Hanshow Technology Co., Ltd.

Hanshow Technology Co., Ltd. is a global provider of digital solutions for retail stores, listed on Shenzhen's ChiNext board in March 2025 under ticker 301275 . Founded in 2012, the company built its position on electronic shelf labels—wireless devices that replace paper price tags in supermarkets, enabling real-time, centralized price updates across large-format stores . Heart Capital, an early backer, noted that Hanshow's team combined deep technical expertise in wireless communication protocols and chip architecture with quiet operational discipline, giving them a near-monopoly among domestic clients at the time of investment .

The company's growth trajectory was explicitly global from 2016–2017 onward, with a pivotal 2017 partnership with French retailer Auchan marking its European beachhead . By the time of its IPO, Hanshow served over 400 clients across more than 50 countries and claimed a global market share approaching 30% in electronic shelf labels, with annual revenue having scaled from roughly ¥100 million at Heart Capital's entry to over ¥4 billion . The listing itself comprised 42.24 million shares at ¥27.50 apiece .

Related coverage: Heart Capital's portfolio news also covers unrelated companies such as MiniMax (an AI firm in Yunqi Capital's portfolio) .