New Stock News | Xinhua Xinnian Second Time Submitting Application to Hong Kong Stock Exchange, Ranked Fourth in Japan's Software Technology Services and Solutions Market

According to the disclosure by the Hong Kong Stock Exchange on August 22, Syntrust Technology International Limited (referred to as Syntrust) has submitted an application for listing on the Hong Kong Stock Exchange Main Board, with CITIC SEC and Daiwa as joint sponsors. This is the company's second filing this year, as the company previously submitted a listing application to the Hong Kong Stock Exchange on January 24. According to the prospectus, Syntrust is a software technology service and product provider mainly engaged in providing customized software development services to Japanese clients. Based on data from Zhuoshi Consulting, the company ranks fourth among service providers in the Japanese software technology services and solutions market based on revenue from clients located in Japan and operated in Japan by 2024, being the largest provider of software technology services and solutions from China to the Japanese market. According to data from Zhuoshi Consulting, as of December 31, 2024, over half of the companies ranked in the top thirty in the Japanese information service industry (based on revenue from Japanese IT services) are long-term clients of the company, and the company has been cooperating with the top five client groups for over 15 years. Based on revenue in 2024, the company's market share in the Japanese software technology services and solutions market is 1.7%. In terms of business model, Syntrust provides customized software development services, standardized software products and services, and application hosting services to system integrators and end customers in markets such as Japan, Hong Kong, and Southeast Asia. Japan is currently the most important overseas market for Syntrust, with a large capacity for the Japanese software technology service, product, and solution market and long-term stable growth. As of June 30, 2025, the company has served over 160 overseas clients, with over 10 core enterprise group clients, including leading companies in various industries such as Itochu Group, Daiwa Institute of Research, NEC Group, Hitachi Group, NTT DATA Group, JR Systems Integration, and TIS INTEC Group in Japan. These Japanese clients are representative of Japan's most advanced enterprises in terms of business model, revenue scale, and operational quality, leading the digital transformation in industries such as industry, finance, and utilities. Over the past decade, the retention rate of Syntrust's core clients has been at 100% and revenue from them has continued to grow consistently during the performance record period. Financially, for the six months ending on June 30 in 2022, 2023, 2024, and 2025, Syntrust's continuing operating revenues were approximately 1.632 billion yuan, 1.925 billion yuan, 1.802 billion yuan, and 978 million yuan respectively; during the same period, the annual profits were 182 million yuan, 270 million yuan, 202 million yuan, and 187 million yuan respectively. According to Syntrust's statement in the prospectus, the majority of the company's revenue depends on Japanese clients and is influenced by changes in the Japanese regulatory landscape, business environment, as well as economic, political, social conditions, and natural disasters.