New Stock News | Wenshi Information Files Again with Hong Kong Stock Exchange, BOOX OS Monthly Active Users Exceed 1.2 Million

According to a disclosure by the Hong Kong Stock Exchange on September 23, Guangzhou Wenshi Information Technology Co., Ltd. (referred to as "Wenshi Information") has submitted an application for listing to the Main Board of the Hong Kong Stock Exchange, with China Securities Co.,Ltd. International as the sole sponsor. The company had previously filed with the Hong Kong Stock Exchange on January 16, 2026. Company Overview The prospectus shows that Wenshi Information is a global technology consumer electronics brand company in the knowledge-focused productivity tools industry, dedicated to helping knowledge workers worldwide efficiently acquire textual information by providing smart hardware devices with paper-like reading and writing, focus, and portability features, and presenting high-value content through functions such as summarization, search, and editing management of information. The company's smart hardware devices are divided into two categories: high-speed readers and productivity tablets, both equipped with its self-developed open operating system BOOX OS. The revenue breakdown by product category is as follows: According to Frost & Sullivan, based on 2025 retail value, the company ranks as the largest knowledge-focused productivity tools brand in China and the second largest globally in the knowledge-focused productivity tools market, which is a segment of the broader knowledge-focused smart tools market and accounted for nearly half of the overall market by 2025 retail value. According to the same source, the company's global market share is 4.2%, while the highest market share in the same market is 13.1%. The company targets global knowledge workers and has built a software and hardware product portfolio centered on reading and writing experience and deep thinking, serving as the entry point for users to access the company's ecosystem services. Leveraging this product portfolio, as of June 30, 2026, the monthly active users of the BOOX OS operating system installed on the company's hardware products have exceeded 1.2 million; the continuous launch of new hardware products is an important channel for acquiring new users: in 2023, 2024, 2025, and the six months ended June 30, 2026, these new hardware products contributed 36.9%, 26.3%, 33.2%, and 10.5% of total revenue for each period, respectively. In addition, the user base of the company's software product StarNote continues to grow, with cumulative downloads reaching approximately 2 million as of June 30, 2026. The company's R&D team and continuous R&D investment lay the foundation for the successful commercialization of its products. The company's technical capabilities are mainly reflected in the following areas, including: (i) a series of consumer smart devices, namely high-speed readers and productivity tablets, designed to meet reading and writing needs in different scenarios; (ii) BOOX OS, the company's self-developed open operating system installed on all of its smart devices, which can optimize and enhance the clarity, color performance, and refresh responsiveness of e-ink displays while integrating AI and cloud service capabilities; and (iii) StarNotea standalone reading and writing application that allows users to synchronize, retain, and access notes and annotations across different smart devices. According to Frost & Sullivan, the penetration rate of knowledge-focused productivity tools reached 51.8% in 2025 and is expected to increase to 68.0% by 2030. With the growing demand for AI and cloud services, the market for knowledge-focused productivity tools that gradually embed AI functions and cloud services is expected to expand significantly. According to the same source, the market size is expected to increase from RMB 44.4 billion in 2026 to RMB 80.4 billion in 2030, with a compound annual growth rate of 16.0% from 2026 to 2030. Financial Information Revenue: For the years 2023, 2024, 2025, and the six months ended June 30, 2025 and 2026, the company's revenue was approximately RMB 804 million, RMB 1,018 million, RMB 1,128 million, RMB 534 million, and RMB 574 million, respectively. Net Profit: For the years 2023, 2024, 2025, and the six months ended June 30, 2025 and 2026, the company's net profit was approximately RMB 124 million, RMB 121 million, RMB 131 million, RMB 70.057 million, and RMB 53.27 million, respectively. Net Profit Margin: For the years 2023, 2024, 2025, and the six months ended June 30, 2026, the company's net profit margin was 15.4%, 11.9%, 11.6%, and 9.3%, respectively. Industry Overview Text information processing is a core activity in education, academic research, and professional workflows. With the continuous expansion of long-form digital content and online collaboration, users increasingly need to read, review, annotate, and organize large amounts of textual material, while fragmented information intake patterns and multitasking environments often weaken concentration during prolonged reading and document processing, and exacerbate fatigue. In this context, the suitability of devices for relevant tasks depends on two capabilities: productivity capability and knowledge focus capability. The table below sets out the market size of global knowledge-focused smart tools from 2021 to 2030. This market has maintained steady growth and is expected to continue expanding, supported by increased demand for text-intensive processing, the ongoing digitization of documents, and continuous upgrades of products and services. Knowledge-focused productivity tools primarily derive user value from the coordination of display and refresh performance, input and handwriting functions, and file management, search, synchronization, and collaboration functions. For open-system products, the latter can be further expanded through third-party applications, supporting a more continuous read-annotate-organize-synchronize/collaborate workflow. The table below sets out common products offered by major players in the knowledge-focused productivity tools market: The figure below sets out the market size of the global knowledge-focused productivity tools market from 2021 to 2030. The global knowledge-focused productivity tools market is a segment of the global knowledge-focused smart tools market, including products primarily used for reading, writing, note-taking, and other knowledge-focused applications. In 2025, by retail value, this segment accounted for nearly half of the overall smart tools market. Driven by increasing demand for integrated reading and writing workflows and close integration of terminal workflows and cloud services, this market is expected to continue expanding, with the penetration rate of the overall knowledge-focused smart tools market rising steadily. Within the knowledge-focused productivity tools segment, monochrome e-ink products remain the foundation for text-based document processing, while color e-ink products are increasingly used in visually complex reading and review scenarios. As color solutions mature, they are expected to drive further upgrades in product portfolios, while monochrome products are expected to remain the mainstream entry-level choice. From a system architecture perspective, knowledge-focused productivity tools can be divided into open-system products and closed-system products. The two types of products meet different user preferences and are expected to coexist in the long term. Open-system products generally offer broader application extensibility and ecosystem connectivity, while closed-system products emphasize lower distraction, clearer functional boundaries, and more stable interaction paths. Both segments are expected to continue expanding, driving the industry toward an integrated "hardware + software + services" model. Board of Directors Information The board of directors currently consists of eight directors, including five executive directors and three independent non-executive directors. Shareholding Structure Gongyi Wenshi, Gongchuang Wenshi, Ms. Dan, Mr. Zhu, and Mr. Zhai together constitute the company's controlling shareholder group. Gongyi Wenshi, as their general partner, controls Gongchuang Wenshi. The company is 99% owned by Ms. Dan, who is also an executive director and general manager of the company. Gongchuang Wenshi is the company's employee shareholding platform, whose general partner is Gongyi Wenshi. Intermediary Team Sole Sponsor: China Securities Co.,Ltd. (International) Financing Limited Company Legal Advisors: Slaughter and May, Zhong Lun Law Firm Sole Sponsor Legal Advisors: Jia Yuan Law Offices, AllBright Law Offices Auditor and Reporting Accountant: Ernst & Young Industry Consultant: Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch Compliance Advisor: Hongbo Capital Limited