New stock news | Joint information submission to the Hong Kong Stock Exchange for IT solution service provider

According to the disclosure on November 17th by the Hong Kong Stock Exchange, Henan United Information Technology Co., Ltd. (hereinafter referred to as "United Information") submitted an application to the Hong Kong Stock Exchange GEM board, with Yuexiu Financing and Huasheng Capital as its joint sponsors. United Information had previously submitted an application to the Hong Kong Stock Exchange on April 25th. According to the prospectus, United Information is an IT solution services provider dedicated to seizing opportunities brought about by market trends and providing IT solution services to customers. The company provides IT solution services to meet the requirements and needs of different customers throughout the lifecycle of IT solution services. According to the prospectus, the company's solutions are usually tailored to meet the unique needs and challenges of each customer's business. The company's IT solution services can generally be divided into three categories, namely: (i) financial IT solution services; (ii) smart city IT solution services; (iii) digital education IT solution services. As of the six months ending June 30, 2025, the company has utilized its existing business model, namely education IT solution services, and provided digital education IT solution services through an integrated solution service model, carrying out artificial intelligence-enabled digital education IT solution services ("Just-in-Time Classroom Solution Services"). The company has integrated artificial intelligence technology into its own branded hardware and software and promoted it as a comprehensive IT solution under the name "Just-in-Time Classroom" in the education IT solution services. Looking ahead, the company plans to enhance its R&D capabilities in IT solution services to better meet customer needs, seize potential market opportunities, and expand into markets with growth potential. The company's R&D plans focus on: (a) improving existing IT solution services; (b) developing new IT solution services, with a focus on digital education IT solution services, especially in the field of digital education IT solution services. The company also plans to establish new sales offices and strengthen digital sales and marketing efforts to strengthen its sales and marketing efforts to support the company's overall growth in the future. Financial Information Revenue During the previous reporting periods, the company's revenue mainly came from IT solution services, including: (i) financial IT solution services; (ii) smart city IT solution services; (iii) digital education IT solution services. The company recorded revenues of approximately RMB 148 million, RMB 238 million, and RMB 554 million for the years ending 2023, 2024, and the six months ending June 30, 2025, respectively. Yearly/Periodic Losses The company recorded losses of approximately RMB 557,000, RMB 1.33 billion, and RMB 1.89 billion for the years ending 2023, 2024, and the six months ending June 30, 2025, respectively. Gross Profit The company recorded gross profits of RMB 23.347 million, RMB 21.205 million, and RMB 8.378 million for the years ending 2023, 2024, and the six months ending June 30, 2025, respectively. Industry Overview The Chinese IT solution services industry refers to the sector that provides comprehensive IT technology solutions covering IT planning, system construction, technical support, and operations management for various entities such as governments, enterprises, and institutions during the process of digital transformation and business upgrade. Its core lies in integrating software, hardware, networks, data, and artificial intelligence resources to solve the technical problems and needs encountered by various industries in their operations, management, and development processes. The market is currently in a rapid growth phase, driven primarily by the urgent need of companies for digital transformation, government policies supporting the digital economy, and the deep integration of emerging technologies such as artificial intelligence, cloud computing, and big data with various industries. The continued development of new infrastructures such as cloud computing, intelligent computing, and industrial Internet of Things provides a better operational environment and technical support for IT solutions. As data intelligence, large models, AI applications, and other business scenarios continue to evolve, the demand for related IT solutions by enterprises increases, driving market growth. From 2020 to 2024, the market size of the Chinese IT solution services industry increased from RMB 2.32 trillion to RMB 3.83 trillion, with a compound annual growth rate of 13.4%. It is estimated that by the end of 2029, the market size of the Chinese IT solution services industry will reach RMB 6.53 trillion. The compound annual growth rate from 2024 to 2029 is projected to be 11.3%. Board of Directors and Management Information The company's board of directors consists of six directors, including two executive directors, one non-executive director, and three independent non-executive directors. The board of directors is responsible for and has general authority over managing and handling the company's operations. Equity Structure As of the last practicable date, Shenzhen Yucheng directly holds 35.4% of the company's issued share capital. Shenzhen Yucheng is a limited liability company established in China by Mr. Mao, Mr. Ji, and Mr. Xie on December 31, 2014 (known as Shenzhen Yunmei Investment Co., Ltd. from September 29, 2016, to August 26, 2019, and Shenzhen Dalianhe Investment Co., Ltd. from December 31, 2014, to September 28, 2016). After several rounds of equity changes between Mr. Mao, Mr. He, Mr. Ji, and Mr. Xie, as of the last practicable date, Shenzhen Yucheng holds 35.4% of the company's shares, with Mr. Xie, Mr. Mao, Mr. He, and Mr. Kong holding 30.8%, 28.0%, 23.2%, and 18.0%, respectively. These interests refer to the indirect portions of the 35.4% share of the company held by Shenzhen Yucheng. There have been no changes in the equity of Shenzhen Yucheng throughout the entire previous reporting period. According to the GEM listing rules, Shenzhen Yucheng, Mr. Mao, Mr. Xie, Mr. He, and Mr. Kong are considered the controlling shareholders of the company. Intermediary Team Joint Sponsors: Yuexiu Financing Limited, Huasheng Capital Limited Compliance Advisor: Yuexiu Financing Limited Industry Consultant: Frost & Sullivan (Beijing) Consulting Co., Ltd., Shanghai Branch Company Legal Advisor: Hong Kong Law: Junxuan Zhou Law Firm in association with Beijing Tongshang Law Firm; China Law: Beijing Tongshang Law Firm Auditors and Reporting Accountants: ShineWing (Hong Kong) Certified Public Accountants Limited