New stock news | RayCloud Link Delivery submits application to Hong Kong Stock Exchange as the largest provider of intelligent intercom solutions for North America and Europe.

According to the disclosure by the Hong Kong Stock Exchange on January 16, Xiamen Ruiyun Lianchuang Innovation Technology Co., Ltd. (hereinafter referred to as Ruiyun Lian) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with CMB International as its exclusive sponsor. The prospectus shows that, based on data from Frost & Sullivan, Ruiyun Lian is the largest provider of intelligent intercom solutions in North America and Europe based on shipments by 2024. As of September 30, 2025, the company's global cumulative sales of smart community solutions are close to approximately two million units. As of the same date, Ruiyun Lian's cloud services have covered over 530,000 households globally, ranking second in the world in terms of household coverage, covering over 5,400 companies with over 163,000 employees. Company Overview According to the prospectus, as a global leading provider of intelligent intercom solutions, Ruiyun Lian, as the central portal of intelligent living, provides AI-driven, multiscene intelligent intercoms, access control machines, smart home devices, and cloud services. Ruiyun Lian focuses on the global high-end market and is currently focused on four major scenes: residential, elderly care, commercial offices, and community management. Unlike mainstream brands in the United States, Europe, and Japan that continue to use closed architectures, Ruiyun Lian's open architecture supports seamless integration with a wide range of smart home devices, allowing users to control different brands of devices through a single interface. Ruiyun Lian adopts an open collaborative integration strategy, forming a flexible two-way integration model: integrating third-party products into its system, and enabling its solutions to connect to third-party systems for maximum flexibility. Ruiyun Lian currently has over one million mobile app users, serving over 530,000 households and over 5,400 companies. The user base of the company continues to expand. Additionally, the company's open architecture enables seamless integration with smart home devices. As of September 30, 2025, Ruiyun Lian has established business partnerships with more than 180 distributors in 66 countries and regions. Financial Information Revenue For the nine months ended September 30, 2023, 2024, and 2025, the company's revenue was approximately RMB 274 million, RMB 347 million, and RMB 278 million respectively. Net Profit for the Period For the nine months ended September 30, 2023, 2024, and 2025, the company's net profit for the period was approximately RMB 38.175 million, RMB 53.438 million, and RMB 44.573 million respectively. Gross Margin For the nine months ended September 30, 2023, 2024, and 2025, the company's gross margin was 49.9%, 52.1%, and 50.7% respectively. Industry Overview The global smart community market has entered a phase of rapid expansion, with the market size growing from $467.8 billion in 2020 to $850.9 billion in 2024, with a compound annual growth rate of 16.1%. Looking ahead, driven by factors such as increasing penetration of residential smartification, deepening cross-scene linkage, and digitalization of community operations, the market is expected to grow to $1.4986 trillion in 2029, with a compound annual growth rate of 12.3%. The global smart home market exceeded $100 billion in 2024 and is expected to maintain steady growth, gradually unleashing the industry's growth potential. The smart intercom industry chain covers upstream core components and raw material suppliers, midstream product manufacturers and system integrators, and downstream end-user application areas. The global intercom market is in a stable development stage, with the market size growing from $1.68 billion in 2020 to $2.71 billion in 2024, with a compound annual growth rate of 12.7%; it is expected to grow to $3.93 billion by 2029, with a compound annual growth rate of 7.7% from 2025 to 2029. This growth is driven by the release of demand for new residential construction and smartification of existing communities, with future growth expected to slow down and enter a period of stable growth. Board of Directors Information The board of directors will consist of 8 directors, including 3 executive directors, 2 non-executive directors, and 3 independent non-executive directors. The board is responsible for the management and operation of the company and has overall authority. Directors serve a term of 3 years and are eligible for re-election upon the expiration of their term. Equity Structure As of the latest feasible date, Mr. Yuantao, as a general partner of Wisdom Era, has the right to control approximately 56.87% of the voting rights at the general meeting of shareholders, and such rights are beneficially owned by Wisdom Era. As of the latest feasible date, Wisdom Era holds 68,246,446 shares. Mr. Yuan is a general partner of Wisdom Four Seas, which holds a 33.77% partnership interest in Wisdom Era. In addition, Mr. Yuan is a general partner of Wisdom Era and directly holds a 42.07% partnership interest. Therefore, according to the Securities and Futures Ordinance, Mr. Yuan and Wisdom Four Seas are considered to have ownership rights in all shares held by Wisdom Era. Intermediary Team Exclusive Sponsor: CMB International Finance Limited Company Legal Counsel: Hankun Law Firm, Hankun Law Firm, Holman Fenwick Willan LLP Exclusive Sponsor Legal Counsel: Slaughter and May, Haiwen & Partners Auditors and Reporting Accountants: KPMG Independent Industry Consultant: Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch Compliance Consultant: SOMERLEY CAP Limited