Cailianshe brings you weekly Hong Kong IPO information.

As of press time, this week (January 19-January 26), 11 companies have submitted their forms, and no company has passed the hearing, IPO and listing.

1) On January 20, Anjing Foods (603345) submitted a listing application to the Hong Kong Stock Exchange, with Goldman Sachs and CICC as joint sponsors.

According to the prospectus, Yasui Foods is a leading enterprise in China's quick-frozen food industry, and is committed to providing delicious, high-quality and convenient food in a variety of consumption scenarios such as families, restaurants and dining out.

According to Frost & Sullivan, Yasui Foods is the largest frozen food company in China in terms of revenue in 2023, with a market share of 6.2%.

In terms of performance, in the first three quarters of 2022, 2023, and 2024, Anjing Food's revenue will be 12.106 billion yuan, 13.965 billion yuan, and 10.995 billion yuan respectively; The profit in the same period was 1.118 billion yuan, 1.501 billion yuan and 1.062 billion yuan respectively.

2) On January 20, Goertek Microelectronics submitted a listing application to the Hong Kong Stock Exchange, with CICC, China Securities Construction Investment International, CMB International and UBS Group as joint sponsors.

According to the prospectus, the company is the only enterprise engaged in the R&D, production and sales of MEMS (microelectromechanical system) devices and microsystem modules in Goertek's share system. After years of development, it has become a leading enterprise of MEMS and microsystem modules in China.

MEMS devices are usually fabricated with micro-nano fabrication technologies such as photolithography, etching, and deposition on substrate materials such as silicon wafers to create micro-sized mechanical structures and electronic components. It is also a key component of smartphones, tablets, smart watches and other devices, and is also used in automotive electronics, medical, aerospace and other fields.

In terms of finance, from 2021 to 2023, Goertek's revenue will be 3.348 billion yuan, 3.125 billion yuan, and 3.015 billion yuan respectively, and the net profit attributable to the parent company will be 329 million yuan, 326 million yuan, and 226 million yuan respectively in the same period, and the gross profit margin during the period will be 22.87%, 20.84%, and 20.22% respectively, showing an overall downward trend.

3) On January 20, Daxing Science and Industry (Shenzhen) Co., Ltd. submitted a listing application to the main board of the Hong Kong Stock Exchange, with China Securities Construction Investment International as the sole sponsor.

According to the prospectus, Daxing Science and Industry is a world-leading and rapidly expanding folding bicycle company. According to CIC, the company ranked first in the folding bicycle industry in Chinese mainland and the global folding bicycle industry in terms of retail sales in 2023, with market shares of 21.1% and 5.6% respectively. In China, as of September 30, 2024, the company cooperated with 38 dealers in more than 30 provincial-level administrative regions, covering more than 650 retail stores.

In terms of finance, in 2022, 2023, 2023 and 2024, the company's revenue for the nine months ended September 30 was approximately 254 million yuan, 300 million yuan, 222 million yuan and 352 million yuan respectively, and the total profit and comprehensive income for the same period were 31.434 million yuan, 34.85 million yuan, 26.308 million yuan and 45.838 million yuan.

4) On January 21, Fujian Lemo IOT Technology Co., Ltd. submitted a listing application to the main board of the Hong Kong Stock Exchange, with China Securities Construction Investment International and Shenwan Hongyuan Hong Kong as joint sponsors.

According to the prospectus, Lemo is the leader of intelligent massage service providers in Chinese mainland. According to Frost & Sullivan, in the three consecutive years from 2021 to 2023, the company ranked first among all smart massage service providers in Chinese mainland in terms of transaction value, with market shares of 29.4%, 33.9% and 37.3% respectively in the corresponding years, dominating the market.

As at the latest practicable date, Lemo had set up more than 45,000 service outlets and placed more than 500,000 smart massage devices for smart massage services, covering 31 provincial-level administrative regions and 339 cities in Chinese mainland.

In terms of finance, for the nine months ended September 30, 2022, 2023, 2023 and 2024, Lemo's revenue was approximately RMB330 million, RMB587 million, RMB442 million and RMB615 million respectively, while the total profit and comprehensive income for the period were RMB6.481 million, RMB87.34 million, RMB92.734 million and RMB93.11 million during the same period.

5) On January 21, Sichuan Baili Tianheng Pharmaceutical Co., Ltd. (688506.SH) submitted a listing application to the main board of the Hong Kong Stock Exchange, with Goldman Sachs, JPMorgan Chase and CITIC Securities as its joint sponsors. The company submitted a listing application to the Hong Kong Stock Exchange on 10 July 2024.

