VeSync Co., Ltd (“VeSync”) (HKG:2148) is a market player in the small home appliance online market in the United States (U.S.). According to Frost & Sullivan, the company is ranked third in terms of retail sales generated through Amazon and fifth through all online channels in 2019 in the U.S.
Shares of the Chinese company rose nearly 59.4% above its initial public offering (IPO) price of HK$8.8 marking a solid trading debut on the Hong Kong stock exchange on 18 December 2020. If you are looking at VeSync with interest, here are 10 things to know before you invest.
- Business model
VeSync’s business principally focuses on online marketing and sales of self-designed and developed products. The company’s products are sold to users through its accounts in the U.S., Canada, the United Kingdom (U.K.), Germany, France, Spain, Italy and Japan, among others. Its core brands include “Levoit”, “Etekcity” and “Cosori”. The product life cycles for its key products are typically above two years.