New stock news | Purple Communication applies to Hong Kong Stock Exchange to provide services for China's largest e-commerce security operations products.

According to the disclosure by the Hong Kong Stock Exchange on June 24, Zixun Technology (Fujian) Co., Ltd. (referred to as Zixun Technology) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with GUOTAI JUNAN I as its exclusive sponsor. Company Profile The prospectus shows that the company is an e-commerce technology company dedicated to innovating e-commerce operations by combining industry expertise with AI technology. As a leading e-commerce software provider in China, the company offers a comprehensive suite of native e-commerce software products designed to meet the core operational needs of e-commerce sellers. By revenue in 2025, the company is the largest provider of e-commerce security operation products. According to data from Frost & Sullivan, among the top four e-commerce software providers (by revenue), the company achieved the highest revenue growth rate and operating profit margin from 2023 to 2025. With a deep understanding of the needs of e-commerce sellers and a strong proprietary technological foundation, the company has developed a product portfolio consisting of two complementary product lines. The company's e-commerce security operation products, such as Ziniu Browser, aim to provide sellers with secure, reliable, and efficient solutions for managing cross-platform multi-store operations, with a core focus on facilitating fine-grained permissions and authorization control. The e-commerce AI application products led by LinkFox, as a supplement to the above products, have built a proprietary, comprehensive AI product matrix focused on store operations. This product portfolio enhances efficiency at every key stage, from market research and content generation to product detail pages and sales analysis. The company continues to strive for excellent user experience, establishing Ziniu Browser as an industry standard and indispensable infrastructure for sellers. By revenue in 2025, this is the largest e-commerce security operation product in China. Meanwhile, LinkFox, as one of the pioneers in AI application products focused on e-commerce store operations, focuses on the core product matrix to meet and predict the evolving needs of e-commerce sellers. In recent years, the rapid development of AI technology has profoundly changed the operational model of the e-commerce industry. Sellers now rely on AI application products that understand industry-specific details, cover key aspects of the operational lifecycle, and provide quantifiable operational efficiency improvements. Leveraging its deep understanding of e-commerce scenarios and continuous investment in AI technology, the company launched the e-commerce AI application product matrix LinkFox in 2023. Under the LinkFox brand, the company has built a comprehensive AI intelligent body matrix aimed at optimizing the core operational workflows of e-commerce stores and delivering substantial AI-based productivity to sellers. Financial Information Revenue In the fiscal years 2023, 2024, and 2025, the company's revenue was approximately RMB 299 million, RMB 470 million, and RMB 687 million, respectively. Profit In the fiscal years 2023, 2024, and 2025, the company's annual profits were -RMB 87.36 million, RMB 42.46 million, and RMB 57.49 million, respectively. Industry Overview The market size of China's e-commerce software market increased from approximately RMB 8.7 billion in 2021 to RMB 14.7 billion in 2025, with a compound annual growth rate of 14.0%. This growth is attributed to the rising e-commerce transaction volume, increasingly complex multi-platform operations, stricter compliance and data security requirements, and ongoing corporate investment in digital transformation. Consequently, the demand for professional software among e-commerce sellers continues to rise. Looking ahead, the market size of China's e-commerce software market is projected to reach RMB 32 billion by 2030, with a compound annual growth rate of 16.8% from 2025 to 2030. As software tools become more widespread in seller operations, secure and data-driven solutions will play a key role in enabling scalable, compliant, and efficient e-commerce operations in the Chinese e-commerce ecosystem. By software category in 2025, ERP software occupies the largest share of the domestic e-commerce software market, accounting for approximately 37.4% of the total market size; CRM software follows closely, with a share of around 34.0%; and e-commerce security operation products account for approximately 15.0%. Long-term projections suggest that the market share of ERP software will continue to rise, while the market share of CRM software is expected to slightly decline. The market share of e-commerce security operation products is expected to steadily increase, reaching around 16.3% by 2030. This demonstrates the growing importance of compliance management, risk control, and secure operations in the evolving e-commerce landscape. The e-commerce security operation products market is a specialized category within the e-commerce software market. The market size of China's e-commerce security operation products market increased from approximately RMB 1.2 billion in 2021 to around RMB 2.2 billion in 2025, with a compound annual growth rate of 16.4%. As multi-platform, multi-account operational models become more common, compliance and data security requirements become stricter, and the demand for standardized team management continues to rise, e-commerce sellers' utilization of professional security and operational products continues to grow. Looking ahead, by 2030, the market size of China's e-commerce security operation products market is projected to reach around RMB 5.2 billion, with a compound annual growth rate of 18.8% from 2025 to 2030. As security tools become more widely used in seller operations, the adoption of account security, permission management, and risk control will continue to increase. With enhanced automation and intelligence capabilities, e-commerce security and operational products are expected to play an increasingly important role in achieving compliant, stable, and scalable operations. Board of Directors Information The company's board of directors consists of seven directors, including three executive directors and four independent non-executive directors. Ownership Structure As of the last practicable date (June 20, 2026), Mr. Yang and Fuzhou Zixun Limited Partnership are considered the controlling shareholders of the company, collectively holding or controlling the voting rights attached to 59.39% of the company's issued shares. Advisory Team Exclusive Sponsor: Guotai Junan Financing Co., Ltd. Legal Counsel: Kirkland & Ellis, Jingtian & Gongcheng Law Firm Legal Counsel for Exclusive Sponsor: Zhou Junxuan Law Firm in association with Beijing Tongshang Law Firm, Tianyuan Law Firm Reporting Accountant and Auditor: PricewaterhouseCoopers Industry Consultant: Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch Compliance Consultant: Guotai Junan Financing Co., Ltd.