Lukker Technology has officially submitted a listing application to the Main Board of the Hong Kong Stock Exchange, with China Galaxy International serving as the exclusive sponsor. Founded in 2014, the company has achieved consecutive profitability. Its product line has expanded from an initial smart lock management system targeting the apartment market to the home-use sector, where it launched the industry's first finger vein and palm vein smart locks.
The company positions itself as a pioneer in global AI-powered home security solutions, offering integrated systems centered around smart locks for home and community safety, intelligent management, and home care. Lukker Technology generates revenue through three primary channels: sales of its own consumer brand products, including Lukker consumer-grade smart locks and AI home security systems; providing ODM services for other brands; and offering commercial solutions under the "云丁" brand.
The company's brand strategy operates on a "dual-engine" model. The "Lukker" brand primarily targets the home consumer market, while the "云丁" brand focuses on the commercial solutions sector. Its product evolution clearly demonstrates a path of technological advancement, starting with the launch of an integrated apartment smart lock and management system in 2015, followed by the industry's first mass-produced finger vein smart lock in 2021, and the first mass-produced palm vein smart lock in 2023.
According to Frost & Sullivan data, Lukker Technology holds leading positions in several market segments. It ranks first globally in shipments of vein recognition smart locks, with a market share of 10.5%. In the overall global smart lock market, the company's 2024 shipments reached 1.3 million units, ranking fourth worldwide with a 2.6% market share. Within China, its smart lock shipments were 1.2 million units, securing the third position with a 5.8% market share. In the apartment smart lock segment, Lukker has maintained a leading position since introducing its integrated system and held the largest market share in China's apartment smart lock segment in 2024.
Technologically, the company leverages its self-developed AI image algorithms to advance smart lock biometric authentication from traditional fingerprint and facial recognition to more secure and accurate vein recognition.
Financially, Lukker Technology has demonstrated steady growth. The company reported revenues of RMB 1.015 billion in 2023 and RMB 1.086 billion in 2024. For the first three quarters of 2025, revenue increased by 11.5% to RMB 774 million from RMB 694 million in the same period of 2024. Net profit was RMB 14.026 million in 2023 and RMB 53.113 million in 2024. Gross profit margins were 31.1% in 2023, 35.2% in 2024, and 31.2% for the first three quarters of 2025. Net profit margins were 1.4%, 4.9%, and 4.1% for the respective periods.
Regarding shareholding structure, Lukker has attracted several well-known investment institutions. Baidu entities hold an 18.43% stake, making Baidu the largest external investor. Founder and CEO Chen Bin holds a 15.33% direct stake and additional interests through various entities. The company has undergone multiple funding rounds with investments from institutions including Baidu, Shunwei Capital, SIG Asia Investments, Zhongguancun Science City, BlueRun Ventures, Xianfeng, Fosun Group, Legend Star, and Xiaomi. Following a RMB 200 million investment from Zhongguancun Science City in December 2025, the company's valuation reached RMB 3.5 billion. The board of directors consists of seven members.
Proceeds from the IPO are intended primarily for technology research and development, marketing of its own brand and overseas market expansion, repayment of certain existing debts, and working capital.