On June 10, 2026, Fujian Senda Electric Co., Ltd. (hereinafter referred to as "Senda Electric"), headquartered in Cangshan District, Fuzhou City, Fujian Province, filed a prospectus with the Hong Kong Stock Exchange, proposing a listing on the Main Board of the Hong Kong Stock Exchange.
Senda Electric was listed on the National Equities Exchange and Quotations (NEEQ) on December 3, 2014, under stock code 831406.NQ.
Senda Electric prospectus link
Core Business
Established in 1995, Senda Electric is a technology-driven provider of intelligent power distribution equipment and control systems, primarily serving data centers and power grid applications. It has grown into China's leading integrated supplier of high- and low-voltage switchgear assemblies.
According to Frost & Sullivan,
In 2025, based on revenue from complete power distribution equipment solutions for the data center sector, Senda Electric ranked second with a market share of 3.3%;
In 2025, based on revenue from complete power distribution equipment solutions for the telecommunications sector, Senda Electric ranked third with a market share of 3.6%.
Senda Electric’s product portfolio primarily includes: (i) low-voltage switchgear assemblies; (ii) high-voltage switchgear assemblies; and (iii) other electrical products. The company’s solutions are widely deployed in smart grid scenarios and its products are extensively used in new infrastructure development, the power industry, construction, manufacturing, and other sectors. The company has established strategic partnerships with multiple multinational electrical equipment manufacturers, successfully integrated into the supply chain of a well-known automotive battery producer, and maintains long-term, stable collaborations with key enterprises in the power and telecommunications industries as well as numerous large Chinese state-owned enterprises.
High-voltage switchgear assemblies are electrical equipment that receive, transmit, distribute, control, and protect high-voltage electrical energy (typically above 1 kV) within power systems. These switchgear assemblies allocate incoming power to various branch circuits according to demand through internal circuit design, while simultaneously enabling real-time monitoring and protection of the circuits.
Low-voltage switchgear assemblies are electrical equipment that receive, transmit, distribute, control, and protect low-voltage electrical energy (typically 1 kV or below). These devices connect directly to end-user electrical equipment and are typically used in conjunction with high-voltage switchgear assemblies.
Other electrical products, primarily including compact insulated low-voltage AC busway systems, intelligent modular busway systems, prefabricated power modules, and other electrical components.
Shareholding Structure
According to the prospectus, prior to its listing, Send Electric's shareholder structure was as follows:
Mr. Zhou Haizhu, holding 80% of the shares, is the controlling shareholder.
Directors and Senior Management
The board of directors of Send Electric consists of eight directors, including:
Five executive directors:
Mr. Zhou Haizhu (Chairman of the Board);
Mr. Chen Zeyin (Chairman of the Board, Deputy General Manager);
Mr. Kang Quanshui (General Manager);
Mr. Lin Faguang (Deputy General Manager);
Ms. Fu Lingyan (Board Secretary, Chief Financial Officer, Deputy General Manager);
3 Independent Non-Executive Directors:
Mr. Huang Keke (Partner and Deputy Director, Fujian Guofu Law Firm);
Mr. Xiao Ping (Executive Director and General Manager of Xiao Cheng Jiu (Fujian) Education Technology);
Mr. Peng Yongkang (Chief Financial Officer of MIG International Holdings (01247.HK));
In addition to executive directors, senior management includes:
Mr. Xie Guiyun (Deputy General Manager).
Company performance
Financial data show that in the past three years—2023, 2024, and 2025—Senda Electric’s revenue amounted to RMB 521 million, RMB 625 million, and RMB 655 million, respectively, with corresponding net profits of RMB 98 million, RMB 149 million, and RMB 140 million.
Intermediary team
The main intermediaries for Senda Electric’s IPO are as follows:
CSCI International serves as its sole sponsor;
KPMG as its auditor;
Haiwen & Partners as its PRC legal counsel;
Zhong Lun (Hong Kong) acts as its Hong Kong and U.S. legal counsel;
DeHeng serves as PRC legal counsel to the sponsor;
Paul Hastings serves as Hong Kong and U.S. legal counsel to the sponsor;
Honzbo Capital is the compliance advisor;
Frost & Sullivan served as its industry consultant.