Longxing Tianxia Shanghai Stock Exchange's main board IPO submitted registration as a core supplier for world-renowned sports brands

The Zhitong Finance App learned that on November 10, Guangdong Longhang Tianxia Technology Co., Ltd. (abbreviation: Longhang World) applied for the Shanghai Stock Exchange Main Board IPO review status to “submit registration”. China Merchants Securities is its sponsor and plans to raise 1.09 billion yuan.

According to the prospectus, Longxing World is mainly engaged in the development, design, production and sales of sports shoes. It is a professional sports footwear manufacturer with scale advantages, brand influence and market competitiveness.

The company has established long-term and stable partnerships with well-known sports brands such as Under Armour, Li Ning, Decathlon, Adidas, Anta, HOKA, La Sportiva, and Vibram. The main products include sports casual shoes, running shoes, basketball shoes, professional sports shoes, outdoor cross-country boots, etc.

The company won the Li Ning Brand Evaluation Best Supplier Award from 2023 to 2025, won the Under Armour Supplier MVP Award for five consecutive quarters from 2024 to 2025, scored first in the adidas supplier Spike rating system in 2023, won the Adidas Most Competitive Award and Game Changer Award in 2024, and the automated shoe production line project won the “Automated Lighthouse Award” and “Silver Award” at the 2024 and 2025 North Asia ME Summits hosted by Adidas, respectively Yiyi Digital Management System won the “Bronze Award” at the Adidas 2026 China ME Summit and was awarded the “G.O.A.T.” award for adidas footwear suppliers in China from January to June 2026. The company is one of only 5 strategic partners in the Decathlon footwear industry in the world.

By the end of June 2026, the company had set up 26 factories in China, Vietnam, and Indonesia, with 15 factories in China, 26,322 employees worldwide, producing about 50 million pairs of sneakers in 2025 and 25 million pairs of sneakers from January to June 2026. It is a sports shoe manufacturer with comprehensive competitive advantages. The company will continue to invest in production bases at home and abroad in the future to continue to expand its scale advantage and enhance market competitiveness.

The company is deeply involved in large-scale customized production of sporting goods, and implements the core operating model of production based on sales, production scheduling, and lean production. Production plans, capacity arrangements, and operation arrangements are all based on customer order delivery, quality standards, and off-peak brand requirements to achieve efficient use of production capacity and accurate delivery of orders.

Benefiting from a combination of factors such as China's sports policy support, the release of residents' demand for fitness and sports, the rise of Guochao sneaker brands, and the rapid expansion of online retail channels, according to Frost & Sullivan data, the market size of China's sneaker manufacturing industry grew from 33.6 billion yuan in 2021 to 47.8 billion yuan in 2025, with a compound annual growth rate of 9.3%. China's sports footwear manufacturing industry is expected to continue to grow steadily in 2026-2030, and the scale of the industry is expected to exceed 70 billion yuan in 2030.

On the financial side, in 2023, 2024, 2025, and January-June 2026, the company achieved operating income of approximately RMB 4.211 billion, RMB 5.588 billion, RMB 5.834 billion and RMB 3.177 billion, respectively. In the same period, net profit was approximately RMB 212 million, RMB 281 million, RMB 264 million and RMB 174 million, respectively.