Zhitong Finance App learned that on October 27, Guangdong Baolun Electronics Co., Ltd. (Baolun Co., Ltd.) passed the Shanghai Stock Exchange Main Board Listing Committee meeting. The sponsor of the IPO is GF Securities, which plans to raise 1,583 billion yuan.
According to the prospectus, Baolun Co., Ltd. is an industry-leading provider of “sound, light, electricity, video, and communication” system solutions. It is mainly engaged in R&D, production and sales of professional audiovisual products such as public broadcasting systems, professional sound reinforcement systems, smart conference systems, display terminal systems, command management systems, and lighting systems.
Since its establishment in 2008, the company has been deeply involved in the professional audiovisual field. With “technology leadership, deep scene cultivation, and ecological co-construction” as its development strategy, it has now become a leading domestic enterprise with a complete product line and a wide range of application scenarios, and has one-stop service capabilities from product R&D, manufacturing to overall solution design and implementation.
The company's products and solutions have deeply served the fields of education, government agencies, public inspection and law, enterprises, cultural tourism, etc., covering typical scenarios such as conference rooms, smart campuses, theaters, lecture halls, cultural and sports venues, transportation hubs, and scenic spots. Relying on a rich product system and continuous technological innovation capabilities, the company provides customers in various industries with full life cycle services from demand research, solution design, product delivery to system operation and maintenance, empowering the digital transformation and intelligent upgrading of thousands of industries.
In terms of technology and R&D, the company adheres to R&D innovation, continues to cultivate core technologies such as audio and video codec, audio 5A algorithm, low latency transmission processing, distributed real-time splicing, intelligent network optimization, data redundancy disaster recovery, and high-precision indoor positioning, and focuses on cutting-edge technical directions such as AI audio enhancement, multi-modal semantic analysis, edge computing, and visual analysis, to build a solid technical base and mature scene implementation capabilities.
During the reporting period, the company's main business revenue was divided by product category as follows:
The company's direct customers are mainly integrators, but also include traders, ODM customers, and a small number of direct purchasing end users. Among them, integrators integrate the company's products into the overall solution and deliver them to end users through system integration, which is an important channel for connecting products to the terminal market; traders use distribution networks to promote products to a wider range of markets; ODM customers make customized purchases from the company, and the company develops and produces according to customer requirements and then delivers them after attaching their designated brands.
On the financial side, in 2023, 2024, 2025, and January-June 2026, Baolun shares had operating income of approximately RMB 3,043 billion, RMB 2,788 million, RMB 2,768 billion, and RMB 1,093 million, respectively; for the same period, net profit was approximately RMB 589 million, RMB 413 million, RMB 424 million and RMB 86 million, respectively.
