New Stock News | Zhuoyue Ruix Digital's second iteration form has been listed on the Hong Kong Stock Exchange, ranking second in revenue among all companies in the Chinese higher education digital teaching market.

According to the disclosure from the Hong Kong Stock Exchange on December 11, Shanghai ZYRS Digital Technology Co., Ltd. (referred to as ZYRS Digital) has submitted its listing application to the main board of the Hong Kong Stock Exchange again, with CICC as the sole sponsor. It is reported that the company had previously submitted its application to the Hong Kong Stock Exchange on May 3 this year. According to the prospectus, ZYRS Digital is a provider of digital solutions for teaching in Chinese universities, dedicated to the development, delivery, and operation of digital educational content, digital teaching scene services, and products for universities. Its products and services cover all important aspects of teaching, learning, practice, examination, evaluation, and management. The Chinese higher education teaching digital market is highly fragmented. According to data from Frost & Sullivan, as of 2023 revenue, the top five companies hold a total market share of 12.6%. Chinese higher education institutions include universities and vocational colleges. According to Frost & Sullivan data, in 2023, ZYRS Digital ranked second in terms of revenue among all companies in the Chinese higher education teaching digital market, with a market share of 3.4%; and ranked first in terms of revenue among all companies in the Chinese higher education digital teaching content production market, with a market share of 6.2%. During the reporting period, ZYRS Digital had developed over 33,000 digital courses, covering 12 subject categories and 92 majors approved by the Ministry of Education. The company has 513 digital courses that have been rated as gold courses in the Ministry of Education's first and second batch of national first-class undergraduate course certifications and vocational education national online fine course selection. It ranks first among the top five participants in the Chinese higher education teaching digital market in terms of revenue. As of June 30, 2024, ZYRS Digital has 240 customer service and support centers in 93 cities, covering most provinces, cities, and autonomous regions in China. In terms of revenue, ZYRS Digital's main income comes from two types of services and products, namely digital teaching content services and products, and digital teaching environment services and products. In the digital teaching content services and products segment, the company launched virtual simulation development in 2020 and knowledge graph development in 2023 to help customers provide more interactive, engaging, and personalized learning experiences for their students. ZYRS Digital's digital teaching content services and products cover 12 subject categories and 92 majors approved by the Ministry of Education. The full range of digital teaching environment services and products (including cloud LMS (learning management system) and digital classrooms) aims to assist higher education institutions in establishing efficient and integrated digital environments (whether online or offline). Financially, in the six months ended June 30, 2021, 2022, 2023, and 2024, the company's revenue was RMB 417 million, RMB 400 million, RMB 653 million, and RMB 241 million, respectively. During the same period, the company's gross profit was RMB 213 million, RMB 177 million, RMB 396 million, and RMB 111 million, respectively. According to ZYRS Digital's prospectus, if it fails to improve and enhance the features, performance, reliability, design, security, and scalability of its services and products to keep pace with technological developments and meet the ever-changing needs of customers, it may have a significant adverse impact on the company's business and operating performance.