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New Stock News | Lemo Delivery has ranked first in the trading volume among intelligent massage service providers in Mainland China on the Hong Kong Stock Exchange from 2021 to 2023.

According to the disclosure by the Hong Kong Stock Exchange on January 21, Fujian LeMo Wellness Technology Co., Ltd. (referred to as "LeMo") has submitted its listing application to the main board of the Hong Kong Stock Exchange, with China Securities Co., Ltd. International and Shenwan Hongyuan Group Hong Kong as the joint sponsors. The prospectus shows that LeMo is a leading provider of intelligent massage services in mainland China. According to data from Frost & Sullivan, for the three consecutive years from 2021 to 2023, based on transaction volume, the company ranked first among all intelligent massage service providers in mainland China, with market shares of 29.4%, 33.9%, and 37.3% respectively, leading the market. The company launched the "LeMo Bar" brand in 2016, combining innovative intelligent massage technology and data-driven customized services with traditional device massage to provide consumers with more relaxing, convenient, and professional intelligent massage services in commercial complexes, cinemas, transportation hubs (including airports, high-speed rail stations, etc.) and other consumption scenarios. As of the latest feasible date, LeMo has established over 45,000 service points for intelligent massage services, deployed over 500,000 intelligent massage devices, covering 31 provincial-level administrative regions and 339 cities in mainland China. The company's service network expanded from 21,727 service points as of December 31, 2022 to 32,141 service points as of December 31, 2023, a growth of approximately 47.9%, and further expanded to over 45,000 service points as of the latest feasible date. In terms of consumer coverage, the company has a strong market position, with a cumulative identifiable service population of over 150 million and over 2.8 million registered members as of the latest feasible date. LeMo pioneered the concept of "intelligent massage space," transforming traditional device massage into intelligent massage space. The intelligent massage space is a multidimensional intelligent massage zone that combines customized massage services provided by advanced intelligent massage devices with relaxing and leisure experiences tailored to different consumer contexts. By applying innovative technology and multi-dimensional spatial design, the company provides consumers with a more relaxing, convenient, and professional intelligent massage service experience. In terms of innovative technology applications, the company's intelligent massage space is remotely connected to the company's digital platform LMB Links through third-party cloud services to achieve remote and digitized monitoring of network operations. Additionally, the company's intelligent massage space matches corresponding styles of intelligent massage devices based on different consumer needs. Financially, for the fiscal years 2022, 2023, and the nine months ended September 30, 2023, LeMo achieved revenues of approximately RMB 330 million, RMB 587 million, RMB 442 million, and RMB 615 million respectively. During the same periods, the net profits and comprehensive income totals were RMB 6.481 million, RMB 87.34 million, RMB 92.734 million, and RMB 93.11 million.
5 h ago

New stock news | Pacific Thermostatics (688506.SH) will submit its financial report to the Hong Kong Stock Exchange for the first three quarters of 2024, with a profit of 40.65 billion yuan.

