Profits increased more than 20 times! Amazon's big brand sprints for IPO at the beginning of the year

Nowadays, with the continuous iteration and upgrading of smart products, the concept of smart home is becoming more and more popular, and consumers' demand for smart video monitoring and care is increasing day by day. Especially in developed countries such as Europe and the United States, single-family houses are quite common, and home smart video monitoring equipment has become a rigid demand.

The strong market demand has strongly promoted the rapid development of smart monitoring companies.

In this industry boom, Mi Rui Technology stands out and starts its sprint to go public!

Mirui Technology plans to issue shares publicly and list on the Beijing Stock Exchange

Recently, Mirui Technology issued an announcement stating that the company plans to issue shares publicly and list on the Beijing Stock Exchange.

Looking back on the listing process of Mirui Technology , we have to start from 2023.

On October 23, 2023, Mirui Technology signed a coaching agreement with Guosen Securities Co., Ltd., and submitted the application materials for the initial public offering and listing coaching registration to the Zhejiang Regulatory Bureau of the China Securities Regulatory Commission through Guosen Securities .

On November 3, 2023, the application materials for registration of the initial public offering and listing guidance submitted by Mi Rui Technology were accepted. Mi Rui Technology entered the guidance period from that day , and the guidance institution was Guosen Securities.

Entering 2024, Mirui Technology 's listing guidance work is progressing in an orderly manner.

On January 10, April 8, July 4 and October 9, Guosen Securities submitted progress reports on the first to fourth phases of guidance work to the Zhejiang Securities Regulatory Bureau respectively.

On January 19, the tutoring institution submitted the "Explanation on the Change of the Proposed Listing Application Board of Hangzhou Mirui Technology Co., Ltd.", adjusting the listing tutoring filing board from the GEM to the Beijing Stock Exchange.

On October 10, the board of directors of Mirui Technology announced its application for listing on the Beijing Stock Exchange.

On December 2, 2024, Guosen Securities issued the "Report on the Completion of Guidance Work for the Initial Public Offering and Listing of Hangzhou Mirui Technology Co., Ltd." From November 3, 2023 to the date of issuance of the report, five rounds of guidance work have been carried out and progress has been smooth.

Not long ago, the stock of Mirui Technology Co., Ltd. was officially suspended, and its IPO application was accepted by the Beijing Stock Exchange. The sponsor was Guosen Securities Co., Ltd., marking that its listing process has entered a critical stage.

Hangzhou Mirui Technology Co., Ltd. was established in February 2017. It is the parent company of ARENTI, a well-known brand in the Amazon mother and baby smart monitoring device category. The company's main business is the research and development, design, production and sales of smart network cameras and IoT video products that integrate hardware, software, cloud services and AI technology.

Soon after its establishment, Mirui Technology has set its sights on overseas markets, choosing Amazon, Walmart JD.com, self-built independent websites, and AliExpress as its sales channels. The company was the first to enter the North American market and successfully entered large supermarkets such as Walmart and Kingfisher. Today, its products are not only sold well on major e-commerce platforms, but also entered well-known European and American supermarkets such as Walmart, Kingfisher, and OBI, serving more than 10 million users worldwide. Among them, the Amazon platform, as a mainstream sales channel, has a large share and continues to rise.

With star products such as the ARENTI brand's smart maternal and infant monitor, Mirui Technology has gained multiple hot-selling SKUs on the Amazon platform, accumulating good sales performance and user reputation. At present, the company's products are exported to more than 100 countries and regions around the world, with customer groups widely distributed in Europe, North America, Asia, Oceania and other places. It has built a complete sales network and established long-term and stable cooperative relations with many overseas partners.

The intelligent monitoring products created by Mirui Technology, with the advantage of low power consumption design, significantly reduce energy consumption while ensuring excellent performance, effectively extending the use time of the equipment.

In particular, its AOV (Always on Video) low-power product not only supports 7×24 hours of non-stop all-weather recording, but also has extremely low power consumption, making it an ideal choice for outdoor scene monitoring. The product is equipped with a high-performance image sensor and incorporates advanced AI algorithms to achieve accurate human detection and mobile monitoring alarm functions. Once an abnormal situation is detected, it can notify the user in the form of an alarm at the first time, greatly improving security prevention capabilities.

In addition, the product also supports wireless communication technologies such as 4G LTE to ensure the stability and efficiency of video transmission. Even in an environment with unstable network or no network coverage, the device can use the built-in storage medium to record and store local video. Users can easily achieve real-time monitoring, video playback, and alarm information reception through remote monitoring tools such as mobile phone APP.

Mirui Technology's star product , the mother-infant smart monitor, fully meets the user's need to clearly view the baby's status. It has cutting-edge technologies such as high-definition video shooting, night vision function, and intelligent image recognition. It can accurately identify the baby's movements and cries, and send notifications to parents in a timely manner, bringing great convenience and peace of mind to parents.

In addition to smart monitoring products, Mirui Technology has also launched an intelligent voice assistant based on natural language processing technology. With the help of deep learning and speech recognition algorithms, this product can accurately understand the user's voice commands, thereby realizing the voice control function of the device.

While its performance is growing rapidly, Mirui Technology still faces risks

In recent years, Mirui Technology's performance has also been outstanding.

Specifically, from 2021 to 2023 and the first half of 2024, Mirui Technology's operating income was 551 million yuan, 549 million yuan, 673 million yuan and 328 million yuan, respectively. Although the operating income in 2022 was slightly lower than that in 2021, this short-term fluctuation did not affect its overall development trend.

In 2023, the company's operating income rebounded strongly, climbing to 673 million yuan, a year-on-year increase of 22.67%, which is an outstanding growth rate in the industry. In the first half of 2024, the company continued to maintain a good development momentum, with operating income reaching 328 million yuan, a year-on-year increase of 14.78%.

In terms of net profit, Mirui Technology's growth momentum is even more rapid. In 2021, the company's net profit was 3.0064 million yuan, and in 2022, the net profit jumped sharply to 39.1466 million yuan, and in 2023 it reached 71.5764 million yuan, an astonishing 23-fold increase compared to 2021. This significant net profit growth not only reflects Mirui Technology's strong profitability, but also highlights its huge market potential and development prospects.

However, it should be noted that while developing rapidly, Mi Rui Technology also faces some risk factors.

Since the company's export revenue accounts for a high proportion, any adverse changes in the overseas operating environment, such as adjustments to import policies, differences in economic, political, legal and business environments, etc., may have an adverse impact on the company's operating performance .

In addition, although Mi Rui Technology 's domestic business has developed in recent years, the overseas market is still the main source of revenue for Mi Rui Technology. Therefore, changes in the overseas market environment or adjustments to trade policies may have an impact on Mi Rui Technology's business.

In terms of revenue growth, Mirui Technology has also shown some volatility in its development over the past three years. According to the prospectus data, the company's revenue growth rate in the first year of the last three full fiscal years showed a slight decline ( -0.47%), but then achieved a rapid growth of 22.67% in the second year, and the compound growth rate of revenue reached 10.5%. This also suggests that Mirui Technology needs to pay attention to market changes in its future development and continue to optimize its business strategy to maintain a stable growth trend.

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