Shanghai-based Shenzhen Sunmi Technology Co., Ltd. Has launched its initial public offering in Hong Kong, aiming to raise approximately 10.6 billion Hong Kong dollars through the global sale of 42.6 million H-shares.
The company, which trades under the ticker 06810.HK, priced its shares at HK$24.86 each, with a board lot size of 100 shares, resulting in an entry cost of HK$2,511.07 per lot for retail investors.
According to the prospectus, Sunmi Technology plans to list on the Hong Kong Stock Exchange on April 29, 2026, following the subscription period that runs from April 20 to April 24.
The offering includes a 10% allocation for the Hong Kong public and a 90% international placement. Joint sponsors for the IPO are Deutsche Bank, CITIC Securities and Agricultural Bank of China International.
Two cornerstone investors have committed to the deal: China Orient Enhanced Income Fund, managed by China Oriental International Asset Management, and XINWUTANG CO., LIMITED. Together, they are subscribing for approximately HK$2.86 billion worth of shares, equivalent to 11.52 million shares or about 27% of the total offering.
Sunmi Technology reported annual revenue of 3.812 billion yuan for 2025, representing a year-on-year increase of 10.3%. Net profit reached 223 million yuan, up nearly 23% from the prior year, while gross margin improved to 31.3% from 28.9% in 2024.
The company states that, based on 2024 revenue data from a Frost & Sullivan report, it is the largest provider of Android-based business IoT (BIoT) solutions globally, with a market share exceeding 10%. Its solutions are deployed across more than 200 countries and territories, serving over 15 major industries and more than 100 niche vertical markets.
As of December 31, 2025, Sunmi Technology said it had served more than 70% of the world’s top 50 food and beverage enterprises, with approximately six million smart devices active monthly on its platform.
Net proceeds from the IPO are expected to total approximately HK$9.087 billion. The company intends to allocate roughly 40% (HK$3.635 billion) to research and development of BIoT hardware and software solutions, 30% (HK$2.726 billion) to strengthening its supply chain and production operations, 20% (HK$1.817 billion) to implementing a global market expansion plan, and the remaining 10% (HK$90.9 million) to working capital and general corporate purposes.