According to the disclosure of the Hong Kong Stock Exchange on January 21, Sichuan Bioko Pharmaceutical Co., Ltd. (688506.SH) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with Goldman Sachs, Morgan Stanley, and CITIC SEC as its joint sponsors. The company had submitted a listing application to the Hong Kong Stock Exchange on July 10, 2024. According to the prospectus, Bioko is a comprehensive pharmaceutical group operating two main businesses: innovative biopharmaceutical business and generic drugs and traditional Chinese medicine business. Ten years ago in 2014, the company established SystImmune in Seattle, USA, and began developing BL-B01D1, the world's first and only ADC with EGFRHER3 bispecific antibody in clinical stage; ten years later, the company reached a total of 8.4 billion US dollars, with an upfront payment of 800 million US dollars, with BMS on BL-B01D1, the largest global strategic licensing and cooperation transaction in the field of ADC to date. Over the past ten years in the United States, Bioko has built an innovative ADC drug development platform, successfully developing eight innovative ADC candidate drugs in the clinical stage pipeline, including BL-B01D1, and conducted about 50 clinical studies, including eight back-line III clinical trials and 12 first-line II clinical trials, as well as a multi-specific T cell connector platform, successfully developing four GNC innovative multi-specific antibody drugs in the clinical stage pipeline, including GNC-077, and conducting 13 clinical studies. Bioko's generic drugs and traditional Chinese medicine business product portfolio covers anesthesia, parenteral nutrition, anti-infection, pediatric and other treatment areas. In the performance record period, the company's income comes from the sales of more than 100 specifications of 29 approved drugs, including 25 generic drug products and four traditional Chinese medicine products. These products play a crucial role in providing funding for the company's innovative drug development. As of the last practicable date (January 15, 2025), all of Bioko's innovative candidate drugs are still in the clinical and pre-clinical development stages. For the nine months ended September 30, 2024, the company reported revenue of approximately RMB 5.5612 billion, of which 94.2% came from license and cooperation agreements signed with BMS, and 5.8% came from sales of generic drugs and traditional Chinese medicine. Bioko's revenue in 2021, 2022, and 2023, as well as part of the revenue for the nine months ended September 30, 2024, were all derived from the sales of generic drugs and traditional Chinese medicine products. The following table outlines the company's main products that were already on the market as of the last practicable date: Regarding the innovative biopharmaceutical business, BL-B01D1 is the world's first and only EGFRHER3 bispecific antibody ADC in clinical stage. While developing BL-B01D1, the company established a strong technical platform: (1) the SEBA (Specificity Enhancement Bispecific Antibody) platform, devoted to continuous innovation in antibody discovery and engineering modifications, protected by a global patent portfolio. (2) Established an effective payload platform with different mechanisms to effectively counteract tumor heterogeneity and efficiently kill tumors on a large scale. (3) Established a connector and payload coupling platform capable of stably linking different numbers of payloads to antibodies. (4) The innovative ADC drug development platform has end-to-end independent development capabilities. Financially, for the years 2021, 2022, 2023, and the nine months ended September 30, 2024, the company reported revenues of approximately RMB 795 million, RMB 702 million, RMB 560 million, and RMB 5.661 billion respectively, with net profits for the year being approximately -108 million, -282 million, -780 million, and 4.065 billion RMB. According to Bioko's prospectus, the company's business and prospects largely depend on the success of its candidate drugs (including BL-B01D1). If the company fails to successfully complete the clinical development of candidate drugs, obtain regulatory approval, or achieve commercialization, or if the company encounters significant delays or cost overruns in any of the above matters, the company's business and prospects may be significantly adversely affected.
5 h ago

New stock news | Baoji Pharmaceutical submitted documents to the Hong Kong Stock Exchange, focusing on the research and development of large-scale biopharmaceuticals.

According to the disclosure of the Hong Kong Stock Exchange on January 21st, Shanghai Baotai Pharmaceutical Co., Ltd. (referred to as "Baotai Pharmaceutical") has submitted its listing application to the Hong Kong Stock Exchange main board, with CITIC SEC and HAITONG INT'L as joint sponsors. The prospectus shows that Baotai Pharmaceutical is a pioneer in China in the development and provision of difficult-to-produce recombinant biopharmaceuticals with the assistance of synthetic biology technology to meet the clinical needs. Since its establishment in 2019, the company has been focusing on the research and development of large-category biopharmaceuticals, aiming to upgrade existing treatment methods by replacing biochemical products derived from animal organs, blood, or urine, or in other ways to improve the treatment standards. Baotai Pharmaceutical has established a proprietary technological platform based on unique chassis cell modification technology combined with advanced drug design and biomanufacturing capabilities. The company's technological platform enables it to take a leading position in the development of candidate drugs in four strategic therapeutic areas, with a combined potential market size exceeding 50 billion RMB by 2033 according to Frost & Sullivan: (i) high-volume subcutaneous drug delivery, (ii) antibody-mediated autoimmune diseases, (iii) adjuvant reproductive drugs, and (iv) revolutionary products replacing traditional biochemical products with recombinant biopharmaceuticals. As of the latest practicable date, Baotai Pharmaceutical has built a differentiated research and development pipeline covering the above-mentioned four therapeutic areas, consisting of five investigational drugs in clinical stages (including the company's three core products KJ017, KJ103, and SJ02) and seven preclinical products. Among the core products, (i) KJ017 is a highly glycosylated recombinant human hyaluronidase developed for fast, high-volume subcutaneous drug delivery in combination therapy; (ii) KJ103 is an innovative recombinant immunoglobulin G (IgG) degrading enzyme for treating various immunological diseases and conditions driven by pathological IgG activity. Currently, Baotai Pharmaceutical is conducting clinical trials at different stages to evaluate the efficacy of KJ103 in areas such as kidney transplant desensitization, anti-glomerular basement membrane disease (anti-GBM disease), and Guillain-Barr syndrome (GBS); and (iii) SJ02 is a long-acting recombinant human follicle-stimulating hormone-CTP fusion protein (FSH-CTP) intended for controlled ovarian stimulation (COS) in combination with a gonadotropin-releasing hormone (GnRH) antagonist. All core products of the company have entered late-stage clinical trials or NDA registration stage in China. In addition, the company is actively advancing several other pipeline products, especially innovative recombinant biologics as transformative alternatives to traditional biochemical extract medications, including KJ101 and BJ044. In terms of finances, for the fiscal year 2023, and the nine months ended September 30, 2023 and 2024, Baotai Pharmaceutical achieved revenues of approximately 69.3 million, 50.43 million, and 44.41 million RMB respectively. During the same period, the company incurred comprehensive losses totaling 160 million, 113 million, and 263 million RMB respectively.
5 h ago

