IPO News | Maternal and child electronics manufacturer Juzhi Technology submitted a second report on the Hong Kong Stock Exchange's revenue of 460 million yuan last year

The Zhitong Finance App learned that according to the Hong Kong Stock Exchange's disclosure on July 23, Juzhi Technology Development Co., Ltd. (hereinafter: Juzhi Technology) submitted a listing application to the main board of the Hong Kong Stock Exchange, and Xinhua Huifu is its sole sponsor. Previously, the company submitted a statement to the Hong Kong Stock Exchange on January 17, 2025.

According to the prospectus, Juzhi Technology is a manufacturer of electronic products for mothers and babies. It mainly deals in baby monitors to improve the quality of daily life for parents and babies. Over the years, the company has nurtured and developed the “HelloBaby” brand in the field of maternal and child electronic products. The company began selling baby monitors through Amazon in 2016. Since then, it has established bases in major global markets, focusing on North America and Europe.

To achieve stable and safe signal transmission, Juzhi Technology independently developed 2.4GHz wireless digital audio and video baby monitor software, which allows parents to view and hear the baby's condition in real time from a distance, while also supporting two-way calls and environmental parameter monitoring. During its track record, the company developed numerous best-selling products. For the year ended December 31, 2024, the company sold close to 1.4 million units of baby monitors and other products, a record high.

Juzhi Technology's sales channels cover online and offline markets. During the track record period, the company sold products online through Amazon, Walmart and its own websites; and sold products offline to ODM customers and distributors. With a global customer base and sales channels spread across North America and Europe in different countries and regions, over the record period, the company generated more than 88.2% of its revenue from selling products to overseas countries.

Juzhi Technology's internal production facilities and warehouses are located in Wuxue City, Huanggang City, Hubei Province, China. The total construction area is about 22,522.2 square meters. The usage rates for the year ended 2022, 2023, and December 31, 2024, and the four months ended April 30, 2025 were about 70.4%, 82.5%, 84.9%, and 70.6%, respectively.

According to the Frost & Sullivan report, exports of Chinese baby monitors to the US market are highly concentrated, with the five major exporters accounting for about 90.8% of the total export volume (through online and offline sales) in 2024. The online export sales segment is more concentrated, and the market share of the top five exporters reached about 96.2% in 2024. Based on the number of baby monitors exported from China to the US in 2024, the company is the largest exporter operating online sales, accounting for 38.7% of the market share. Based on the number of baby monitors exported to the US, the company ranked third among other exporters. The top five market shares in 2024 were about 37.7%, 18.7%, 17.4% (our company), 14.7%, and 2.3% in that order.

On the financial side, in 2022, 2023, 2024, and 2025 for the four months ending April 30, Juzhi Technology recorded revenue of approximately 190 million yuan, 348 million yuan, 462 million yuan, and 150 million yuan respectively. The profit for the period was approximately 34.822 million yuan, 63.66 million yuan, 94.613 million yuan, and 28.314 million yuan, respectively.

According to the risk factors section of Juzhi Technology's prospectus, the company's business and prospects depend on the reputation and market perception of the “HelloBaby” brand, and any negative reports about the company's brand and products may have a significant adverse impact on its brand image and business performance.