BRIEF: Huaqin posts solid first-quarter growth as diversification accelerates

Electronics manufacturer Huaqin Co. Ltd. (3296.HK; 603296.SH) reported double-digit first-quarter growth on Thursday, in its first financial results since its Hong Kong listing last week. The company said its revenue for the three months rose 16.4% year-on-year to 40.75 billion yuan ($6 billion), while its profit increased 25.96% to 1.06 billion yuan.

Huaqin attributed the strong performance to its “3+N+3” smart product platform strategy, anchored by its three core businesses in smartphones, laptops and data center equipment, supported by new growth drivers in robotics, software and automotive electronics.

Its mobile terminals business, which includes smartphones, tablets and wearables, grew across the board despite volatile material prices, on the back of launches for new products domestically and overseas. The data center segment also delivered solid growth, backed by a full-stack offering, with super-node shipments set to begin in the second quarter of this year.

Huaqin said its emerging businesses are scaling up from a low base. Revenue from its automotive electronics business exceeded 1 billion yuan last year and is set to double in 2026, with Huaqin showcasing ADAS, smart cockpit and body electronics solutions at the Beijing Auto Show this week. It said its self-developed zone control unit (ZCU) has been deployed in over 30 models.

Its robotics division has delivered and shipped data-collection robot models in volume, with a humanoid prototype completed in late 2025 and an industrial wheeled robot slated for testing this year. Software services are also beginning to generate recurring revenue.

The company raised about HK$4.55 billion ($585 million) in its Hong Kong IPO, with proceeds earmarked for development of its automotive electronics, robotics and other emerging businesses, as well as manufacturing network improvements.

Teri Yu

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