Haier Smart Home Co is considering an initial public offering of its internet-of-things unit COSMOPlat, people familiar with the matter said.

Haier is working with China International Capital Corp and HSBC Holdings Plc on a potential share sale that may take place in the Hong Kong Special Administrative Region next year, according to the people, who asked not to be identified because the deliberations are private. Haier could seek to raise about $500 million from a COSMOPlat IPO, the people said.

Considerations are ongoing and details such as size and timing could change, they added.

Representatives for Qingdao-based Haier and CICC didn’t respond to requests seeking comment, while HSBC declined to comment.

COSMOPlat provides services to industries such as manufacturing, electronics, molds, textiles and chemicals, according to its website. It also covers areas including smart supply chains, procurement and manufacturing, as well as corporate applications.

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First-time share sale proceeds in the HKSAR have surpassed $24 billion in 2025, a four-year high, data compiled by Bloomberg show.

Founded on the Chinese mainland in the 1980s, Haier owns several brands and makes home appliances such as refrigerators and freezers, washing machines, air conditioners and water heaters.