New stock news | Ying En Bio is listed on the Hong Kong stock market and has been approved by the China Securities Regulatory Commission.

On January 21, the International Cooperation Department of the China Securities Regulatory Commission issued a notice on the overseas issuance and listing filing of Duality Biotherapeutics, Inc. The company plans to issue no more than 26,106,596 shares of overseas listed ordinary shares and list on the Hong Kong Stock Exchange. According to the disclosure of the Hong Kong Stock Exchange on August 26, 2024, Duality Biotherapeutics submitted a listing application to the main board of the Hong Kong Stock Exchange, with Morgan Stanley, Jefferies, and CITIC Securities as joint sponsors. According to the prospectus, Duality Biotherapeutics is a global leader in the field of Antibody-Drug Conjugates (ADCs), dedicated to developing a new generation of innovative ADC drugs for patients with cancer and autoimmune diseases. The company has established a variety of differentiated pipelines using its own ADC technology platform and is advancing these pipelines with the goal of revolutionizing cancer treatment and providing therapies that can significantly improve treatment outcomes for patients worldwide. According to Duality Biotherapeutics, since its establishment in 2019, the company has built an innovative and differentiated pipeline consisting of 12 ADC candidate drugs developed in-house, including six clinical-stage ADCs with potential in indications with unmet clinical needs, all of which rank among the global leaders in terms of overall or major indication development progress according to Frost & Sullivan; two next-generation bispecific ADCs (BsADCs) and one ADC for treating autoimmune diseases (selfimmune ADC) are expected to enter clinical stages from 2024 to 2026; and several other preclinical ADCs.
21/01/2025

New Stock News | BenQ Hospital's Listing in Hong Kong Approved by China Securities Regulatory Commission

On January 21, the China Securities Regulatory Commission issued a notice on the filing for overseas issuance and listing of BenQ BM Holding Cayman Corp. (BenQ Hospital Group Limited). BenQ Hospital plans to issue no more than 93,895,500 shares of overseas listed common stock and list on the Hong Kong Stock Exchange. According to the prospectus submitted at the time of filing, BenQ Hospital, drawing on advanced hospital operation and management experience from Taiwan, is a pioneer and leader in private-profit comprehensive hospital groups in mainland China. The company currently owns and operates two comprehensive hospitals. According to Frost & Sullivan data, based on revenue generated from medical services in 2022, BenQ Hospital is the largest private-profit comprehensive hospital group in the East China region, with revenue surpassing the combined total of the second and third. Based on the same criteria, among all private-profit comprehensive hospital groups in the country, BenQ Hospital ranks fifth and is the only group among the top five whose hospitals are all third-level hospitals. Based on average revenue per registered bed in 2022, BenQ Hospital ranks first among all private-profit comprehensive hospital groups in mainland China. As of December 31, 2023, the total operating area of BenQ Hospital's two hospitals is approximately 380,000 square meters, with a total of 1,850 registered beds and a doctor team of over 900 people, including 35 experts from Taiwan and overseas. In 2023, the company had over 2 million outpatient visits and performed over 20,000 inpatient surgeries. BenQ Hospital operates two comprehensive hospitals, Nanjing BenQ Hospital and Suzhou BenQ Hospital. In terms of finances, in the financial years of 2021, 2022, and 2023, the company achieved operating revenues of approximately RMB 2.224 billion, 2.336 billion, and 2.688 billion respectively. Meanwhile, the company's annual profits were approximately RMB 69.075 million, 89.55 million, and 167 million respectively during the same period.
21/01/2025

