New LED player joining the Beijing Stock Exchange? Hongyibai completes tutoring filing registration

On February 26, Hongyibai Lighting Co., Ltd. completed the tutoring filing registration with the Jiangsu Securities Regulatory Bureau, preparing for its IPO. Its tutoring institution is SDIC Securities Co., Ltd.

Image source: official website

Hongyibai signed the "Tutoring Agreement on Public Issuance of Stocks to Unspecified Qualified Investors and Listing on the Beijing Stock Exchange" with SDIC Securities on January 25, 2024. On January 30, 2024, the company submitted to the Jiangsu Regulatory Bureau of the China Securities Regulatory Commission the tutoring filing materials for the public issuance of stocks to unspecified qualified investors and listing on the Beijing Stock Exchange.

It is reported that Hongyibai's main business is the design, R&D, production and sales of LED lighting products. Its products are widely used in residential lighting, commercial lighting, landscape lighting, industrial lighting and other fields, specifically including two major categories: LED light source products and LED luminaire products. Among them, LED light source products mainly include screw-base high-bay lights, small street lights, shop lights and household bulb lamps; LED luminaire products mainly include high-bay lights, flood lamps and downlights.

In addition, Hongyibai's revenue mainly comes from overseas sales, with an overseas sales proportion of over 96%, primarily covering regions such as Asia-Pacific, Latin America, and Europe. Hongyibai pointed out that its top five customers are all overseas clients, with the main customer being LEDVANCE, accounting for more than 30.00% of sales during the reporting period. It is introduced that Hongyibai has maintained a long-term cooperative relationship with the LEDVANCE Group and has signed a framework cooperation agreement, becoming the largest supplier of LED light source products to the LEDVANCE Group.

Source: LEDinside, Jinrongjie