New stock news | Sharing massage equipment company LeMo Technology has conducted a hearing at the Hong Kong Stock Exchange and has already placed over 500,000 massage chairs.

According to the disclosure on November 18 by the Hong Kong Stock Exchange, LEMO Technology Services Co., Ltd. (referred to as LEMO Technology) went through listing hearings on the Main Board of the Hong Kong Stock Exchange, with China Securities Co., Ltd. International and Shenwan Hongyuan Group Hong Kong as its joint sponsors. LEMO Technology had previously changed its name, and was previously known as Fujian LEMO Internet of Things Technology Co., Ltd. when it submitted documents. The prospectus shows that LEMO Technology provides massage services through massage devices located in crowded public places throughout China. According to Frost & Sullivan data, for the three consecutive years from 2022 to 2024, the group ranked first in terms of transaction volume among all machine massage service providers in China, with market shares of 33.9%, 37.3%, and 42.9% respectively for each corresponding year. In terms of revenue, by 2024, the group also ranked first in the Chinese machine massage market, with a market share exceeding 50%. As of December 31, 2024, there were over 10,000 massage service providers in China, with over 50 of them being machine massage service providers. According to Frost & Sullivan data, in 2024, the Chinese machine massage service market size (approximately RMB 2.7 billion) accounted for about 0.5% of the overall Chinese massage market in 2024 (approximately RMB 536.2 billion). In terms of transaction volume and revenue, in 2024, the group's market share in the overall massage market was approximately 0.2%. LEMO Technology launched the "LEMO Bar" brand in 2016, dedicated to providing machine massage services to consumers in commercial complexes, cinemas, transportation hubs (including airports, high-speed rail stations, etc.), and other consumer scenarios. As of November 15, 2025, the group has set up over 48,000 service points for machine massage services, deployed over 533,000 machine massage devices, covering 31 provincial-level administrative regions and 337 cities in China. The number of service points for LEMO Technology expanded from 21,727 as of December 31, 2022 to 45,993 as of December 31, 2024, with a CAGR of approximately 45.49%. In terms of consumer coverage, the group has a solid market position, with a total of over 174 million identifiable service consumers and over 40 million registered members as of November 15, 2025. According to the Frost & Sullivan report, as of November 15, 2025, LEMO Technology has achieved the following milestones in terms of service point coverage: 5,318 commercial complexes with GFA exceeding 30,000 square meters, accounting for about 70.4% of commercial complexes in China with GFA exceeding 30,000 square meters; 904 cinemas with annual box office exceeding RMB 5 million, accounting for about 35.0% of cinemas in China with annual box office exceeding RMB 5 million; and 24 airports with annual passenger traffic exceeding 10 million, accounting for about 60.0% of airports in China with annual passenger traffic exceeding 10 million. In terms of finances, for the fiscal years of 2022, 2023, 2024, and the eight months ending on August 31, 2025, the company achieved revenues of approximately RMB 330 million, RMB 587 million, RMB 798 million, and RMB 631 million respectively; during the same period, net profits and comprehensive income totaled RMB 6.481 million, RMB 87.34 million, RMB 85.807 million, and RMB 88.55 million respectively.