New Stock Preview | As bicycles become more expensive, will the leading player in the industry, Giant Manufacturing Co., Ltd., be able to successfully launch an IPO by keeping up with the industry's pace?

Leading companies in the folding bike industry have begun to make a "sprint" towards the Hong Kong Stock Exchange. Recently, Dahon Technology (Shenzhen) Co., Ltd. (hereinafter referred to as "Dahon Technology") submitted an application for listing to the main board of the Hong Kong Stock Exchange. Dahon Technology is a highly influential folding bike company in the industry, and its Dahon brand is well-known. According to Zuoshiping Consulting data, based on retail volume in 2023, Dahon ranked first in the folding bike industry in mainland China and globally, with market shares of 21.1% and 5.6% respectively. With its outstanding market position, not only that, but Dahon Technology's product sales are still rapidly growing. In the first 9 months of 2024, the company sold 175,200 bikes, a 51.5% increase compared to the same period last year. Thanks to its strong sales performance, in the first three quarters of last year, Dahon Technology's revenue and net profit reached 352 million yuan and 46 million yuan respectively, representing increases of 58.7% and 74.1% year-on-year. In the process of "marching forward", it seems that Dahon Technology's pricing strategy is an important winning weapon. It can be noted that in the past period, the average selling price of Dahon Technology's products has increased from 1,593 yuan in 2022 to 1,966 yuan in the first 9 months of 2024, an increase of over 20%. Combining with sales data, the increase in product prices not only did not discourage consumers, but also led Dahon Technology to achieve greater commercial success. However, it is worth mentioning that although Dahon Technology claims to be the world's leading folding bike company, the majority of its revenue comes from the domestic market. Especially after 2023, with the vigorous development of the domestic market, Dahon Technology's scale has advanced, but at the same time its overseas revenue has shrunk to less than 10%. Although the rapidly growing Chinese market is promising, even by optimistic estimates, the market size of folding bikes in mainland China is only about 3.8 billion yuan by 2028. Considering that Dahon Technology intends to enter a larger capital stage, the company may need to achieve further success in a broader market in order to gain broader investor recognition. Adding high-end products and timing the pace of industry development? From a global perspective, mainland China, the United States, and Europe are the three major sales regions of the global folding bike industry, accounting for 25.2%, 9%, and 8.6% of global demand respectively. Among them, mainland China is undoubtedly the most important market for folding bikes globally, with retail volume leading the world in 2023 and a compound annual growth rate of 19.1% from 2018 to 2023. For Dahon Technology, which was born and grown in China, it naturally has the advantage of being close to the water when looking from a global perspective. In fact, in the rapid expansion of the folding bike industry in mainland China in recent years, Dahon Technology has indeed seized the opportunity for development. Data shows that from 2022 to the first 9 months of 2024, Dahon Technology's revenue was 254 million yuan, 300 million yuan, and 352 million yuan respectively, with net profits of 31.43 million yuan, 34.85 million yuan, and 45.83 million yuan, showing a significant increase in core financial data. Looking at the market, the strong growth momentum in the Chinese market is the key to Dahon Technology's financial performance improvement. In the first 9 months of 2024, the company's revenue generated from domestic sales reached 329 million yuan, accounting for 93.4% of the overall revenue, with a year-on-year increase of nearly 60%, significantly higher than the growth rate of overseas sales of 44.4% during the same period. For comparison, in the whole of 2022, Dahon Technology's revenue from domestic market sales was 198 million yuan, accounting for 77.9%, which means that the share of revenue from the domestic market in the first three quarters of last year was 15.5 percentage points higher than in 2022. If the favorable industry environment has brought "favorable winds" to Dahon Technology, then the company's bet on the mid-to-high-end route and pricing strategy may provide a key DRIVE for its rapid development. It is understood that in recent years, more and more people in China are choosing specialized bicycles and mid-to-high-end