Earning 800 million in half a year! Ranked first in Amazon category! Another Shenzhen big seller is going public

Amazon is doing well, so it is natural for it to go public. Now, another Amazon Shenzhen hot-selling product is going public.

Recently, the Hong Kong Stock Exchange disclosed the prospectus of Vesync Co., Ltd ( hereinafter referred to as "Vesync") after it passed the hearing. It will soon be listed on the main board of Hong Kong.

It is reported that Vesync is a Shenzhen company that mainly engages in the design, development and sales of small household appliances and smart home devices . It currently mainly sells products to end consumers through third-party online trading markets (especially Amazon). Its products are mainly sold to the United States, Canada, the United Kingdom, Germany, France and other places.

Vesync has three core brands, and its brands and main products are as follows:

It develops many smart home devices under its own brand, including smart small appliances such as smart WiFi light switches, smart WiFi sockets, smart body fat scales, smart ovens, etc.

From 2017 to 2019 , Vesync 's revenue was US$85.21 million, US$145 million, and US$172 million , respectively, with a compound annual growth rate of 83.5%. The profit (i.e. annual net profit) for the year was US$1.867 million, US$4.361 million, and US$6.372 million, respectively .

Since the beginning of this year, the overseas epidemic has continued, the stay-at-home economy in Europe and the United States has boomed, and small household appliances and other household items have ushered in a sales peak. Vesync 's performance has also seen explosive growth, with revenue increasing from approximately US$75.3 million in the first half of 2019 to US$129.3 million (approximately RMB 844 million ) in the same period of 2020 , an increase of 71.7% ; net profit increased from US$2 million in the same period last year to US$22.5 million , a growth rate of 1025% .

From the sales market perspective, North America contributed over 80% of the revenue, of which the United States' sales revenue reached US$99.028 million, accounting for 76.6% , and Canada and other countries' revenue accounted for 8.2% ; the European market also contributed over 13% of the revenue.

Vesync is a big player in the small appliance online market in the United States . Among small appliance retailers, its retail sales on Amazon in the United States ranked third in 2019, with air purifiers ranking first and air fryers ranking second .

Vesync is also highly dependent on Amazon. Data shows that in 2017, 2018 , 2019 and the first half of 2019 and 2020 , the company's revenue generated through Amazon was approximately US$ 84.7 million, US$ 144 million, US$ 171 million and US$ 125 million, respectively, accounting for approximately 99.4% , 99.3% , 99.2% and 96.5% of the company's total revenue, respectively.

This is a typical example of Amazon doing well and being able to go public. There have been many such examples in the past two years.

In October, the overseas technology innovation consumer brand "VanTop " officially announced the completion of its 300 million yuan Series A financing .

It is understood that Wantuo Technology was established in September 2017 and is headquartered in Shenzhen. It focuses on brand sites on platforms such as Amazon and eBay. Its product categories cover 3C electronics, outdoor sports, mobile smart devices, etc. Its products are mainly sports cameras, projectors, drones, security, tablets , etc.

When it comes to Vantage, it is a well-deserved Amazon bestseller. In 2018 , the company's first projector was launched, and its projector series products ranked first on Amazon (North America) for 24 consecutive months , with annual sales exceeding 100 million .

In the first half of this year, its sales increased by 473% year-on-year, exceeding the entire year of last year.

Those who got financing got financing, and those who got listed got listed, which is truly enviable and jealous.

After all, who among these big sellers didn’t start out as a small seller and accumulate sales to get to where they are today? So, don’t be jealous, as long as you get enough orders, all sellers have a chance.

(Source: Cross-border Black Technology)