Futu News reported on April 29 that $SUNMI TECH-W (06810.HK)$ the stock opened high on its first day, surging by 292.2%. As of the time of writing, it was trading at HKD 97.5 per share. With each lot consisting of 100 shares and excluding handling fees, investors earned HKD 7,264 per lot.
Source of Market Data: Futu Securities
According to earlier reports, in the previous trading session's Futu dark pool trading, Sunmi Technology closed up 282.14% at HKD 95 per share. With each lot consisting of 100 shares and excluding handling fees, investors earned HKD 7,014 per lot.
In addition, according to earlier reports, during the public offering phase, Sunmi Technology received subscriptions 2,003.16 times the number of shares available. The final number of shares allocated for public offering was 4.2627 million shares, accounting for approximately 10% of the total shares offered. A total of approximately 204,900 valid applications were received, with about 32,542 applications processed. The percentage of shares allocated to applicants who subscribed for one lot relative to the total number of shares applied for was approximately 5%.
Furthermore, during the international placement phase, Sunmi Technology received subscriptions 7.91 times the number of shares available. The final number of shares allocated for international placement was 38.3641 million shares, equivalent to 90% of the total shares offered.
Company Overview
The company is a global leading provider of Business Internet of Things (BIoT) solutions. Its disruptive solutions integrate smart hardware, software, and data insights, empowering various offline commercial scenarios to achieve digital transformation and enhance the efficiency of core business operations such as payment, membership management, order fulfillment, inventory control, and staff management.
The company's BIOT solutions mainly include smart devices and the BIOT PaaS platform. Each smart device is powered by the company's professional commercial operating system (namely SUNMI OS), enabling merchants to efficiently manage and optimize their transactions and operations. The BIOT PaaS platform provides unified software infrastructure equipped with ready-to-use development tools, allowing merchants and developers to efficiently develop, manage, and upgrade specific vertical scenario software applications for smart devices. As of December 31, 2025, the company recorded over 200 million cumulative downloads of applications on the Shangmi app market.
Financial Highlights
Revenue increased from RMB 3,070.5 million in 2023 to RMB 3,456.4 million in 2024 and further to RMB 3,811.9 million in 2025. For the fiscal years ended December 31, 2023, 2024, and 2025, the company reported gross profits of RMB 821.2 million, RMB 997.3 million, and RMB 1,192.9 million respectively, with gross profit margins of 26.7%, 28.9%, and 31.3%.
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Editor/Joe