Company announcement no. 32-2024
November 21, 2024
Audientes A/S of Denmark and Shenzhen Hengtong Partner Co. Ltd. of China have completed registration of their new joint venture company in the hearing industry, which is officially established under the name of ZhiYinYou Technology Limited.
Audientes A/S (“Audientes”), CVR 36047631, a Danish innovator in the field of affordable, self-fitting hearing aids and hearables, and Shenzhen Hengtong Partner Co. Ltd. (“Hengtong”), investor in Audientes and distributor of its hearing products in China, are pleased to announce the legal establishment and registration of their joint venture, ZhiYinYou Technology Limited. The joint venture has been officially registered with the Chinese authorities and is now operational.
Board of Directors
The Board of Directors for ZhiYinYou Technology Limited comprises representatives from both Audientes and Hengtong, reflecting the collaborative nature of this partnership. The Board members are as follows:
- Xiaojuan Liu, CEO of Shenzhen Hengtong Partner Co. Ltd.
- Steen Thygesen, CEO of Audientes A/S
- Wendi Ma, Audientes representative
- Li Wang, Hengtong representative
- Xianjun Chen, Hengtong representative
Strategic Vision
The joint venture ZhiYinYou Technology Limited will be based in Shenzhen in China and is established to combine Audientes’ innovative self-fitting hearing technology and product innovation with Hengtong’s extensive market expertise and distribution network. The joint venture’s mission is to provide advanced yet affordable hearing solutions, customized for the growing needs of the Chinese market, while also expanding to other global markets.
Operational Focus and Goals
With its establishment, ZhiYinYou Technology Limited will prioritize:
- Product Development: Leveraging Audientes’ expertise in hardware and software platforms to create innovative hearing aids with great user experience tailored for the Chinese market.
- Market Expansion: Utilizing Hengtong’s distribution channels to achieve extensive market reach within China and beyond.
- Regulatory Approvals: Streamlining the approval process for medical devices in collaboration with Chinese authorities to expedite product launches.
- Customer Accessibility: Broadening access to affordable hearing solutions through expanded sales channels, including participation in government health initiatives.
Immediate Next Steps
ZhiYinYou Technology Limited will immediately focus on developing a new range of smart hearing aids and related products, with the first products expected to hit the market in late 2025. These efforts are backed by a capitalization plan, operational strategy and compliance with all legal and regulatory standards.
This announcement reflects Audientes’ and Hengtong’s unwavering commitment to providing innovative hearing solutions and advancing the global hearing healthcare industry.
CEO Comments
Steen Thygesen, CEO of Audientes and Board Member of ZhiYinYou Technology Limited, commented:
“The official establishment of ZhiYinYou Technology Limited marks a significant milestone in our journey to deliver affordable, high-quality hearing solutions to the Chinese market. This joint venture not only strengthens our market position but also accelerates our mission of making hearing healthcare accessible to millions. By combining Audientes’ technology innovation and development know-how with Hengtong’s commercial expertise, we are creating a powerful platform to achieve sustainable growth and impact lives positively.”
Xiaojuan Liu, CEO of Shenzhen Hengtong Partner Co. Ltd., commented:
“Now that the joint venture company has been officially registered in China, we are well-positioned to enter the fast track for obtaining NMPA regulatory approval and stand a greater chance of securing government support, such as centralized procurement projects, investment initiatives, and more. In 2024, several provinces in China introduced various subsidy policies to encourage individuals with hearing loss to adopt hearing aids at an earlier stage. These policies are expected to be rolled out nationwide within three years, presenting a tremendous opportunity for our growth. The joint venture combines the strengths of Audientes’ innovative products and Hengtong’s robust marketing expertise. With the company fully established and operational, we are ready to soar to new heights of success.”
For further information, please contact:
Steen Thygesen, CEO
Audientes A/S
Phone: +45 77 34 16 80
Email: st@audientes.com
About Audientes A/S
Audientes A/S is a Danish hearing health company specializing in smart, self-fitting and affordable hearing aids and advanced hearables. Audientes’ unique hearing aid solution, Ven™ by Audientes, is available for purchase in the Indian and Nepalese markets and will be introduced in other markets in the coming years. Companion by Audientes is an advanced hearable, a consumer electronics product, that is commercially available in Europe and later in 2024 in Japan, China, and other markets.
Audientes’ mission is to make high-quality hearing aids and hearables for hearing improvement or hearing enhancement accessible to everyone who needs them globally. Audientes is listed on Spotlight Stock Market Denmark (AUDNTS) and headquartered in Copenhagen, Denmark with a subsidiary in Hyderabad, India and Tokyo, Japan.
For additional information please refer to the company’s websites, www.audientes.com, www.audientes.eu, or www.audientes.in.
About Shenzhen Hengtong Partner Co. Ltd.
Shenzhen Hengtong Partner Co., Ltd. was established in Shenzhen in 2013. It was founded by a group of people with deep experience in the fields of medicine, finance and marketing. At the beginning of its establishment, the company specialized in the distribution of medical and health products as an agent, with products sold directly to medical institutions and distributed to medical equipment companies in various regions.
During the past 10 years Hengtong has gradually expanded its medical products portfolio from imaging and dialysis products to information systems, interventional therapy and rehabilitation products. Sales channels include hospitals, medical equipment companies, pharmacy chain stores, digital chain stores, community centers and online platforms. Partners include the world’s top 500 enterprises, world-class retail groups, China’s largest Internet communication platform, China Disabled Persons’ Federation etc.
For additional information please refer to the company’s website: www.htbnsz.com.
