New stock news | Bojiang Holding's Hong Kong IPO prospectus fails Company is China's second largest private equity fund manager focusing on serving high net worth individuals

Brother Holdings Limited (hereinafter referred to as: Brother Holdings) submitted its Hong Kong stock prospectus on December 27, 2024, which expired 6 months later on December 27. When submitting the prospectus, EB SECURITIES International and Deutsche Bank acted as joint sponsors. According to the prospectus, Brother Holdings is a private equity fund manager focused on serving high net worth individuals and empowering China Hi-Tech Group tech companies. From May 18, 2016 (the date the company's first privately offered equity fund was registered) to December 31, 2023, the total assets under management increased significantly from 100 million RMB to approximately 10.2 billion RMB. As of December 31, 2023, based on assets under management, the company is the second largest private equity fund manager in China focused on serving high net worth individuals, according to Frost & Sullivan data. Additionally, as of December 31, 2023, based on assets under management, the company is ranked first among private equity fund managers focused on serving high net worth individuals and investing in high-tech industries. As of December 31, 2023, the company managed a total of 80 funds, mainly raising funds from external investors. As of December 31, 2023, the company's funds achieved a strong overall internal rate of return of 14.7%, which is higher than the industry average of 13.5% as of December 31, 2023, according to Frost & Sullivan data. Financially, in previous performance periods, the company's revenue mainly came from: 1) fee income from fund management business; 2) investment gains or losses from investing its own funds in managed funds. For the years ended December 31, 2021, 2022, and 2023, total revenue was approximately 215 million RMB, 212 million RMB, and 155 million RMB, with net profits of approximately 99.23 million RMB, 107 million RMB, and 44.12 million RMB respectively.