Dragon Walk enjoys a worldwide leading reputation in the manufacturing of sports shoes. Their IPO on the Shanghai Stock Exchange has already received inquiries.

On June 18, Guangdong Longxing Tianxia Technology Co., Ltd. (referred to as Longxing Tianxia) applied for the change of the listing status of the Shanghai Stock Exchange main board to "inquiry received," with CMSC as its sponsoring institution, intending to raise 1.409 billion yuan. According to the prospectus, the company is mainly engaged in the development, design, production, and sales of sports shoes, and is a professional manufacturer of sports shoes with advantages in scale, brand influence, and market competitiveness. The company has established long-term stable cooperative relationships with well-known sports brands such as UnderArmour, LI NING, Decathlon, adidas, Anta, HOKA, LaSportiva, and Vibram. Its main products include sports casual shoes, running shoes, basketball shoes, professional sports shoes, and outdoor cross-country boots. After experiencing the transfer of manufacturing capacity in the sports shoe industry, production capacity is currently highly concentrated in the Asian region. Enterprises in Taiwan, China, background sports shoe manufacturers have significant first-mover advantages in the process of industrial transfer. With advantages in technological level, production scale, and product quality, they quickly occupy market share as production lines migrate to mainland China, Southeast Asia, and South Asia. Meanwhile, due to labor cost pressures, international trade, and the division of industrial chains, companies in Europe, the United States, and Japan have gradually withdrawn from market competition. Taiwan-based shoe manufacturers deeply tied to well-known brands have experienced rapid development, forming a group of companies with strong comprehensive strength and leading international positions. Since the reform and opening up of the 1980s, the mainland Chinese sports shoe manufacturing industry has experienced rapid development, especially in coastal areas such as Guangdong and Fujian. A mature and perfected industrial chain system has gradually formed. Domestic sports shoe brands have also emerged and continued to develop, such as Anta, LI NING, Peak, and 361 Degrees. These brands have gradually nurtured large-scale, high-profile domestic specialized sports shoe manufacturing enterprises. As domestic specialized sports shoe manufacturing enterprises establish and deepen cooperation with international well-known sports brands, their technological level, product quality, and overall scale have gradually approached international leading levels, and they have gradually joined the transition of footwear manufacturing capacity to Southeast Asia and South Asia. After years of development, the company has gradually entered into the supply chain systems of international well-known brands such as UnderArmour, LI NING, Decathlon, adidas, Anta, HOKA, LaSportiva, and Vibram. With high-quality products and services, it has gained recognition from many customers in the industry. The company has been awarded the LI NING brand's Best Supplier Award for three consecutive years in the reporting period, won the UnderArmour MVP Award for five consecutive quarters from 2024 to 2025, ranked first in the adidas supplier SPIKE scoring system in 2023, won the adidas Most Competitive Award and GameChanger Award in 2024, and its shoe automation production line project won the "Automation Lighthouse Award" and "Silver Award" at the 2024 and 2025 North Asia ME Summit hosted by adidas. The company is one of only five strategic partners for Decathlon's global footwear division. Financially, in the fiscal years 2023, 2024, and 2025, the company achieved operating revenues of approximately 4.211 billion yuan, 5.588 billion yuan, and 5.834 billion yuan respectively; during the same period, net profits were approximately 212 million yuan, 281 million yuan, and 264 million yuan respectively.