China's Largest Fishing Equipment Manufacturer Goes Public: Lexin Outdoor (2720.HK)

Industry Report: Lexin Outdoor IPO Sets Benchmark for Chinese Fishing Tackle Sector

Lexin Outdoor International Ltd. (樂欣戶外國際有限公司, stock code: 2720.HK) made history in February 2026 by becoming the first Chinese fishing equipment manufacturer to list on the Hong Kong Stock Exchange (HKEX). The IPO marks a watershed moment for the Chinese fishing tackle industry, bringing unprecedented capital market attention to the sector.

Market Position

According to the company’s prospectus, Lexin Outdoor commands a dominant position in the global fishing equipment market:

• Global market share: 23.1% — the world’s largest fishing equipment manufacturer by revenue (2024)
• China market share: 28.4% — the largest in China
• IPO Price: HK$12.25 per share
• Global Offering: 28,205,000 shares
• Sponsor: China International Capital Corporation (CICC)
• Stock Code: 2720.HK

Company Background

Lexin Outdoor is headquartered in Hangzhou, Zhejiang Province, and operates through its flagship brand Lexin (乐欣). The company specializes in fishing chairs and seating equipment — a niche that has proven to be the foundation of its global dominance.

Core Products

• Fishing Chairs & Seats — The company’s flagship category, including folding chairs, lounge-style seats, and specialized carp fishing chairs
• Fishing Accessories — Rod holders, umbrella stands, and accessory mounts
• Outdoor Equipment — Related outdoor furniture and camping-compatible gear

European Market Focus

Lexin has a particularly strong presence in the European carp fishing market, where comfort seating is a critical product category. The company has developed specialized products like the “Carp Fishing Sofa Chair” to meet European anglers’ demand for extended fishing session comfort.

IPO Details and Significance

The IPO was underwritten by CICC (China International Capital Corporation) with participation from Futu Securities and other international brokers. The listing represents:

• The first HKEX IPO by a Chinese fishing tackle manufacturer
• A valuation platform for comparing Chinese fishing equipment companies against international peers
• Increased visibility for the Chinese fishing tackle manufacturing sector among global investors

Strategic Implications

Lexin Outdoor’s successful listing carries significant implications for the Chinese fishing tackle industry:

1. Capital Access — Other Chinese fishing tackle manufacturers may now explore public listings as a growth funding option
2. Industry Legitimacy — The IPO validates the fishing tackle sector as an investable asset class
3. Global Expansion — Listed status provides Lexin with currency for international acquisitions
4. Brand Building — Public company status enhances brand credibility with international distributors

Outlook

With over 160 million anglers in China alone and growing global participation in recreational fishing, Lexin Outdoor is well-positioned to capitalize on secular growth trends. The company’s dominant market share, combined with its Hong Kong listing, gives it a unique platform to consolidate the fragmented global fishing equipment market.

Sources: HKEX prospectus, company website (www.ridgeoutdoor.com), industry reports.

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