New stock news | Speedy innovation once again handed in the form to the Hong Kong Stock Exchange to become the world's second largest online DTC network solution provider.

According to the disclosure made by the Hong Kong Stock Exchange on December 10th, Shenzhen Feisuchuangxin Technology Co., Ltd. (Feisuchuangxin) has submitted its application to the main board of the Hong Kong Stock Exchange, with CICC, China Securities Co., Ltd. International, and CMSC International as joint sponsors. The company had previously submitted its application to the Hong Kong Stock Exchange on May 27, 2025. The prospectus shows that based on data from Frost & Sullivan, as of 2024, Feisuchuangxin is the world's second largest online DTC network solution provider, with a market share of 6.9%. The company's comprehensive network solutions enable global enterprises to achieve efficient digital transformation. Through the online sales platform FS.com, the company provides scalable, cost-effective, and comprehensive one-stop network solutions. These solutions include high-performance network equipment, scalable network device operating systems, and cloud network management platforms. By the final practicable date, Feisuchuangxin has served over 480,000 customers in more than 200 countries and regions, covering approximately 60% of Fortune 500 companies, including industries such as information technology, financial services, healthcare, education, automotive, and electronics. The company has established a highly integrated DTC model that can efficiently deliver scenario-based solutions globally. Unlike traditional models where network architecture design, multi-vendor procurement, and post-sales support are scattered across different stages, the company's DTC model integrates these functions into a unified platform system, providing customers with an integrated solution design, product verification, and one-stop procurement experience. Feisuchuangxin offers comprehensive enterprise network solutions to meet the diverse needs of high-performance computing, data centers, enterprise networks, and telecommunications, helping global customers design, operate, and optimize networks with higher efficiency, flexibility, and cost-effectiveness. The company's solutions cover pre-sales activities, including sales consulting, technical support, solution design, testing and validation, to jointly support and deliver highly integrated network products to customers. The solutions adopt a decoupled architecture that combines standardized network hardware with scalable cloud software functions. This enables advanced remote orchestration, intelligent resource allocation, and streamlined operational management, allowing customers to dynamically adjust network resource allocation according to business needs while ensuring enterprise-level reliability. Financial Information: Revenue: In the fiscal years of 2022, 2023, 2024, and the nine months ending on September 30 of 2024 and 2025, Feisuchuangxin achieved revenues of approximately RMB 1.988 billion, RMB 2.213 billion, RMB 2.612 billion, RMB 1.954 billion, and RMB 2.175 billion, respectively. Profit: In the fiscal years of 2022, 2023, 2024, and the nine months ending on September 30 of 2024 and 2025, Feisuchuangxin achieved profits of approximately RMB 365 million, RMB 457 million, RMB 397 million, RMB 351 million, and RMB 423 million, respectively. Industry Overview: The global network solutions market size has grown from USD 119.2 billion in 2020 to USD 162.8 billion in 2024, with a compound annual growth rate of 8.1% from 2020 to 2024. The market is expected to continue expanding, with total revenues reaching USD 245.3 billion in 2029, and a compound annual growth rate of 8.5% from 2024 to 2029. Network hardware products can be divided into switches, routers, WLAN, optical modules and high-speed cables, and cables, among others. Switches, routers, and WLAN are the main types of network devices. Due to increased expenditure on enterprise network infrastructure, the global market sizes for switches, routers, and WLAN are expected to achieve stable growth during the forecast period, with compound annual growth rates of 7.0%, 5.8%, and 7.6% from 2024 to 2029, respectively. Optical modules and high-speed cables are projected to have the fastest growth rates during the forecast period, with a compound annual growth rate of 18.4%. As the demand for high-performance network solutions supporting speeds of 100G and above continues to rise, enterprise customers have an increasing need for high-performance network solutions. The total revenue of the global high-performance network hardware market (speeds of 100G and above) has grown from USD 14 billion in 2020 to USD 33.7 billion in 2024, with a compound annual growth rate of 24.6% from 2020 to 2024. Future growth is expected to drive total revenue to reach USD 83.1 billion by 2029, with a compound annual growth rate of 19.8% from 2024 to 2029. Board of Directors Information: The Board of Directors consists of seven directors, including two executive directors, two non-executive directors, and three independent non-executive directors. Equity Structure: Mr. Xiang directly holds 56.65% of the company's shares and controls a total of 61.16% of the voting rights through three employee shareholding platforms controlled by him: Yuxuan Wenjian, Yuxuan Jinqi, and Yuxuan Chengzhang, making him the controlling shareholder of the company. Fupeng No. 3 and Fupeng No. 8 hold 15.81%, Haitong Investment holds 4.46%, Yang Jie holds 4.4%, and the Shenzhen Venture Capital Group, Hongtu No. 1, and Nanshan Hongtu collectively hold 3.79%. Intermediary Team: Sole Sponsor: China International Finance Hong Kong Securities Co., Ltd., China Securities Co., Ltd. (International) Finance Co., Ltd., CMSC (Hong Kong) Co., Ltd. Company Legal Advisor: Hong Kong legislation and U.S. law: Clifford Chance; Chinese law: Zhong Lun Law Firm Sole Sponsor Legal Advisor: Hong Kong legislation and U.S. law: Simpson Thacher & Bartlett; Chinese law: JT&N Industry Consultant: Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch