New stock news | Xunce Technology filed a second application with the Hong Kong Stock Exchange and ranked fourth in China's real-time data infrastructure and analysis market.

On September 12th, Shenzhen Xunce Technology Co., Ltd. submitted its application to the main board of the Hong Kong Stock Exchange, with CICC acting as its exclusive sponsor. The company had previously submitted an application for listing to the Hong Kong Stock Exchange on March 12th of this year. According to the prospectus, Xunce Technology is a well-known supplier of real-time data infrastructure and analytics solutions in China. The company provides real-time information technology solutions covering data infrastructure and data analysis for enterprises across various industries, with a strategic focus on asset managers. The company's system integration services enhance its solutions, ensuring seamless deployment in customers' self-managed cloud environments or on-premises computing systems. Data infrastructure is classified into real-time and non-real-time based on processing mechanisms and efficiencies. These classifications meet different data processing needs and are not interchangeable. Xunce Technology's product portfolio is all in real-time, and based on revenue projections for 2023, the company ranks fourth in the Chinese real-time data infrastructure and analytics market with a market share of 3.4%. The core of Xunce Technology's product portfolio is real-time data infrastructure, a cloud-native unified data platform that can collect, clean, manage, analyze, and govern heterogeneous data from multiple sources in milliseconds to seconds. This means that once data is collected, it can be processed almost immediately and used for decision-making, analysis, or further action. Built on this foundation is the company's data analytics application layer, which leverages the underlying infrastructure to generate insights, make predictions, or provide data for business decision-making. Xunce Technology started in the asset management industry. Based on revenue projections for 2023, the company ranks first in the Chinese asset management industry in terms of real-time data infrastructure and analytics market, with a market share exceeding 13%. The company's solutions help asset managers optimize various aspects of their asset management lifecycle, from investment decisions, portfolio monitoring and performance analysis, order execution, valuation, risk management, to compliance. Xunce Technology's existing customer base mainly consists of institutional asset managers. The company has established a strong and highly engaged customer base by providing a range of artificial intelligence-enabled solutions to asset managers. The company's customers cover 100% of the top 10 asset managers in China based on group-based assets under management at the end of 2022, including insurance companies, mutual funds, bank asset management departments, securities firms, corporate finance, family offices, high-net-worth individuals, and more. The company has successfully expanded its solutions to diversified industries beyond asset management, mainly including financial services (excluding asset management), urban management, and telecommunications, covering China's three major state-owned telecom operators. In terms of finances, the company's revenue was approximately RMB 120 million, RMB 288 million, RMB 530 million, and RMB 75 million for the years 2021, 2022, 2023, and the three months ended March 31, 2024, respectively. During the same periods, the company's net losses were approximately RMB 119 million, RMB 96.512 million, RMB 63.391 million, and RMB 83.851 million. According to Xunce Technology's disclosure in the prospectus, operating in an emerging and fast-growing industry, the company's success depends on its continuous innovation and ability to predict and respond to industry trends and changing customer needs in a cost-effective manner. If the company fails to accurately predict, prepare for, and timely respond to industry changes and evolving customer demands, its business, financial condition, operational performance, and prospects will be significantly adversely affected.