HUHUTECH International Group (HUHU) to Raise $6 Million in IPO

HUHUTECH International Group (HUHU) expects to raise $6 million in an IPO on Tuesday, October 22nd, IPO Scoop reports. The company will be issuing 1,300,000 shares at $4.00-$6.00 per share.

In the last twelve months, HUHUTECH International Group generated $16.7 million in revenue and $2.3 million in net income. The company has a market-cap of $106 million.

Craft Capital Management and EF Hutton acted as the underwriters for the IPO.

HUHUTECH International Group provided the following description of their company for its IPO: “We offer process and control systems as well as factory management solutions for industrial clients, mostly semiconductor and electronics manufacturers. Our business is conducted through our subsidiaries in China and Japan. (Incorporated in the Cayman Islands) Note: The holding company is offering the stock in the IPO. We, through our subsidiaries, specialize in providing factory facility management and monitoring systems, including high-purity process system (“HPS”) and factory management and control systems (“FMCS”) for our industrial clients, who are mainly semi-conductor manufacturers and electronics manufacturers in China. We believe our products and services are widely used by semi-conductor manufacturers, LED and micro-electronics factories, as well as some pharmaceutical, food and beverage manufacturers. Within the HPS, we provide two types of solutions: (1) High-purity gas conveyor system. The high-purity gas conveyor consists of a specialized gas cabinet, the valve manifold box (“VMB”), the gas monitoring software and gas valve parts. This system is connected to our clients’ own factory equipment, which will receive gas through the system we install. The gas conveyor ensures that the high-purity gas will not be contaminated by being exposed to air, liquid or small particles during the delivery. (2) High-purity chemicals conveyor system. The high-purity chemicals conveyor system conveys multiple chemicals used in the cleaning, corrosion and grinding process. This system consolidates multiple sub-systems including high-purity chemical pipes, valve, chemical sensor, and the chemical monitoring software. With the high-purity chemical conveyor system, we deliver chemicals from the storage container to the client’s manufacture equipment through the distribution valve. Both high-purity gas conveyor system and high-purity chemicals conveyor system are capable of delivering special high purity gas and chemicals in a highly controlled environment that ensures the gas and chemicals meet the purity requirement of our clients’ production process, as well as monitors potential safety issues in the production. Our FMCS solution provides instant and effective monitoring over our clients’ manufacturing process through the control center located in the clients’ factory. The FMCS service monitors the facility production atmosphere, and consolidates sub-systems, including gas monitoring system (GMS), chemical monitoring system (CMS), high and low voltage power distribution, air pressure system, air conditioning system, water system, access control system, elevator system, sewage treatment system, waste gas emission system, pure water system and other systems. Our software is capable of consolidating all the sub-systems by creating a facility-wide software monitoring platform, where one can monitor and control every aspect of the factory condition. Additionally, we also develop individual sub-systems for our clients, such as gas monitoring system and chemical monitoring system. Some of our clients are seasoned manufacturers in their industries in China. Our clients include Li Yi System Engineering (Shanghai) Limited, Hefei Lanke Investment Co., Ltd., Shiyuan Technology Engineering Co., Ltd., and AUO Corporation. Note: Net income and revenue are in U.S. dollars for the 12 months that ended Dec. 31, 2023.  (Note: HUHUTECH International Group filed its F-1/A on Aug. 28, 2024, and disclosed the terms for its small-cap IPO: The company is offering 1.25 million shares at a price range of $4.00 to $6.00 to raise $6.25 million.) “.

HUHUTECH International Group was founded in 2015 and has 74 employees. The company is located at 3-1208 Tiananzhihui Compound 228 Linghu Road Xinwu District, Wuxi City, Jiangsu Province People’s Republic of China 214135 and can be reached via phone at 0510-88681689.