The new stock is rumored that AUX Electric will be listed in Hong Kong as soon as September, raising up to 800 million USD

According to Bloomberg News citing informed sources, China's leading air conditioning manufacturer Aux Electric plans to conduct its initial public offering (IPO) in Hong Kong as early as September this year, with expected fundraising amounts between $600 million and $800 million. Since the plan is still in the early stages, the specific issuance scale and timing may be adjusted.

Aux Electric submitted its listing application to the Hong Kong Stock Exchange last month, with China International Capital Corporation (CICC) serving as the sole sponsor. Preliminary prospectus information shows that the group is one of the top five air conditioning suppliers globally, focusing on the design, research and development, production, and sales of household and central air conditioning systems. Since promoting its globalization strategy in 2018, it has established production bases and research and development centers overseas, and has set up overseas sales companies in Malaysia, Thailand, the United States, the United Arab Emirates, Vietnam, Saudi Arabia, and other locations.

As of the end of the first quarter of this year, Aux Electric recorded revenue of 9.352 billion yuan and a net profit of 925 million yuan, representing year-on-year growth of 27% and 23%, respectively