New stock news | Meedu once again submits application to the Hong Kong Stock Exchange to develop and provide comprehensive technology-driven marketing, sales, and operational support services.

According to the disclosure of the Hong Kong Stock Exchange on June 12th, Midi Group Limited (hereinafter referred to as "Midi") has submitted an application to the Hong Kong Stock Exchange main board, with CIIC International as its exclusive sponsor. The company had previously submitted a listing application to the Hong Kong Stock Exchange on December 9, 2025. Company Overview According to the prospectus, Midi was founded in 2014 and is dedicated to developing and providing comprehensive technology-driven marketing, sales, and operational support services for Chinese manufacturers or merchants, to meet their full range of needs for expanding their cross-border e-commerce business. According to data from Zoyi Consulting, based on revenue in 2024, Midi ranks as the fifth largest cross-border e-commerce service provider in China, with a market share of approximately 0.5%. Midi's success is attributed to its long-term operations and extensive experience in the international trade and cross-border e-commerce marketing services industry. The company provides efficient services to clients through three synergistic business sectors: (i) overseas marketing services, relying on deep cooperation with international digital media platforms, Midi provides marketing, advertising, and operational support services to help clients in various industries promote their brands, products, or services in overseas markets; (ii) overseas e-commerce operations, leveraging its strong marketing and sales capabilities accumulated over many years, Midi selects and purchases products for brand partners through its overseas e-commerce operations and sells these products directly to overseas consumers; and (iii) exhibition services, Midi co-organizes the China Cross-border E-commerce Fair with Huiyuan International Exhibition through this service, providing exhibition services to exhibitors who are major participants in the cross-border e-commerce industry and potential clients of Midi's other business sectors. With a focus on cross-border e-commerce marketing services, Midi has established stable partnerships with multiple international digital media platforms. In 2015, Midi established a partnership with Google and later became the highest level partner in the Google Partners program. In 2017, Midi was appointed by Google as a partner in the China Google AdWords reseller program and subsequently established a Google Overseas Experience Center in Fuzhou, Fujian Province. As part of this program, Midi is authorized to represent Google in meeting the cross-border marketing needs of small and medium-sized enterprises (SMEs) in the Greater China region and provide them with relevant support. In addition, the operation of the Google Overseas Experience Center reflects the company's strong partnership with Google. In the early stages of business development, the Google AdWords reseller program and the Google Overseas Experience Center provided important support to Midi in acquiring clients. In addition to Google, Midi became an official advertising agency for TikTok for Business in 2024 and was selected as an outstanding partner in the US Cross-Border POP in 2024. In 2025, Midi became an official advertising agency for Amazon. During the reporting period, Midi successfully assisted over 2,000 direct clients in promoting their brands, products, or services in over 20 countries in the Americas, Europe, Asia, and Oceania. Financial Information Revenue In the fiscal years 2023, 2024, and 2025, the company recorded revenues of $70.85 million, $71.32 million, and $138 million, respectively. Loss for the Year In the fiscal years 2023, 2024, and 2025, the company reported losses of $16.41 million, $0.16 million, and $24.48 million, respectively. Gross Profit In the fiscal years 2023, 2024, and 2025, the company had gross profits of approximately $2.931 million, $3.119 million, and $11.829 million, respectively. Industry Overview Among various international industries, cross-border e-commerce is particularly prominent, showing strong growth momentum. This expansion is supported by advances in mobile internet technology and the continued expansion of user groups. With the help of mobile internet, the e-commerce industry breaks through traditional time and space limitations and establishes omnichannel consumer scenes. Consumers can shop anytime, anywhere using devices such as smartphones and tablets, enjoying a more convenient experience and achieving higher market flexibility and operational efficiency. In addition, a variety of product supplies reshape consumer experiences, enabling companies to better meet personalized needs and improve customer satisfaction. Furthermore, the development of digital payment systems, intelligent logistics, and related infrastructure further accelerates the development of the e-commerce industry. With China's advanced production capabilities and diversified industrial clusters, Chinese cross-border e-commerce companies demonstrate strong competitiveness in international markets, serving as a cornerstone for overseas companies. With the rapid pace of international expansion, along with the continuous improvement of the cross-border e-commerce platform ecosystem, diversified global supply chains, and favorable policy support, the industry is entering a new phase of expansion. In terms of sales, the market size of China's cross-border e-commerce industry reached $461.7 billion in 2024 and is expected to reach $933.6 billion in 2029, with a compound annual growth rate of 15.1% from 2024 to 2029. Overseas companies, especially small and medium-sized enterprises (SMEs), often have limited knowledge of the regulatory frameworks, commercial ecosystems, and practical marketing execution in their target markets. This necessitates a growing demand for comprehensive professional support in localization, precision brand marketing, effective use of digital tools, and event planning. As business partners, marketing service providers focus on digital marketing and technology solutions, covering the entire marketing cycle from initial market research, strategic planning, creative development, event execution, to performance evaluation, enabling brands to achieve sales growth and brand building. In 2024, the market size of China's overseas marketing services industry reached $36.3 billion. With the continued growth of overseas companies and their marketing needs, the market is expected to expand to $73.7 billion by 2029, with a compound annual growth rate of 15.2% from 2024 to 2029. Board of Directors Information Midi's board of directors consists of seven directors, including two executive directors, two non-executive directors, and three independent non-executive directors. Equity Structure The company's controlling shareholders are Mr. Ruan Weixing and RUANQi Holding. As of the most recent practicable date, JUli Holding is owned 56.0% by Mr. Chen Chen and 44.0% by Ms. Zhang Liping. In 2022, Mr. Chen Chen entered into a labor agreement with Fujian Midi to be responsible for the group's financial-related work. In the same year, Ms. Zhang Liping entered into a labor agreement with Fujian Midi to handle capital market-related work, including financial planning and risk management. Intermediary Team Sponsor: CIIC International Finance limited Company Legal Advisors: Dehui Law Firm, Hankun Law Firm, Fujian Xinsai Law Firm, Ao Jie Law Firm Legal Advisors for the Sponsor: Guo Weiyen Law Firm, Grandall Law Firm (Shanghai) Auditor and Reporting Accountants: KPMG Accountants Industry Consultants: Zoyi Corporate Management Consulting (Shanghai) Co., Ltd. Compliance Consultant: Zhifu Financing Co., Ltd.