bicycles, which has pushed up the production of bikes priced at 1,000 yuan and above. The compound annual growth rate of bikes priced at 1,000 yuan and above from 2018 to 2023 was 7.7%, and it is expected to increase to double digits in the coming years. As a leading company in the folding bike industry, Dahon Technology has keenly observed the above-mentioned trend and promptly responded to customer demand changes by adding more mid-to-high-end products. According to calculations, the share of mid-to-high-end products in Dahon Technology's product portfolio increased from 44.9% in 2022 to 60.9% the following year, and reached a new high of 69.5% in the first 9 months of 2024. At the same time as the continuous increase in the share of mid-to-high-end products, the average selling price of Dahon Technology's products has also risen. In the first 9 months of 2024, the average selling prices of Dahon Technology's mass market, mid-range, and high-end products were 1,292 yuan, 2,129 yuan, and 3,916 yuan respectively, compared to 1,128 yuan, 1,991 yuan, and 3,761 yuan in 2022. Perhaps it is also thanks to this, that Dahon Technology's profitability has been strengthened to a certain extent. From 2022 to the first 9 months of 2024, the company's comprehensive gross profit margin was 30.7%, 33.8%, and 33.5% respectively, showing a fluctuating upward trend. Will global breakthrough or long-term growth be the winner? From a holistic industry perspective, folding bikes can only be considered a relatively "mini" segment in the billion-dollar bike market. According to industry data, the global bicycle industry's market size based on retail value in 2023 was 374 billion yuan, while the market size of folding bikes in the same period was 168 billion yuan, accounting for less than 5% of the former. In addition, as mentioned earlier, mainland China is the largest single market for folding bikes in terms of retail volume, accounting for one-fourth of global demand. In a sense, the folding bike sector can be considered as "those who get the Chinese market get the world". Indeed, in 2023, Dahon Technology sold about 149,000 folding bikes in mainland China, with a market share of 21.1%, while the sales of the industry runner-up in this market during the same period were only 97,000 units, which means that Dahon Technology has achieved a clear lead. HoweverLooking back at the global market, the sales volumes of Da Heng Ke Gong in 2023 reached 157,000 vehicles. While still in first place, the difference in sales between them and the second place is actually less than 70,000 vehicles. Cross-referencing the data from both groups, it is easy to see that outside of mainland China, Da Heng Ke Gong does not have any significant advantage compared to the top competitors in the industry.Looking at the development trend of the next stage, the market size of folding bicycles in mainland China is expected to maintain a high-growth momentum and reach 3.8 billion yuan by 2028, with a CAGR of approximately 22.1% from 2023 to 2028. It is also driven by the market in mainland China that the global folding bicycle market from 2023 to 2028 will continue to grow at a high speed with a CAGR of 14.8%, reaching a market size of 33.5 billion yuan by 2028. Although the growth rate of the mainland China market is faster, the size of a single market is limited. Considering that Da Hang Ke Gong's market share in the domestic market has exceeded 20%, for top companies like Da Hang Ke Gong, if they want to make further progress, achieving global breakthroughs in their business is essentially a "must-answered question." According to the statements in the prospectus, Da Hang Ke Gong is indeed planning to expand its business in Southeast Asia, South America, North America, and Europe, and to expand its global influence through various measures. However, this also means that the company will have to compete closely with local brands in Europe and America, and only time will tell how effective this strategy will be. Relying on deep cultivation of the mainland China market, increasing investment in high-end products, and continuous price increases, Da Hang Ke Gong has achieved a "growth acceleration" in the field of folding bicycles. However, in the face of the discerning capital market, past performance alone is obviously not enough to impress investors. As the road ahead is filled with opportunities and challenges, the growth certainty and resilience of Da Hang Ke Gong will be tested by time, and GMTEight will continue to monitor the situation.
21/01/2025

New Stock News | ChangXin Storage is considering an earliest possible Hong Kong IPO this year.

