HONG KONG, April 15, 2026 /PRNewswire/ — Huaqin Technology (603296.SH) has formally kicked off the global offering of its H shares on the Hong Kong Exchange, with trading expected to commence on April 23, positioning the company as an “A+H”-listed intelligent product platform.

The offering is sized at approximately US$580 million. Cornerstone investors have collectively subscribed to around US$290 million, accounting for 50% of the shares on offer. Including anchor allocations covering a further 40%, institutional investors are set to hold roughly 90% of the deal.

The IPO has attracted a high-profile roster of 17 cornerstone investors, including JPMorgan Asset Management, UBS Asset Management, Gaoyi Asset Management, Orchid Asia, Taikang Life, 3W Fund, China Life Franklin Asset Management, Everbright Wealth Management, Ivy Capital and the Tsinghua Education Foundation, underscoring strong backing from long-term institutional capital. The offering also brings in strategic industry investors spanning the supply chain, such as JCET, Kingboard Holdings, OmniVision, Xiaomi, Shenghong Technology, Beijing Junzheng and Awinic.

Huaqin Technology reported robust financial performance in 2025, with revenue reaching RMB171.44 billion, up 56.0% year-on-year, while net profit attributable to shareholders rose 38.6% to RMB4.05 billion. The company has built a “3+N+3” intelligent product platform: its three core businesses—smartphones, laptops and servers—form a stable revenue base; an extended portfolio covers smart living, commercial digital productivity and full-stack data center infrastructure, including wearables, printers, AIoT devices and switches; and three innovation pillars—automotive electronics, robotics and software—are driving new growth trajectories.

The company is the only ODM globally to hold leading market positions across five major segments: smartphones, tablets, wearables, laptops and data infrastructure. In 2024, it ranked first worldwide in consumer electronics ODM shipments, with a 22.5% market share.

Huaqin’s data center business generated over RMB40 billion in revenue in 2025, nearly doubling year-on-year, with AI servers contributing more than 70%. Switch revenues also saw multiple-fold growth, while hyperscale node projects are expected to enter mass production and delivery in the second half of 2026. Meanwhile, edge AI large models are expanding from the cloud to end devices such as smartphones, wearables and smart home systems, unlocking incremental demand across product categories.

The company has established deep and broad relationships with leading global technology brands. It partners with nine of the world’s top 10 smartphone brands—including Samsung, Xiaomi, OPPO and Sony—four of the top five tablet brands, four of the top five wearables brands—including Meta—and four of the top six PC vendors, such as Lenovo and ASUS. Its data infrastructure business serves all major domestic cloud service providers, including Alibaba, Tencent, ByteDance and Baidu, while its automotive electronics unit collaborates closely with SAIC, Wuling and several emerging EV manufacturers. Overseas revenue accounted for 53.8% in 2025.

Customer concentration has also improved, with the largest client contributing 14.9% of revenue in 2025, and the top five customers accounting for a combined 54.1%.

Recent A-to-H IPOs have typically seen cornerstone allocations of 30%–40%, but Huaqin’s 50% ratio—alongside a largest single cornerstone ticket of US$68 million—places it at the top end of recent deals. Combined with a 90% institutional ownership structure and participation from key industry players, the transaction reflects strong market confidence in the company’s platform resilience and growth prospects.

Under new leadership, global connectivity provider recognized for culture transformation, employee-first approach and deep emotional connection across a worldwide team

PALO ALTO, Calif., April 15, 2026 /PRNewswire/ — Plume Design, Inc. (“Plume“), the global technology leader trusted by more than 450 Internet Service Providers (ISPs) across 58 countries, today announced it has earned Most Loved Workplace® Certification from Most Loved Workplace® and the Best Practice Institute less than one year after launching a company-wide culture transformation initiative under new leadership. This certification, based on the proprietary Love of Workplace Index® (LOWI) framework, is awarded to organizations where employees demonstrate the deepest levels of positive sentiment, shared values and emotional connection to their work. Plume will be featured among certified Most Loved Workplaces® in upcoming editions in The Economist (May 2026) and The Wall Street Journal (October 2026).

The recognition marks a significant milestone in a deliberate transformation. When Dan Herscovici assumed the role of President and CEO in April 2025, he made culture one of the company’s first strategic priorities. Over the past year, the company has undertaken a company-wide culture initiative anchored in rebuilding trust, strengthening accountability and ensuring every Plume team member feels they belong and can do their best work. The results can be measured through the LOWI framework and are reflected in employees’ own words, describing their experiences.

“There is a beautiful collaborative spirit that runs through Plume. We problem solve as a team, challenging each other in a psychologically safe manner, to come up with the best solutions. We have a shared desire to deliver excellent service to our customers.”

“The company’s focus on improving culture has helped me grow personally and professionally. There is a new direction that was missing previously and now there is always something new to learn.”

“The new tone that is being set at the top of the company is refreshing and reaffirming. Plume has clear goals, and what we are working towards is exciting. My colleagues, including supervisors and team members, are all great to work with.”

