Zhejiang Sanhua Intelligent Controls Co Ltd (2050 HK) is a Chinese company specializing in refrigeration and air-conditioning control components and is reportedly the world's largest manufacturer in its sector by revenue. The company plans to list on the Hong Kong Stock Exchange on June 23, 2025. The deal was upsized to 414.38 million shares and priced at HKD 22.53, the top of its indicated range, raising HKD 9.34 billion (USD 1.19 billion). This gives the company a market capitalization of USD 11.90 billion. This is a dual listing for the company, which is already traded on the Shenzhen stock exchange.