Shenzhen HuaxiDa Technology Co., Ltd. (stock code:0901.HK) successfully listed on the main board of the Hong Kong capital market on May 27, 2026. HuaxiDa is a smart home solution provider targeting corporate clients, dedicated to promoting the application of AI technology in home environments. Frost & Sullivan&Frost & Sullivan,hereinafter referred to as"Frost & Sullivan"
HuaxiDa wassuccessfully listed on May 27, 2026, with plans to issue 1,920.73 million shares, 90% of which will be offered internationally and 10% domestically in Hong Kong. The issue price per share is HK$32.8, raising approximately HK$570 million in total funds.
During this listing process in Hong Kong, Frost & Sullivan provided exclusive industry advisory services, helping the issuer accurately and objectively understand its position in the target market, using objective market data to identify and highlight the issuer’s competitive advantages. We assist the issuer in preparing important sections of the prospectus, such as the overview, competitive advantages and strategy, industry overview, and business sections, and help communicate with the Stock Exchange and investors to enable investors to quickly understand the market ecosystem and competition landscape. We also support the issuer in responding to various questions from the Stock Exchange regarding the industry.
Frost & Sullivan has always been a leader in assisting companies with listings in Hong Kong. According toLeadLeo Big Data (statistical data as of March 31, 2026), over the past 36 months and 12 months, and from January to March 2026, Frost & Sullivan provided industry advisory services for 195 (71% market share), 101 (73% market share), and 30 (77% market share) Hong Kong IPO listings, ranking first in terms of number of services. It possesses rich industry experience and communication skills with regulatory authorities, exchanges, investment institutions, and related entities.
Part.01
Investment Highlights
· Based on2024 revenue, HuaxiDa is the eighth largest smart home solution provider in the world;
· Based on2024 revenue, HuaxiDa is the third largest smart home solution provider in mainland China;
· In2017, HuaxiDa became one of the first enterprises in China to obtain GoogleAndroidTV certification;
· In2023, HuaxiDa became the first ODM enterprise in the world to receive GoogleTV projection product certification;
· HuaxiDa collaborates with global leadingOEM manufacturers to build a Matter IoT device ecosystem and forms strategic partnerships with global telecom operators to create a home ecosystem with context-aware functions.
According to Frost & Sullivan report, based on2024 revenue:
· Based on2024 revenue, HuaxiDa is the eighth largest smart home solution provider in the world;
· Based on2024 revenue, HuaxiDa is the third largest smart home solution provider in mainland China.
Part.02
Overview of the Global Smart Home Solution Market
Development of Digital Smart Home Solutions
Driven by technological innovation and evolving user needs, the global digital smart home solution market is undergoing a profound transformation from digitalization and intelligence toAI-driven development. This evolution involves not only technical iteration but also a comprehensive upgrade in home living experiences. In the early stages, home devices focused on single functions, with lack of coordination between devices. As technology advanced, home devices began to have automated control capabilities, allowing users to remotely operate devices via mobile phones or voice commands, thus establishing a smart home network. The development of smart homes is closely linked to advancements in AI. Since the emergence of smart homes in the early 2010s, AI has played a limited but crucial role in achieving basic automation and interaction, such as voice assistants and rule-based control systems embedded in individual devices. With progress in AI algorithms, especially since 2023 with the rise of large language models and agent AI, the integration of AI in home environments has expanded significantly. Smart home systems are moving beyond single functions to become ecosystems with adaptability and context awareness, capable of understanding user behavior, preferences, and intentions. This trend indicates that smart homes will inevitably transform into AIHome.
With the rapid development of global IoT technology and network communication technology, the scale of the global smart home solution market is growing rapidly. In the future, as smart home devices and infrastructure products improve, and consumers demand more intelligent services for home environments, the demand for higher-end iterative products and software subscription-based intelligent services will increase, driving continuous expansion of the global smart home solution market. It is expected to reach $238.2 billion by 2029, with a compound annual growth rate of 21.9% from 2024 to 2029.
Part.03
Overview of the Global Corporate Smart Home Solution Market
Development of the Global Corporate Smart Home Solution Market
Corporate smart home solutions refer to specialized solutions provided for businesses, including smart home devices, infrastructure, and system platforms, enabling businesses to offer these solutions to end-users. Market participants provide digital video devices and network communication equipment for corporate smart home solutions, which play an important role in delivering smart home solutions to businesses, especially telecom operators. Network products such as home gateways serve as core access points for home broadband networks, connecting and managing all smart home devices. By deploying these network devices, operators can achieve unified network management and device access control. Network devices supportWi-Fi, Zigbee, Z-Wave, and Bluetooth, enabling interoperability among smart devices from different brands, thus becoming key platforms for ecosystem integration. Additionally, digital video devices act as control centers for smart home solutions, supporting multi-screen interaction on mobile phones, TVs, and tablets, creating a comprehensive and enjoyable home experience. These devices also serve as important carriers for value-added services such as gaming, online education, and e-commerce for operators. Through these devices, operators can seamlessly integrate diverse content and services into the home environment, increasing user engagement and revenue growth. The global corporate smart home solution market size increased from $6.6 billion in 2020 to $13 billion in 2024.