“We have an incredible culture of transparency, empowerment and accountability. Every day we have interesting, technical challenges to solve, which is rewarding. Our leaders give us the right balance of support and autonomy.”

“When I joined Plume, I came to a company with extraordinary technology and an outstanding team of professionals that wanted to believe in where they worked, so we made creating a great culture and rewarding work environment one of our top objectives,” said Mr. Herscovici. “We treated it as a business imperative, because you cannot deliver world-class experiences for 450 ISP customers if the people building the products and solutions don’t feel respected and heard. Building better connections is not just a tagline, it is a commitment that we strive for every day, not only with our customers, but equally with our team members. This recognition reflects the genuine commitment we have made to implementing changes that employees can see and feel. We are proud of being recognized for our efforts, and we intend to keep earning our team members’ trust and respect.”

“Culture transformation at a company with offices around the world doesn’t happen by sending an email,” said Lorie Boyd, Chief People Officer at Plume. “We set out to rebuild trust, to create real accountability and to make sure every team member, in every country we operate, felt seen and supported. What made this real was that we didn’t treat it as an HR initiative. It was a complete commitment from the CEO down through the entire organization. The words our employees used to describe their experiences here tell us the work is landing. That is what matters most.”

Most Loved Workplace® certification is earned following LOWI assessment across the five SPARK dimensions: Systemic Collaboration, Positive Future, Alignment of Values, Respect and Killer Outcomes.

“What sets Most Loved Workplaces apart is not a score on a survey — it is the depth of emotional connection employees feel to their work, their colleagues and the future they are building together,” said Louis Carter, CEO and Founder of Best Practice Institute and Most Loved Workplace®. “Plume demonstrates exactly what the SPARK model reveals in the highest-performing organizations: a positive vision of the future that people believe in, values that are lived not posted and leaders who create the conditions for people to love where they work. That is not soft. That is a competitive advantage.”

Plume powers intelligent, cloud-managed Wi-Fi, security, and subscriber experience services for more than 450 ISPs globally — including Bell, Charter, Jio, J:COM, Liberty Global and FPT Telecom — delivering reliable, secure and personalized experiences across nearly half a billion connected devices worldwide.

The culture initiative coincides with a period of accelerating business momentum. Over the past 12 months, Plume has:

• Expanded its ISP partnerships to more than 450 across 58 countries
• Acquired Sweepr, a leading AI care orchestration platform, enabling industry-first  unifying network intelligence and digital care in a single platform offering
• Launched the industry’s first open Agentic AI platform for ISPs, built on telemetry and network insights from 500 million connected devices
• Made a commitment to open standards by joining organizations such as RDK Community, prpl Foundation and Connectivity Standards Alliance
• Deepened partnerships by deploying advanced WiFi 7 technology with marquee ISPs including J:COM in Japan and FPT Telecom in Vietnam

Plume joins a global community of certified companies recognized by Most Loved Workplace® for placing the emotional wellbeing and connection of their people at the center of how they operate. For more on why Plume was certified as a Most Loved Workplace®, visit https://mostlovedworkplace.com/companies/plume/.

Ms. Boyd will participate in a Most Loved Workplace hosted webinar, Rebuilding Belief in Employee Voice, on Wednesday, April 15 at 3 pm Eastern. Click here to register for the free webinar.

About Plume
Plume created the first managed Wi-Fi platform for Internet Service Providers (ISPs) in 2016 and continues to lead today with a best-in-class solution for cloud-managed Wi-Fi, security, and workflow orchestration – all powered by an unmatched dataset and AI. With almost half a billion devices connected to its platform, Plume is a trusted technology partner for more than 400 ISPs around the world, helping them deliver subscriber confidence through better Wi-Fi experiences, new services, and proactive customer care. Plume leverages OpenSync®, an open-source framework that comes pre-integrated and supported on the leading silicon, CPE, and platform SDKs, and supports leading industry standards like RDK-B and prplWave. Combined with powerful AI orchestration tools with its acquisition of Sweepr, Plume now offers ISPs a true end-to-end solution to power their most important workflows and customer experiences, while making deployment simpler and faster. Plume is leading the way in providing ISPs an intelligence and innovation edge to stay competitive, build subscriber confidence, and adapt to the changing needs of the market. Discover more about how Plume is empowering ISPs by visiting https://www.plume.com.

About Most Loved Workplace®
Most Loved Workplace® is a certification and research organization that identifies companies where employees demonstrate the deepest levels of positive sentiment and emotional connection, measured across the five SPARK dimensions: Systemic Collaboration, Positive Future, Alignment of Values, Respect, and Killer Outcomes. Certified Most Loved Workplaces® are eligible for inclusion on annual Top 100 lists featured in leading publications such as The Economist (Top 100 Global Most Loved Workplaces) and The Wall Street Journal (America’s Top 100 Most Loved Workplaces), and on broadcast features on CNBC, Fox Business, Bloomberg and others. Learn more at mostlovedworkplace.com.