New stock information | Xipuni Port Stock IPO and domestic unlisted shares "fully circulated" approved for record

On June 6, the International Cooperation Department of the China Securities Regulatory Commission issued the "Notice on the Filing for Overseas Issuance and Listing of Shenzhen Hipni Precision Technology Co., Ltd and the Full Circulation of Unlisted Shares in the Domestic Market". The company plans to issue no more than 18,486,250 shares of ordinary shares for overseas listing and listing on the Hong Kong Stock Exchange. 22 shareholders of the company plan to convert a total of 48,225,000 shares of unlisted domestic shares into overseas listed shares, and list them on the Hong Kong Stock Exchange for circulation. The prospectus shows that Hipni is a leading Chinese designer, manufacturer, and brand owner of luxury metal watches. During the previous reporting period, the company's revenue mainly came from the sales of luxury metal watches designed and manufactured under its flagship independent brand "HIPINE". The company also generates revenue by acting as an ODM manufacturer for third-party domestic jewelry brands and wholesalers, including developing and producing OEM luxury metal watches and accessories and providing subcontracting services. During the previous reporting period, the company's ODM customers included several well-known domestic jewelry brands such as Lao Feng Xiang, China Jewelry, and Chow Tai Seng Jewellery, with whom the company has established long-term stable supply relationships.