Betting on the 3C track! Another cross-border company successfully listed

In recent years, the global demand for 3C accessories has been high, and many companies have seized the business opportunities, ushered in rapid development, and made a lot of money. This has also inspired one cross-border company after another to go public.

Hefilman Technology successfully listed

Recently, Kunshan HiFiMan Technology Group Co., Ltd. (hereinafter referred to as "HiFiMan") was officially listed on the Innovation Board of the New Third Board with the stock code 874481.

The institutions listed this time include: the lead underwriter Shengang Securities, Beijing Deheng Law Firm and Zhongxing Caiguanghua Accounting Firm.

In 2023, Heifman began its journey to go public. The company hopes to obtain more capital support through the listing to accelerate product research and development and the expansion of new markets.

On December 10, 2023, Heifman signed a listing guidance agreement with Shengang Securities and submitted a guidance filing application to the Jiangsu Securities Regulatory Bureau the next day.

On December 15, 2023, Heifman completed the listing guidance filing.

However, during the listing guidance process, Heifiman, after comprehensive consideration, decided to change the listing location and change the listing guidance filing application board from the Shanghai Stock Exchange Science and Technology Innovation Board to the Beijing Stock Exchange. This means that Heifiman gave up the original listing plan on the Science and Technology Innovation Board and chose to list on the Beijing Stock Exchange. This decision is a re-planning of the company's own development strategy.

On May 20, 2024, Heifman submitted an application to the National Small and Medium Enterprise Equity Transfer System and was accepted.

Finally, Heifman was successfully listed on the Innovation Board of the NEEQ.

Haifeiman Technology was founded in 2011 and is headquartered in Kunshan City, Jiangsu Province. Haifeiman integrates R&D, production, sales and service, and its products include headphones, true wireless headphones, wired in-ear headphones, playback devices, etc. The company focuses on "restoring the most authentic sound" and is committed to providing high-fidelity listening enjoyment to users around the world. The main product is "head-mounted fever headphones", and the product positioning is the high-end electroacoustic market. Most of the single products are priced between 1,000 yuan and 10,000 yuan. The most expensive headphone is the "Shangri-La" launched in 2016, which is priced at 300,000 yuan on the official website.

At the beginning of the company's establishment, Heifiman established the development strategy of overseas markets. Branches have been set up in the United States, France, Japan and other places, and first-level agents have been developed in North America, Europe, Asia-Pacific and other regions, with more than 100 agents, thus establishing a complete marketing network. Heifiman's products are sold to economically developed countries and regions with mature consumer markets such as the United States, Europe, Japan, South Korea, and China.

After years of development, HeifiMan's market share in the global headphone industry has reached 12.9%, and its market share in the domestic market has reached 14.8%, and its overall performance continues to improve.

In recent years, Heifman's revenue and net profit have grown steadily.

From 2022 to 2023, Haifeiman achieved operating income of 154 million yuan and 204 million yuan respectively, and net profit of 36.24 million yuan and 55.50 million yuan respectively. The net profit attributable to the shareholders of the company applying for listing after deducting non-recurring gains and losses was 36.16 million yuan and 54.44 million yuan respectively.

Judging from the performance in 2023 alone , the revenue of Heifman headphones accounted for as much as 74%, about 150 million yuan. From the overall source of income, Heifman's overseas business accounted for as much as 66.26%.

It is worth mentioning that HIFIMAN has performed very well on the Amazon platform, especially in the field of HiFi headphones, which is a VC seller on the Amazon platform. The overall price of the headphones sold by HIFIMAN on the Amazon platform is relatively high, and the price of many headphone products is more than US$1,000.

In 2023, HIFIMAN's Amazon VC revenue was 8.88 million yuan, accounting for 4.36%, second only to its largest customer JD.com, showing a strong development momentum.

Hefilman's ability to quickly emerge in overseas markets and achieve such outstanding market performance is due to its continuous efforts and investment in product innovation, technology research and development, and patent accumulation.

Heifman attaches great importance to technological innovation and product innovation. The investment in the R&D team exceeds 40% of the total number of employees. At present, it has core patented technologies such as NEO ultra-nano diaphragm and invisible magnet, and has applied for hundreds of intellectual property rights . In addition, it has independently developed the DAC chip Himalaya , launched a series of innovative products using this technology, and launched a number of well-received headphones and portable players in the global market.

In addition, Heifman has also increased its international visibility and influence by participating in international exhibitions, launching new products, and winning international awards. Many of its products have won international awards, including the "German Red Dot Design Award", "German IF Design Award", "Japan Summer VGP Award", "Global Consumer Electronics Show CES Annual Innovation Award" and other international product awards.

In the future, with the continuous advancement of technology and the continuous expansion of market demand, Heifiman is expected to occupy a more important position in the global high-end audio market.

The global headphone market welcomes new development opportunities

In recent years, the global headphone market has experienced rapid development.

According to research data from Gongyan Industry Consulting, the global headphone market will expand rapidly from 2019 to 2023. In 2023, the global retail volume of headphones will reach 510 million pairs.

With the continuous advancement of technology, headphone products are developing in a more intelligent and personalized direction, and the penetration rate of emerging products is also increasing. Under the development trend of increasing volume and price of new headphone products, the global headphone market will continue to expand. It is estimated that by 2028, the global headphone market will reach 760 million pairs, with a compound annual growth rate of 8.3%.

Another brand that has become popular with its headphone products is Shokz.

(Photo source: Shokz official website)

Shokz is a brand of Shenzhen Shokz Technology Co., Ltd. The company was founded in 2011 and focuses on acoustic technological innovation. It is committed to the research and development and application of open binaural acoustic technologies such as bone conduction, and applies the technology to multiple product series such as outdoor sports and swimming.

After years of development, Shokz has firmly established itself as a market leader in the global bone conduction headphones and professional sports headphones.

By the end of 2021, Shokz has accounted for 70% of global bone conduction headphone shipments in overseas markets, with business covering more than 60 countries and regions around the world.

In December 2023, on Amazon's open-back headphone best-selling list, the top four were actually from the same brand - Shokz.

According to data from global consulting firm Sullivan, in 2023, sales of Shokz's sports headphones reached 4.35 million units, and sales of its open-ear headphones reached 5.2 million units, both ranking first in global sales of their category products.

In general, the global headphone market continues to grow, and unlimited business opportunities are emerging. Technological innovations such as lossless transmission sound quality improvement, intelligent interaction methods, open listening, etc., also bring new growth points to the headphone market. Sellers who want to enter the market can seize the opportunity.

Heifman

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