Smart lighting company Qingdao Yeelight Intelligence begins IPO counseling

On August 3, the Qingdao Regulatory Bureau of the China Securities Regulatory Commission (CSRC) publicized the filing and registration information for the tutoring of Yeelight Smart Technology Co., Ltd. (hereinafter referred to as "Yeelight Smart"), with CITIC Securities serving as the tutoring institution.

Yeelight's parent company, Yeelink, is now poised to enter the capital market.

Yeelight Smart (formerly named "Qingdao Yilianke Information Technology Co., Ltd.") was established in 2012, with its registered address in Laoshan District, Qingdao City, and Jiang Zhaoning as the legal representative.

Since its establishment, the company has been mainly engaged in the design, R&D, system integration, and sales of products related to smart lighting. It possesses a complete smart lighting product line, including home lighting, table lighting, ambient lighting, and intelligent control systems, with comprehensive R&D capabilities spanning optics, hardware design, embedded systems, communication systems, smartphone apps, and cloud platforms.

According to public information from Qichacha, in terms of shareholding structure, the company's founder Jiang Zhaoning holds a 17.6% stake, making him the largest shareholder; followed by Shunwei Capital.

Under Yeelight Smart, the most well-known brand is undoubtedly the smart lighting brand Yeelight, which joined the Xiaomi ecosystem in 2014.

According to data from Qianzhan.com and Minsheng Securities Research Institute, the global smart lighting market size increased year by year from 2013 to 2017. In 2018, the global smart lighting market size was approximately USD 14.878 billion, and it is predicted to reach USD 24.341 billion by 2020.

In such a vast market, lighting companies are actively positioning themselves to compete. Traditional lighting giants such as NVC / NVC Lighting, OPPLE, MLS / MLS Co., Ltd., Philips（照明业务：Signify 昕诺飞）, and Panasonic（松下） have launched related smart lighting products. Other manufacturers, including Huawei, Xiaomi, and Alibaba, have also integrated smart lighting products into their AIoT platforms.

Traditional lighting giants have established relatively mature (Sales) channel resources over years of development. For innovative enterprises to gain stronger influence in the (Sales) channel, leveraging the strength of these giants will become a necessary choice, in addition to investing greater effort in product refinement.

Since Yeelight initially sold its products on Xiaomi Youpin, over 60% of the lighting products currently sold by Xiaomi Youpin on Mi Home are from the Yeelight brand, and nearly half of Yeelight's annual sales volume comes from Xiaomi's channels. Once it goes public, Yeelight will face stronger challenges in the capital market, so its sales channels must be further expanded.

It is understood that in terms of channel development, in addition to continuing to develop channels such as the Xiaomi ecosystem chain, online stores, and offline stores, Yeelight is also cooperating with interior design companies, whole-house decoration design companies, and renovation companies to promote customized smart lighting products. At the same time, it is collaborating with giants such as Google China, Japan's SoftBank, South Korea's Naver, Russia's Yandex, and South Korea's Samsung to expand into international markets.

Source: Qingdao Capital Circle, Qichacha, etc.