China $13.4 Billion HVAC (Heating, Ventilation & Air Conditioning) Manufacturer Zhejiang Sanhua Files for Hong Kong Secondary Listing IPO to Raise $1 Billion with Expected Listing on 23rd June 2025, Zhejiang Sanhua Founded in 1994 & Sanhua Holding Founded in 1984, Founder is President Zhang Daocai Who is Billionaire with $5 Billion Fortune
14th June | Hong Kong
China HVAC (Heating, ventilation & air conditioning) manufacturer Zhejiang Sanhua ($13.4 billion market value) has filed for a Hong Kong secondary listing IPO to raise $1 billion with expected listing on 23rd June 2025. Zhejiang Sanhua was founded in 1994 & Sanhua Holding was founded in 1984. Founder is President Zhang Daocai, who is a billionaire with $5 billion fortune. Profile – Zhejiang Sanhua Intelligent Controls co Ltd. (SZ002050) is engaged in the research and production of control components, sub-system and technological solutions applied in HVAC&R and home appliance. It is the world’s largest supplier of commercial and residential air conditioning, commercial and industrial refrigeration, and home appliances (washing machine, clothes dryer, all-in-one washer dryer, refrigerator, freezer, dishwasher, and coffeemaker). Its main products like four-way reversing valve, electronic expansion valve, solenoid valve, step valve and micro-channel heat exchanger take the biggest share of the market all over the world.The clients are listed in Fortune Global 500 and China’s Fortune Global 500 companies. It works closely with the customers from early R&D to massive production. It is industry-leading, dedicated to provide customers with updated, energy-saving, and intelligent systematic solutions. It has over 10 sales companies in China, North America, Europe, Japan, Korea, and Southeast Asia. In China and foreign countries, it has seven production bases, located in Xinchang, Hangzhou, Wuhu and Zhongshan, China, and Thailand, Vietnam, the USA, Mexico, and Poland. It also has three R&D Centers which are located in Xinchang and Hangzhou, China, and Austria. Background – Established in 1984, Sanhua Holding Group takes “Flowers of Management, Technology and Talents” as the core of culture and focuses on the technology of heat pump control and thermal management system. We have already become one of the top international companies in industrial areas including HVAC&R, home appliances, and automobile thermal management. Also, we are going to manufacture products applied in energy storage thermal management and industrial automation. We have 10 main products and over 30 different categories of products nearly capturing the biggest share in the world. Our clients are listed in Fortune Global 500, or Top 500 Enterprises of China, including Carrier, Johnson Controls, Nordyne, GM, Ford, Miele, Bosch, Siemens, Electrolux, Valeo, MAHLE Behr, Volkswagen, BMW, Mercedes-Benz, Audi, Daikin, Toshiba, Panasonic, Hitachi, Mitsubishi, Sharp, Fujitsu, Mitsubishi Electric, Calsonic Kansei, Toyota, Honda, LG, Samsung, Gree, Midea, AUX, Haier, Kelon, FAW, SAIC MOTOR, BAIC MOTOR, Volvo, BYD, NIO, ONE, XPENG. Sanhua has 10 main production bases located in China (Meizhu and Damingshi, Xinchang, Binhai New Area, Shaoxing, Qiantang New Area, Hangzhou, Cixi, Ningbo, Wuhu, Anhui, and Zhongshan, Guangdong), Haiphong, Vietnam, Tychy, Poland, and Saltillo, Mexico. Overall, we have 57 factories worldwide. There are about 30 sales companies of Sanhua in China, Japan, Korea, Southeast Asian countries, Europe, and the USA. Sanhua’s sales increased 10.52%, to 57.8 billion RMB in 2023. By December 31, 2023, we have more than 36,000 employees all over the world and overseas affiliates employ over 4,600 associates.
“ China $13.4 Billion HVAC (Heating, Ventilation & Air Conditioning) Manufacturer Zhejiang Sanhua Files for Hong Kong Secondary Listing IPO to Raise $1 Billion with Expected Listing on 23rd June 2025, Zhejiang Sanhua Founded in 1994 & Sanhua Holding Founded in 1984, Founder is President Zhang Daocai Who is Billionaire with $5 Billion Fortune “
China $13.4 Billion HVAC (Heating, Ventilation & Air Conditioning) Manufacturer Zhejiang Sanhua Files for Hong Kong Secondary Listing IPO to Raise $1 Billion with Expected Listing on 23rd June 2025, Zhejiang Sanhua Founded in 1994 & Sanhua Holding Founded in 1984, Founder is President Zhang Daocai Who is Billionaire with $5 Billion Fortune
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