 531 million yuan respectively.

The company expects revenue in the first half of 2025 to be 1.387 billion yuan to 1.502 billion yuan, a year-on-year increase of 17.04% to 26.77%; net profit is expected to be 234 million to 263 million yuan, a year-on-year increase of 18.64% to 33.66%. Among them, revenue in the first quarter was 626 million yuan, a year-on-year increase of 26.75%; net profit was 116 million yuan, a year-on-year increase of 40.31%.

Performance growth mainly comes from basic hardware products, with related income increasing by 55.95% year-on-year, contributing 78.08% of operating income growth; kitchen and bathroom hardware income increased by 22.22% year-on-year, contributing 10.10%. (Compiled by LEDinside)

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