According to media reports, Changxin Storage is considering listing on the Hong Kong stock market as early as this year. Previously, due to market volatility, uncertainties in the overall semiconductor manufacturing industry, and other factors, Changxin Storage chose to postpone its IPO plans. Information shows that Changxin Storage is an integrated memory manufacturer founded on November 16, 2017, headquartered in Hefei. The company focuses on the design, development, production, and sales of dynamic random-access memory chips (DRAM), which are used in personal computers, servers, smartphones, and other devices. Public data shows that in 2022, Changxin Storage achieved an operating income of around 8 billion yuan. Changxin Storage's competitors include global leading memory chip manufacturers such as Samsung Electronics, SK Hynix, and Micron Technology. If Changxin Storage successfully IPOs, it will provide more funds to expand production capacity and research and development investment, narrowing the technology gap with international giants. As of now, Changxin Storage has completed multiple rounds of financing, with participation from investors such as GigaDevice Semiconductor Inc., Changxin Integration, Hefei Industrial Investment, and others. Its shareholders are mostly well-known domestic and foreign investment institutions and industry players, including Alibaba, Xiaomi, Tencent, GigaDevice Semiconductor Inc., China's National Fund, China Merchants Capital, Midea Ventures, and others.
21/01/2025

New stock news | GEM Co., Ltd. (002340.SZ) plans to list in Hong Kong, it is reported that the entry work for the Hong Kong stock issuance is expected to start in April.

On January 20th, GEM Co., Ltd. (002340.SZ) announced its intention to issue shares (H shares) overseas and list on the Hong Kong Stock Exchange in China. The company's board of directors has authorized the management to commence the preliminary preparations for the H share listing. According to media reports, the listing plan is mainly targeted at overseas markets, with the issuance expected to begin in April. Information shows that GEM Co., Ltd., established in 2001, is a leading waste recycling industry group and a core supplier in the global new energy industry and a leading enterprise in China's circular economy. The company's main business is in the recycling of waste resources and comprehensive utilization industry and the new energy industry, forming a dual-track business model of "urban mining + new energy material manufacturing". In the field of urban mining, the company recycles waste power batteries, electronic waste, scrapped cars, waste plastics, and nickel-cobalt-lithium-tungsten strategic resources, mainly re-manufacturing nickel-cobalt-lithium-tungsten, gold, silver, platinum, palladium scarce resources, ultra-fine cobalt-nickel-tungsten powders, and modified plastics; in the new energy field, the company manufactures ternary precursors for power batteries, ternary positive electrode materials, and cobalt trioxide materials for 3C digital batteries, making it a leading company in the world's new energy supply chain. The quarterly report for the third quarter of 2024 released by GEM Co., Ltd. shows that in the first three quarters, the company achieved operating income of RMB 24.872 billion, a year-on-year increase of 22.96%. Net profit attributable to the company's shareholders was RMB 9.04 billion, a year-on-year increase of 65.06%. Net profit attributable to the company's shareholders excluding non-recurring gains and losses was RMB 8 billion, a year-on-year increase of 72.55%.
21/01/2025

New stock news | Daheing Mechanical Industry submits application to Hong Kong Stock Exchange, ranking first in the foldable bicycle industry in Mainland China and globally in 2023.

