New Stock News | Sunmi Technology's Hong Kong Stock IPO Prospectus Invalid

Shanghai Sunmi Technology Group Co., Ltd. (referred to as Sunmi Technology) submitted its Hong Kong IPO prospectus on June 25th, which expired after 6 months on December 25th. At the time of submission, Deutsche Bank, Agricultural Bank International, and CITIC SEC acted as its joint sponsors. According to the previous prospectus disclosure, Sunmi Technology is a global leading provider of Business Internet of Things (BIoT) solutions. The company's solutions integrate smart hardware, software, and data insights, empowering numerous offline commercial scenarios to achieve digital transformation and improve core business operations processes (such as payment, member management, order fulfillment, inventory control, and staff management) efficiency. According to data from PwC, based on 2024 revenue calculations, the company is currently the world's largest Android terminal BIoT solution provider, occupying more than 10% market share.