SUNMI Technology Co., Ltd. has launched its initial public offering (IPO) on the Hong Kong Stock Exchange (HKEX). Shanghai SUNMI Technology Group Co., Ltd. (SUNMI TECHNOLOGY CO., LTD., stock code: 06810.HK) will conduct its share offering from April 21 to April 24, with a total global offering size of 42,626,800 H-shares. The offer price is fixed at HK$24.86 per share, with a board lot size of 100 shares per lot, resulting in an approximate entry fee of HK$2,511.07 per lot (inclusive of transaction fees). The company is expected to be listed on the Main Board of the HKEX on April 29. The joint sponsors for the IPO are Deutsche Securities Asia Limited, CITIC Securities (Hong Kong) Limited, and ABCI Capital Limited.

SUNMI Technology: A Global Leader in Android-based BIoT Solutions

Offering Structure: The Hong Kong public offering accounts for approximately 10% of the total global offering, equivalent to 4,262,700 shares (rounded to the nearest 100 shares), while the international offering accounts for approximately 90%, equivalent to 38,364,100 shares. The offering is subject to the over-allotment option (if exercised).

Offer Price: HK$24.86 per H-share (fixed price)

Board Lot Size: 100 shares per board lot

Entry Fee: Approximately HK$2,511.07 per board lot (including related transaction costs)

Subscription Period: April 21 to April 24, 2026 (inclusive)

Expected Listing Date: April 29, 2026 (subject to HKEX approval)

Joint Sponsors: Deutsche Securities Asia Limited, CITIC Securities (Hong Kong) Limited, ABCI Capital Limited

Company Overview

SUNMI Technology is a leading global provider of Business Internet of Things (BIoT) solutions, integrating intelligent hardware, software, and data analytics capabilities to empower the digital transformation of offline commercial scenarios. According to data from China Insights Consultancy, the company ranked as the world’s largest Android-based BIoT solution provider by revenue in 2024, with a global market share exceeding 10% in the segment.

As of December 31, 2025, SUNMI’s BIoT solutions have been deployed in more than 200 countries and regions worldwide, covering over 90% of the world’s major markets. The company maintains approximately 6 million monthly active smart devices in its ecosystem and provides services to over 70% of the world’s top 50 food and beverage enterprises (based on the company’s internal statistics and industry rankings).

Financial Information

According to the company’s prospectus (submitted to the HKEX), SUNMI Technology recorded total revenues of approximately RMB 3.071 billion, RMB 3.456 billion, and RMB 3.812 billion for the fiscal years ended December 31, 2023, 2024, and 2025, respectively. Corresponding net profit for the same periods was approximately RMB 101 million, RMB 181 million, and RMB 223 million. Adjusted net profit (a non-IFRS financial measure, excluding certain non-recurring items and fair value changes) was approximately RMB 105 million, RMB 220 million, and RMB 269 million for the three fiscal years.

Based on the fixed offer price of HK$24.86 per H-share and assuming that the over-allotment option is not exercised, the company is expected to raise net proceeds of approximately HK$909 million from the IPO (after deducting underwriting fees and other related offering expenses). The planned allocation of the net proceeds is as follows: approximately 40% for the research and development (R&D) of BIoT hardware and software solutions; 30% for strengthening supply chain management and optimizing production operations; 20% for global market expansion (including regional sales network construction and brand promotion); and the remaining 10% for working capital and general corporate purposes.

uSMART launches “HK IPO Fee-Waiver Offer” – subscribe to new shares at zero cost

Margin subscription: 0 % interest, leverage up to 10×

Cash subscription: HK$0 handling fee

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* 0 % interest applies to margin subscription amounts of HK$20 million or below.

^ All handling fees are waived for cash subscriptions.

This promotion is effective from 5 December 2025 until further notice. Certain high-profile IPOs may be excluded. The actual interest rates and fees charged are those shown in the uSMART App subscription interface; statutory government and exchange levies will still apply. The company reserves the right to amend, suspend or terminate the above offer or its terms and conditions at any time without prior notice, and its interpretation shall be final.

How to Subscribe for SUNMI Technology via uSMART HK

The uSMART HK App features an IPO Centre with exclusive perks, allowing clients to subscribe instantly to public offerings. After logging into the app, tap "Trade" at the bottom-right, go to "IPO Subscription," select SUNMI Technology, tap "Public Offer," enter your subscription quantity, and submit your order.

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