Three Flower Intelligent Launches $5.62B H-share Offering for Global Expansion

Three Flower Intelligent, a leading global manufacturer of refrigeration and air conditioning control components and automotive thermal management system parts, has launched its H-share public offering. The company plans to sell 360 million shares globally from June 13 to June 18, 2025. The offering includes 7% of shares for public sale in Hong Kong and 93% for international sale, with an additional 15% over-allotment option. The shares are priced between 21.21 and 22.53 Hong Kong dollars each, with a face value of 1.00 Chinese yuan per share. The company aims to list on the Hong Kong Stock Exchange on June 23, 2025.

The public offering has attracted several prominent cornerstone investors, including Schroders, GIC, Hong Kong and Shanghai-based Jinhua Capital, Green Better, Verition, Zhongding Capital, Mirae Securities, ICBC Wealth Management, China Post Wealth Management, and Taikang Life Insurance. These investors have committed to purchasing shares worth approximately 5.62 billion US dollars.

Three Flower Intelligent is a key player in the global market for refrigeration and air conditioning control components, with an estimated market share of 45.5% in 2024. The company is also a notable player in the automotive thermal management system parts market, holding an estimated 4.1% market share. The company is dedicated to advancing smart, low-carbon economies and green environmental practices, focusing on the research and application of thermal management technologies. It provides efficient, energy-saving solutions to global customers, with business operations spanning refrigeration and air conditioning electrical components and automotive parts. The company is also actively exploring new areas such as bionic robot electromechanical actuators.

This public offering is a strategic move for Three Flower Intelligent to expand its market reach and capitalize on the increasing demand for its products. The significant international component of the offering underscores the company's global expansion strategy. The inclusion of a 15% over-allotment option demonstrates the company's confidence in the market's demand for its shares, providing flexibility to meet potential high demand. The funds raised from this offering will support the company's ongoing operations and future growth initiatives, positioning Three Flower Intelligent for continued success in the global market.