New Stocks News | Sinometrics Technology's Hong Kong Stock IPO Prospectus Invalidated as Real-Time Data Infrastructure and Analysis Supplier

The Hong Kong IPO prospectus submitted by Shenzhen Xunce Technology Co., Ltd. on March 12, 2024 expired after 6 months on September 12. CICC was the exclusive sponsor when the prospectus was submitted. The prospectus submitted at the time showed that Xunce Technology is a leading real-time data infrastructure and analytics provider in China. The core of the company's product portfolio is data infrastructure, a cloud-native unified data platform that can collect, clean, manage, analyze, and govern heterogeneous data from multiple sources, deployed in customers' self-managed clouds or on-premises systems. Built on top of this is the company's data analytics application layer, which utilizes the underlying infrastructure to generate insights, make predictions, or provide data for business decisions. The company provides real-time solutions covering data infrastructure and data analysis for enterprises in various industries, with a strategic focus on asset management companies. According to Frost & Sullivan's data, in 2022, the company ranked fourth in China's real-time data infrastructure and analysis market by revenue. In 2023, the company's clients will include diversified industries beyond asset management, including renewable energy, retail, and telecommunications, covering the three major state-owned telecom operators in China. Through continuous enhancement of the company's next-generation technology, the company believes it will be able to provide the most remarkable real-time data infrastructure for large-scale digitalization projects in different industries in the foreseeable future. Financially, in the fiscal years 2021, 2022, and 2023, the company's revenues were approximately RMB 120 million, 288 million, and 530 million respectively; during the same period, the company's annual losses were approximately RMB 119 million, 96.512 million, and 63.391 million respectively.