According to the disclosure by the Hong Kong Stock Exchange on January 20th, Dahon Technology (Shenzhen) Co., Ltd. (referred to as "Dahon Technology") has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with China Securities Co., Ltd. International as the exclusive sponsor. The prospectus shows that Dahon Technology is a globally leading and rapidly expanding folding bicycle company. The Dahon brand is one of the most representative brands in the folding bicycle industry, founded by Dr. David T. Hon in 1982 with the aim of creating sustainable urban mobility solutions through innovative engineering technology. With over 40 years of development, the Dahon brand is renowned for its superb technology, groundbreaking innovation, precision craftsmanship, pursuit of excellent performance, and meticulous product quality. According to data from Zou Shi Consultancy, based on retail sales volume in 2023, the company ranks first in both the mainland China and global folding bicycle industry, with market shares of 21.1% and 5.6% respectively. With popular products like the award-winning P8 model as its cornerstone, the company has developed a comprehensive lineup of bicycle products, including newly developed models, to meet the various needs of different types of consumers such as urban commuters, adventure seekers, and competitive riders. Throughout the company's history, its product portfolio has evolved from folding bicycles to other types of bicycles, including road bikes, mountain bikes, children's bikes, and electric assist bikes, reflecting the company's commitment to innovation and response to market demands. As of September 30, 2024, the company offers over 70 bicycle models. The company has established a comprehensive and efficient sales and distribution network, spanning offline and online channels, continuously increasing product coverage and penetration rate, covering mainland China as well as 25 other countries and regions including Southeast Asia, the United States, and Europe. In China, as of September 30, 2024, the company has collaborated with 38 distributors across more than 30 provincial-level administrative regions, covering over 650 retail stores. The company has also expanded to online channels, including major e-commerce platforms and social media platforms in mainland China such as JD, Tmall, and Douyin. During the past performance period, the company's online direct sales revenue increased significantly from 14.1 million RMB in 2022 to 58.1 million RMB in 2023, with a growth rate of 312.1%. On the financial front, in the fiscal years 2022, 2023, and the 9 months ending on September 30, 2024, Dahon Technology achieved revenues of approximately 254 million RMB, 300 million RMB, 222 million RMB, and 352 million RMB respectively. During the same period, the net profit and comprehensive income totaled 31.434 million RMB, 34.85 million RMB, 26.308 million RMB, and 45.838 million RMB respectively.
21/01/2025

New stock news | Anjoy Foods Group (603345.SH) submits application to Hong Kong Stock Exchange, ranking first in China's frozen and prepared food market.

According to the disclosure by the Hong Kong Stock Exchange on January 20, Anjoy Foods Group Limited (603345.SH) (hereinafter referred to as "Anjoy Foods Group") has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with CICC and Goldman Sachs as its joint sponsors. The prospectus shows that Anjoy Foods Group belongs to the frozen food industry, and the company is committed to providing delicious, high-quality and convenient food in various consumption scenarios such as home, restaurants, and dining out. According to Frost & Sullivan data, based on 2023 revenue, the company is the largest frozen food company in China, with a market share of 6.2%. In 2023, the company ranked first in the Chinese frozen prepared food market with a market share of 12.7%, which is about four times that of the second place; the company ranked first in the Chinese frozen dish products market with a market share of 4.9%, surpassing the market share of the second to fourth places in that market. In terms of products, leveraging the company's strong product development capabilities, the company can continuously introduce industry-leading flagship products. In 2023, the company had 37 flagship products with revenues exceeding RMB 100 million. The "Fresh Lock" series launched by the company in 2019 is a landmark example of the company's product development. This product series uses small "fresh lock" packaging designed for individual and household consumers, successfully expanding the company's influence in the retail market. Since its launch, the performance of the "Fresh Lock" series has been outstanding, with annual sales exceeding RMB 1 billion starting from 2022 and maintaining strong growth momentum; its revenue growth reached 17.6% from 2022 to 2023, and then increased by 23.3% year-on-year in the nine months ended September 30, 2024, while the series maintained stable and impressive profitability. The company's customers are mainly distributors, key account customers, direct sales companies, new retail platforms, and individual end customers. In 2022, 2023, and the nine months ended September 30, 2024, sales revenue from the top five customers accounted for 8.0%, 6.4%, and 6.7% of the total company revenue respectively, and sales revenue from the largest customer accounted for 2.3 %, 1.9%, and 1.8% of the total revenue during the same period. The competition in China's frozen food industry is intense and fragmented, with the top five players holding a combined market share of approximately 15.0% in 2023 in terms of revenue. The company competes with many competitors in the industry, especially in the frozen prepared food, frozen dish products, and frozen noodles and rice products markets. With a continuously expanding and nationally recognized product portfolio, a nationwide sales network that covers all regions and channels, and excellent digital capabilities to enhance operational efficiency, the company believes it is well prepared to stand out in the industry competition and maintain a leading position in the frozen food industry. Financially, in the fiscal years 2022, 2023, and January-September 2024, Anjoy Foods Group recorded revenues of approximately RMB 12.106 billion, RMB 13.965 billion, and RMB 10.995 billion, respectively, with profits of approximately RMB 1.118 billion, RMB 1.501 billion, and RMB 1.062 billion during the same period.
20/01/2025
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