IPO News | Weichai Leiwo presented the Hong Kong Stock Exchange as the overall solution service provider for smart agriculture
The Zhitong Finance App learned that according to the Hong Kong Stock Exchange's disclosure on June 20, Weichai Leiwo Smart Agriculture Technology Co., Ltd. (Weichai Leiwo) submitted a listing application to the main board of the Hong Kong Stock Exchange, and CICC is its sole sponsor.
According to the prospectus, Weichai Leiwo is a leading smart agriculture overall solution service provider in China. By integrating a complete set of advanced intelligent agricultural machinery equipment and smart agricultural services, the company has created an overall smart agriculture solution covering the full cycle of agricultural production, which can cover all aspects of modern agricultural production such as tillage, planting, field management, harvesting, straw handling and drying of grain.
The company's business is based on two core pillars: the first is a complete set of intelligent agricultural machinery and equipment, covering all aspects of modern agricultural production from tillage, planting, field management, harvesting, straw handling and grain drying, focusing on high-end and intelligent agricultural machinery equipment to help solve the “who will plant the land” problem;
The second is smart agriculture services, with real-time data on agricultural machinery operations as the core, integrating IoT, artificial intelligence and big data technology to comprehensively sense soil, crop and environmental conditions, use AI models to intelligently analyze data to generate accurate operation decisions, and guide intelligent agricultural machinery to carry out collaborative and accurate operations, improve production efficiency and quality, and help truly achieve “scientific land cultivation”.
The company's product portfolio covers high-quality intelligent agricultural machinery, mainly including tractors; harvesting machinery; agricultural machinery. Among them, tractors and harvesting machinery are the main revenue contributors, accounting for more than 90%. As of December 31, 2024, the company has six production bases and nine production lines for agricultural machinery and related parts.
In terms of controlling shareholders, as of June 15, 2025, Weichai Power (000338.SZ,02338) and Weichai Holdings directly held approximately 61.10% and 27.26% of the shares, respectively. Weichai Power is owned by Weichai Holdings about 16.32% of the shares, while Weichai Holdings is wholly owned by Shandong Heavy Industries. As a result, Weichai Power, Weichai Holdings, and Shandong Heavy Industries have a joint right to control about 88.36% of the company's voting rights.
In terms of performance, in 2022, 2023, and 2024, Weichai Leiwo achieved revenue of approximately 15.95 billion yuan, 14.676 billion yuan, and 17.393 billion yuan respectively; in the same period, annual profits were approximately 772 million yuan, 881 million yuan, and 957 million yuan, respectively.
