Le Xin Outdoor Seeks Hong Kong Listing, Boasts 23.1% Global Market Share

Le Xin Outdoor International Limited, a prominent manufacturer of fishing equipment, has submitted an application to the Hong Kong Stock Exchange for a main board listing. The company, which is known for its extensive product range and innovative designs, has seen significant growth in recent years.

According to the prospectus, Le Xin Outdoor is the largest fishing equipment manufacturer globally, with a market share of 23.1% based on 2024 revenue. The company's product portfolio includes a wide array of items such as fishing chairs, fishing beds, rod holders, fishing carts, and fishing boxes, as well as bags like single-shoulder bags, fishing tackle bags, and rod bags, and tents like fishing shelters, social tents, and sunshades. These products are designed to cater to various fishing scenarios, including carp fishing, competition fishing, lure fishing, fly fishing, and ice fishing.

The company operates on a dual business model, combining OEM/ODM manufacturing capabilities with a growing OBM business to meet diverse market demands. Leveraging its broad product range, advanced product design and innovation, flexible supply chain, and stringent quality control, Le Xin Outdoor provides comprehensive OEM/ODM solutions for outdoor fishing equipment brands, covering the entire process from product design to manufacturing. During the reporting period, the company's revenue primarily came from the OEM/ODM model, accounting for 94.1%, 90.2%, 92.3%, and 92.9% of total revenue in 2022, 2023, 2024, and the four months ending April 30, 2025, respectively.

In addition to its OEM/ODM business, Le Xin Outdoor has strategically expanded into the self-branded business. The company acquired the renowned British carp fishing brand Solar in 2017, which has since seen steady growth in its OBM business. With continuous resource investment and a leading supply chain, Solar's sales in 2024 were approximately three times higher than in 2018. The experience gained from Solar has provided Le Xin Outdoor with a standardized process framework for brand management, product development, and effective marketing strategies under the OBM model. Based on this, the company is prepared to expand its OBM operations by launching or acquiring additional fishing equipment brands.

Financially, Le Xin Outdoor reported revenues of approximately 818 million yuan, 463 million yuan, and 573 million yuan for the years 2022, 2023, and 2024, respectively. The company's net profits for these years were approximately 114 million yuan, 49 million yuan, and 59.4 million yuan, respectively.