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	Name▼ / Code▼	Industry	Offer Price	Lot Size	Entry Fee	Closing Date	Grey Market Date▼	Listing Date▲
	Jiaxin Intl Res 03858.HK	Diversified Metals & Minerals	10.92	400	4,412.06	2025/08/25	2025/08/27	2025/08/28
	Aux Electric 02580.HK	Household Appliances	16-17.42	200	3,519.14	2025/08/28	2025/09/01	2025/09/02

Summary

We are one of the global top five air conditioner providers, with capabilities covering the design, R&D, production, sales and related services of household and central air conditioners. We capture opportunities in the global air conditioner industry with market size of RMB1,312.8 billion in 2024. Our operations have expanded from China to the world, covering over 150 countries and regions worldwide. In 2024, we are the fifth largest air conditioner provider in the global market in terms of sales volume with a market share of 7.1%, according to Frost & Sullivan. We have earned market recognition and consumer loyalty, making us one of the fastest-growing air conditioner brands globally. During the Track Record Period, we have maintained rapid growth, achieving a sales volume CAGR of 30.0% from 2022 to 2024, comparing to the sales volume CAGR of global air conditioner market of 4.6% during the same period. We provide a wide range of mass-market household air conditioners. The mass market has become the primary growth engine for China’s air conditioner sector, fueled by rural revitalization policies, urbanization-driven demand in lower-tier markets, and consumers’ growing focus on cost-effectiveness. By seizing these industry opportunities with our sales coverage and affordable products, we have consistently increased our market share and brand influence. Furthermore, our multi-brand strategy allows us to cater to diverse consumer needs. We are a key player for smart-enabled air conditioners within the industry, maintaining technology capabilities such as voice recognition and semantic understanding. For over three decades, we have been deeply rooted in the air conditioner industry, continuously striving to provide global consumers with high-quality and affordable products. During the startup phase from 1994 to 2001, we established the AUX brand and quickly gained a strong presence in China’s rapidly growing air conditioner market. We experienced rapid growth from 2001 to 2013, when we penetrated into global markets and built strong brand recognition through continuous product improvement, affordable products and precise brand marketing. We have been transforming and upgrading our sales channels, production capacity and product quality since 2013. We adopted the sales model of streamlining the distribution layers by reducing the number of intermediates, and benefited our consumers. We launched our “Hello AUX” app to better manage and empower our distributors, and then derived and built a unique “Hello AUX” ecosystem. Since 2018, we have advanced our international strategy by establishing production bases and R&D centers in overseas, and then established our overseas sales companies and local teams in areas such as Malaysia, Thailand, the U.S., the UAE, Vietnam and Saudi Arabia to expand our sales in such areas. In addition, we focus on digitalization and supply chain integration to further strengthen our competitive advantages. For details, see “Business — Overview — Our Development History.” Our Brand and Product Matrix We have named our brand “AUX” by transliterating the English word “Ox.” We have leveraged our master brand “AUX” to build our presence in both domestic and overseas markets, and further enhance our market penetration through a multi-brand strategy. We have developed the brands “Hutssom” (華蒜) and “AUFIT,” and introduced premium brands such as ShinFlow to achieve broader global consumer coverage. Through this multi-brand strategy, we are able to address the varying needs and preferences of consumers around the world. Our product portfolio primarily encompasses household and central air conditioners. We concentrate our product development on four key factors: efficiency, comfort, health and intelligence. Our household air conditioners include wall-mounted, cabinet-style and mobile units, while our central air conditioners comprise VRF systems, packaged units, heat pumps, chillers and terminal devices. We rapidly iterate our products and continuously enrich our portfolio, covering a wide range of applications, such as residential homes, office buildings, shopping malls, hotels, hospitals and industrial parks. Source: Aux Electric (02580) Prospectus (IPO Date : 2025/08/25)
Listing Market	MAIN
Industry	Household Appliances
Background	Others
Major Business Area	China

Corporate Information

Substantial Shareholders	ZHENG Jianjiang & Associates (83.54%)
Directors	ZHENG Jianjiang (Chairman and Executive Director) XIN Ning (President and Executive Director) HE Xiwan (Non-Executive Director) LI Jian (Non-Executive Director) ZHENG Jiang (Non-Executive Director) JING Xian (Independent Non-Executive Director) TAO Shengwen (Independent Non-Executive Director) XIANG Wei (Independent Non-Executive Director)
Company Secretary	LAU Yee Wa ZHANG Bo
Principal Bankers	Agricultural Bank of China Limited China Minsheng Banking Corp. Ltd.
Solicitors	Jingtian & Gongcheng Kirkland & Ellis International Maples and Calder (Hong Kong) LLP
Auditors	Ernst & Young
Registered Office	Room 1912, 19/F., Lee Garden One, 33 Hysan Avenue, Causeway Bay, Hong Kong
Share Registrars	Tricor Investor Services Ltd. [Tel: (852) 2980-1333]
Share Registrars Tel No	(852) 2980-1333
Internet Address	http://www.aux-home.com
Email Address
Tel No
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