On August 30, 2026, Boantong Technologies Limited, a company based in Luoyang, Henan Province, filed its prospectus with the Hong Kong Stock Exchange, planning to launch an IPO on the Hong Kong GEM.
Bo'antong IoT, formerly known as Shenzhen Bo'antong Technology Co., Ltd., was listed on the New Third Board on January 24, 2014, under stock code 430597. On May 28, 2026, the company voluntarily delisted from the New Third Board.
Boantong IoT IPO prospectus link
Main Business
Bo'antong IoT, founded in 2003, is a well‑known Chinese supplier of IoT wireless communication and PCBA solutions. The company specializes in wireless modules, antennas, and PCBA solutions, offering comprehensive end‑to‑end solutions for consumer electronics, industrial electronics, and energy‑related applications.
Boantong IoT's portfolio of wireless communication solutions includes:
Wireless modules are primarily used to convert digital data into radio signals and to process received radio waves back into data, enabling cloud connectivity and data transmission for devices such as smart thermostats and smart locks. The company also provides an SDK development kit, including encoding tools, hardware drivers, libraries, and software templates, to support product development and integration with the company's modules.
Antennas are primarily used to capture radio waves received from the air and to transmit signals into space, thereby enhancing signal strength and ensuring stable wireless communication for outdoor routers and asset trackers.
Printed circuit board assembly, including the mounting of wireless modules, antennas, and other electronic components, serves as a fully functional module in smart products such as carbon monoxide sensors, temperature‑controlled cookers, and alarm clocks.
As of the Latest Practicable Date, Boan Tong IoT had delivered solutions covering more than 160 specifications, serving over 1,500 customers annually and addressing compatibility and connectivity challenges between customers' end products and their respective systems.
Shareholder Structure
According to the prospectus, in Boantong IoT's pre-IPO shareholding structure,
Mr. Fu Minggang, holding 27.0877% of the shares, is the single largest shareholder.
Director and senior executives
The Board of Directors of Bo'antong IoT consists of seven Directors, including:
3 Executive Directors:
Mr. Fu Minggang (Founder, Chairman of the Board, and Chief Executive Officer);
Mr. Xue Youdao (Founder and Head of the Consumer Goods Division);
Mr. Zhao Qiguo (Chief Financial Officer, Board Secretary, Co-company Secretary);
1 Non-Executive Director:
Ms. Li Yanling (Practicing Attorney at Guangdong Huashang Law Firm);
3 Independent Non-Executive Directors:
Mr. Gao Wen (Chief Strategy Officer of uCloudlink Group (UCL.US));
Mr. Lei Jianming (Professor and Vice Dean, School of Integrated Circuits, Huazhong University of Science and Technology);
Mr. Yang Yuangui (Chief Financial Officer of Yizhimi, 300415.SZ);
In addition to the Director, the senior management includes:
Mr. Xu Fuqiang (Chief Technology Officer);
Mr. Li Weiyun (Chief Revenue Officer);
Mr. Li Rui (Chief Operating Officer);
Ms. Xie Na (Chief Human Resources Officer).
Company Performance
The prospectus indicates that, for the years 2024 and 2025, as well as the first six months of 2026, Bo'antong IoT reported operating revenues of RMB 174 million, RMB 194 million, and RMB 110 million, respectively, with corresponding net losses of RMB 134,000, RMB 2.779 million, and RMB 1.152 million, respectively.
Brokerage team
The principal underwriting and advisory team for Boantong IoT's IPO includes:
Yuexiu Financing serves as its exclusive sponsor;
Dahua Ma Shiyun serves as its auditor;
Da Cheng serves as the company's China counsel;
Lebo is the company's Hong Kong counsel;
Shihui serves as its China securities lawyer.
Chen Haoming (Shihui Associated Firm) serves as its Hong Kong counsel.
Yuexiu Financing serves as its compliance advisor;
Frost & Sullivan serves as its industry advisor.