SUNMI TECH-W Makes Strong Debut with Shares Soaring 292% on First Trading Day

Stock News04-29

SUNMI TECH-W (06810) began trading on its first day of listing. According to the company's announcement, the issue price was set at HK$24.86 per share, with a total of 42.6268 million shares offered. Each board lot consists of 100 shares, and the net proceeds raised amounted to approximately HK$922 million. At the time of writing, the stock surged 292.2% to HK$97.5, with a turnover of HK$560 million.

Public information indicates that SUNMI TECH-W is the world's largest provider of commercial Internet of Things infrastructure. As the global leader in Android-based commercial IoT (BIoT), the company pioneered the industry's first PaaS platform called "SUNMI Mini Programs." This low-code modular platform comprises over 1,000 modules and serves more than 20 vertical sectors.

According to data from CIC, SUNMI TECH-W held over 10% of the global Android BIoT market share by revenue in 2024, ranking first worldwide. The company currently serves approximately 64,000 commercial partners globally. It has achieved a coverage rate of more than 70% among China's top 100 restaurant brands and over 60% among the top 100 chain stores.

This strong market penetration is supported by long-term backing from top-tier investors such as Ant Group, Meituan, and Xiaomi Technology. These three strategic shareholders collectively hold more than 43% of the company's shares.

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