Amazon's billion-level blockbuster is about to go public!

In today's fierce market competition, there are always some companies that make a lot of money in their respective fields with their unique products and keen market insights. Shangrui Technology is one of them. Riding on the momentum of continued growth in performance, Shangrui Technology is making all-out efforts to go public!

Shangrui Technology is sprinting towards the New Third Board!

Recently, Amazon's best seller Shangrui Technology disclosed a public transfer statement, applying for its shares to be listed on the National Equities Exchange and Quotations and publicly transferred, and the company's New Third Board listing materials have been officially accepted.

It is reported that the total number of shares listed by Shangrui Technology this time is 52,901,208 shares, and it is planned to be listed on the basic layer of the New Third Board. The sponsoring underwriter is GF Securities.

Industry insiders generally believe that Shangrui Technology is expected to become the first listed company in the cross-border e-commerce industry in 2025.

However, Shangrui Technology's road to listing has been full of twists and turns.

Previously, Shangrui Technology had planned to list on the Growth Enterprise Market.

On February 23, 2024, Shangrui Technology completed the registration for tutoring with the Guangdong Securities Regulatory Bureau, intending to issue shares for the first time and list on the Growth Enterprise Market. The tutoring broker is GF Securities .

Although it initially planned to list on the ChiNext, Shangrui Technology ultimately chose to list on the New Third Board.

According to public information, Shangrui Technology was founded in 2011. The company is headquartered in Dongguan, Guangdong. It mainly engages in cross-border e-commerce business. Its products include functional clothing, home life, digital technology and maker hardware, etc. , which can meet the needs of different consumer groups. The company owns several independent brands such as ORORO, TURBRO, Genmitsu, Sainamart, Airthereal, etc.

Currently, the company's main sales channels include Amazon , eBay, AliExpress , Shopify brand independent website, etc., and its products are sold to countries and regions such as North America and Europe.

In addition, Shangrui Technology has established cooperative relationships with well-known companies such as Home Depot and Wayfair, further expanding its sales channels.

Moreover, Shangrui Technology has reached a strategic investment agreement with COSCO Shipping Development, a subsidiary of China Ocean Shipping Group, the world's number one integrated shipping and logistics group . This is very helpful for the company to consolidate its supply chain foundation and expand its business service areas .

Shangrui Technology's performance is growing rapidly! Its own brand ORORO has outstanding market performance

In recent years, Shangrui Technology's revenue and net profit have seen rapid growth.

From 2022 to 2023 and the first half of 2024, Shangrui Technology's operating income was approximately RMB 1.2 billion, RMB 1.416 billion and RMB 527 million, respectively, and the net profit attributable to the parent company's owners was RMB 77.04 million, RMB 98.76 million and RMB 36.38 million, respectively.

Judging from the market performance of specific sales channels, Amazon is the platform with the highest revenue for Shangrui Technology. In 2023, Shangrui Technology's revenue on the Amazon platform reached 1.039 billion yuan, accounting for 73.38% of its revenue. Another platform with a high sales share is the independent station. In 2023, Shangrui Technology's revenue on the independent station was 294 million yuan, accounting for 20.79% of its revenue.

According to the revenue of different products, functional clothing has the highest revenue share. In 2023, the revenue of functional clothing represented by the ORORO brand reached 534 million yuan, accounting for 37.75% of the total revenue. In 2023, Shangrui Technology's home life products had a revenue of 418 million yuan, digital technology products had a revenue of 317 million yuan, and maker hardware products had a revenue of 141 million yuan.

From this, it can also be seen that Shangrui Technology's independent brand has driven the company's revenue to continue to grow at a high rate and promoted significant growth in the company's profitability.

Take ORORO as an example. It is the number one brand of heated clothing on the Amazon platform. It has won the Best Seller and the highest rating with its single product. It is also Walmart’s Best Seller brand.

(Photo source: Walmart)

Why have ORORO's products achieved such outstanding results?

This story begins in 2016.

This year, ORORO's first electric heating suit was launched. This product uses the THERMOLITE high-tech fabric developed by Lycra and is matched with carbon fiber heating materials. It can greatly improve the electric heat conversion effect and has good waterproof insulation performance. The lithium battery and charger equipped with the clothes have obtained UL international certification, ensuring that consumers are safer when wearing them.

ORORO's electric heating clothing is not only practical, but also has a high-value appearance design. Therefore, once it was launched, it was widely welcomed by overseas consumers and ranked TOP1 in Amazon's sub-category. Even in the hot summer, ORORO's products often dominate the list, because some consumers will buy ORORO's heated clothing in advance for winter use or as gifts for others. Some special groups of people may also need to use heated clothing in the summer, such as the elderly and patients with diseases such as rheumatoid arthritis. They may feel cold even in the summer. ORORO's heated clothing can provide warmth for these special groups of people. In addition, there are some people engaged in refrigeration and cold chain work who also need heated clothing to keep their bodies warm when working in low temperature environments.

In addition to traditional heated jackets and vests, ORORO has also launched heated gloves, socks, insoles and other accessories to meet consumers' wearing needs in different seasons and occasions. This rich product line gives consumers more choices and allows them to purchase corresponding products according to their needs.

Shangrui Technology’s ability to gain a dominant position in the market is inseparable from its long-term R&D and innovation.

Since its establishment, Shangrui Technology has attached great importance to product research and development and innovation. It is reported that as of June 30, 2024, the company has obtained 67 patents, including 5 invention patents, 27 utility model patents, and 35 design patents .

ORORO brand heating clothing can achieve adaptive effects by sensing changes in external temperature, and the battery life can reach more than 10 hours in low-power mode . The use of these innovative technologies gives Shangrui Technology's products more market advantages.

At the same time, Shangrui Technology also pays great attention to the development of high value-added business links, such as product R&D design and operation sales, etc. Through accurate market analysis, Shangrui Technology can adjust sales strategies in time according to market changes, such as adjusting product pricing or launching discount promotions to improve product conversion rates and sales.

Social media promotion has also played a very critical role in enhancing the brand awareness and influence of Shangrui Technology.

Shangrui Technology operates accounts on social media platforms such as Facebook, YouTube, Instagram and TikTok , and has attracted a large number of fans and potential customers by publishing attractive content and holding interactive activities. At the same time, it also cooperates with well-known Internet celebrities to let them recommend Shangrui Technology's products on their social media accounts, and with the help of the influence and fan base of Internet celebrities, it quickly increases the popularity and sales of products.

Shangrui Technology also sponsors multiple teams in the National Football League, the National Hockey League, and NASCAR racing teams, bringing a lot of exposure and traffic to the brand .

In the future, after Shangrui Technology successfully goes public, it will receive more financial support, which will play a very important role in expanding the company's business scale, increasing R&D investment and enhancing brand influence.

Shangrui Technology will leverage its advantages in big data technology and product R&D and design to continuously enrich its product categories to meet the needs of different consumer groups. Shangrui Technology will also further expand its global market to enhance its brand competitiveness in the international market.

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