Currently, in smart home scenarios, there are many device brands, and different communication protocols are used, leading to serious protocol fragmentation issues. Telecom operators face compatibility problems between devices from different brands when deploying full-home smart solutions, making device coordination difficult. Moreover, during system debugging and after-sales maintenance, the diversity of device brands and protocols makes debugging and maintenance complex, requiring significant time and effort, increasing the difficulty and cost of after-sales maintenance and device debugging. Smart home solutions, by adoptingMatter protocol and other standardized interfaces and unified communication protocols, enable interconnection and scenario-based control between various devices, providing users with a stable and efficient one-stop control experience. Additionally, smart home solution providers' cross-platform technical integration capabilities and strong ecosystem cooperation networks reduce deployment complexity and enhance user operation consistency, meeting the high standards of corporate customers for system stability and scalability.
●Need for Cross-Business Collaboration Management
Telecom operators' existing home services, such as broadband, TV, and smart homes, often operate independently, with no effective integration and collaboration between service modules, leading to resource dispersion and inefficient utilization. Additionally, due to inconsistent business processes and low standardization, cross-departmental collaboration faces many obstacles, resulting in low efficiency. This decentralized operation makes it difficult for operators to form a unified service delivery system, unable to provide more value-added services to users, affecting user experience and operational efficiency. Corporate smart home solutions, by integrating underlying capabilities of multiple business modules, such as network management, device control, and user operations, create end-to-end centralized management platforms, enabling resource scheduling and process standardization. This integrated model reduces cross-departmental costs, standardizes business processes, and improves user service response speed through a unified entry point. For example, enhanced collaboration allows smart home infrastructure to dynamically optimize bandwidth allocation for latency-sensitive devices from the design phase, improving service stability and reducing user complaints. Based on this, telecom operators can transform scattered business capabilities into synergy, reducing repetitive inputs while strengthening full-scenario service competitiveness.
●Data-Driven Business Growth
Over time, telecom operators have accumulated vast data on home networks and device usage. However, due to the lack of an effective data governance system and advanced scenario analysis capabilities, operators struggle to fully extract insights from this data, making it difficult to engage in targeted marketing and service innovation. Smart home solutions with built-in analytics platforms can conduct multi-dimensional data analysis on the status, energy consumption patterns, and user preferences of smart home devices, enabling telecom operators to identify high-value user groups and customize membership packages, increasing user retention rates. Cross-selling suggestions can also activate inactive customers, maximizing the value of existing users and enhancing operator service competitiveness.
Future Trends in the Global Corporate Smart Home Solution Market
●OTT Devices and Gateway Devices Will Become Key Hubs in the Smart Home Ecosystem
OTT devices will be expanded to serve as voice interaction centers with integrated perception algorithms, providing deep interaction capabilities with users and gradually becoming core control hubs in the smart home ecosystem. Their support for the Matter protocol enables efficient connectivity with other smart home devices, allowing coordinated execution of diverse home tasks, significantly enhancing the overall system convenience and intelligence level. Additionally, OTT devices integrate a variety of applications and internet resources, offering users multimedia entertainment, online shopping, music playback, games, and other value-added services, further strengthening their strategic position as integrated home hubs. Moreover, gateway devices, as central connectors between various smart devices and platforms, handle core functions such as receiving user commands and coordinating device interactions, making them essential infrastructure for smart homes.
●Telecom Operators Will Have More Diverse and Integrated Needs for Corporate Smart Home Solutions
AsAI technology integrates deeper into home scenarios, global telecom operators are increasingly seeking diversified end-to-end smart home solutions to achieve differentiated services. On one hand, operators are accelerating the adoption of AI technology in existing product categories in home scenarios to enhance the appeal of intelligent products to home users, thereby driving sales growth in smart home products. Based on AI technology, AI devices provide more diverse intelligent services, enhancing user experience and service diversity. On the other hand, operators will continue to introduce diverse innovative products such as home service robots, AI glasses, and wearable devices to meet evolving user demands in companionship, health monitoring, information access, and immersive entertainment. At the same time, operators have higher requirements for solution system integration capabilities, scalability, and hardware-software integration levels. Corporate smart home solutions with end-to-end delivery capabilities, support for multi-device collaboration, and continuous feature expansion will gain a competitive edge and are likely to co-create differentiated, sustainable smart home service ecosystems with telecom operators.
●More Diverse Business Models
As smart home devices expand to include home service robots,AI glasses, wearable devices, and other diverse devices, corporate smart home solutions will focus not only on device and platform integration but also on adding value-added services derived from scenario and device collaboration, including media content management, home security, health management, health monitoring, pet care, data services, and other business paths. This will further enable smart home solution providers to enhance business exploration, ecosystem operation, and continuous service delivery, providing operators and home scenarios with richer and more sticky smart home experiences.
●Providers with Stronger Technical Capabilities Will Have Greater Growth Potential
Technical capabilities in home scenarios are rapidly deepening, and more advanced technologies can provide more precise intelligent services, including predictive user needs, human-computer interaction, and agent-based services. Companies with advanced technical capabilities can better understand and respond promptly to home scenario needs, empowering operators and retailers to provide personalized solutions. This advantage will significantly enhance their market competitiveness and customer loyalty. Therefore, enterprise-level providers with strong technical capabilities will lead in technological innovation and market response speed, driving continuous growth in the corporate smart home solution market.
Global Corporate Smart Home Solution Market Competition Landscape
The global corporate smart home solution market is relatively fragmented. In the global corporate smart home solution market, based on2024 revenue, HuaxiDa is the eighth largest provider and the third largest in mainland China. In the global smart home solution market, comprehensive providers are those with the ability to commercially provide smart home devices, infrastructure, and system platforms on a large scale. Based on 2024 revenue, HuaxiDa ranks eighth among comprehensive providers in the global corporate smart home solution market.
Source: Frost & Sullivan Report