According to the prospectus, Baili Tianheng is a comprehensive pharmaceutical group that operates innovative biological drugs and generic drugs and proprietary Chinese medicines. As of the latest practicable date (January 15, 2025), all of Baili Tianheng's innovative drug candidates are still in the clinical and preclinical development stages. For the nine months ended September 30, 2024, the Company recorded revenue of approximately RMB5,561.2 million, of which 94.2% was derived from licensing fee income arising from licensing and collaboration agreements with BMS, while 5.8% was generated from the sales of generic drugs and proprietary Chinese medicines.

In terms of finance, for the nine months ended September 30, 2021, 2022, 2023 and 2024, the Company recorded revenue of approximately RMB795 million, RMB702 million, RMB560 million and RMB5.661 billion, respectively, and profit for the year of approximately RMB108 million, -282 million, -780 million and RMB4.065 billion, respectively.

6) On January 21, Shanghai Baoji Pharmaceutical Co., Ltd. submitted a listing application to the main board of the Hong Kong Stock Exchange, with CITIC Securities and Haitong International as joint sponsors.

According to the prospectus, Progenics was established in 2019 to focus on the research and development of large-scale biological drugs, and is committed to improving the standard of treatment by replacing biochemical extraction products derived from animal organs, blood or urine, or otherwise upgrading existing treatments. As of the Latest Practicable Date, Progenics has developed a differentiated pipeline of five clinical-stage drug candidates (including the Company's three core products, KJ017, KJ103 and SJ02) and seven preclinical products, covering the above four therapeutic areas.

In terms of performance, in 2023, Progenics achieved revenue of 6.93 million yuan, other income of 17.6 million yuan, R&D expenses of 133 million yuan, administrative expenses of 46.35 million yuan, and a loss of 160 million yuan during the period. In the first nine months of 2024, Progenics Pharmaceutical's revenue was 4.441 million yuan, a year-on-year decrease of 11.94%; The loss for the period was 263 million yuan, compared with a loss of 113 million yuan in the same period last year, and the loss further widened.

7) On January 23, Jiangsu Zhonghui Yuantong Biotechnology Co., Ltd. submitted a prospectus to the Hong Kong Stock Exchange, with CITIC Securities and CMB International as its sponsors.

It is worth noting that Sinowise Biotech has sought to list on the SSE STAR Market and submitted an application to the China Securities Regulatory Commission in June 2023. In September 2023, Sinowise voluntarily withdrew its application to the SSE STAR Market. The Company's product pipeline includes two core products, namely quadrivalent influenza virus subunit vaccine and lyophilized human rabies vaccine under development, as well as 11 other vaccines under development.

In terms of finance, in 2023, the nine months ended September 30, 2023 and the nine months ended September 30, 2024, the revenue of Zhonghui Biotech was approximately 52.168 million yuan, 4.532 million yuan and 217.185 million yuan, respectively.

8) On January 23, Shandong Shengsoft Technology Co., Ltd. submitted its report to the main board of the Hong Kong Stock Exchange, with GF Securities (Hong Kong) as the sole sponsor.

According to the prospectus, in terms of revenue in 2023, Victorysoft Technology is the only independent solution provider among the top five players in China's smart oil and gas solution market, and ranks third in China's independent smart energy solution market.

In terms of finance, for the nine months ended September 30, 2022, 2023 and 2024, the revenue of Shengsoft Technology was approximately RMB391 million, RMB502 million and RMB163 million, respectively. In the same period, the profit for the year was 37.607 million yuan, 53.664 million yuan and -11.316 million yuan respectively.

9) On January 24, Zhejiang Panxing Digital Intelligence Technology Co., Ltd. submitted its application to the main board of the Hong Kong Stock Exchange, with Hunbo Capital as the sole sponsor.

According to the prospectus, Panxing Digital Intelligence was established in Hangzhou, Zhejiang Province in 2017 and is a leading provider of online marketing solution services in China, focusing on providing online marketing solution services and SaaS services.

In terms of finance, Panxing Digital Intelligence's revenue for the nine months ended September 30 in 2022, 2023 and 2024 will be 491 million, 812 million and 673 million yuan respectively; gross profit was 63.66 million, 93.18 million and 52.25 million yuan respectively; The profit during the period was 6.67 million yuan, 25.16 million yuan and 22.01 million yuan respectively.

10) On January 24, Shine Huaxin Technology International Co., Ltd. submitted its application to the main board of the Hong Kong Stock Exchange, with CITIC Securities and Daiwa as joint sponsors.

According to the prospectus, Huaxin is a leading provider of digital intelligence software technology services and solutions for the international market in China. According to CIC Consulting, the company is the largest enterprise in China to undertake software technology services and solutions in Japan in terms of revenue from software technology services and solutions in 2023.

In terms of finance, for the nine months ended September 30, 2022, 2023 and 2024, the revenue of CEFC was approximately RMB1,632 million, RMB1,925 million and RMB1,310 million, respectively. During the same period, the profit for the year was 182 million yuan, 2.70 yuan and 120 million yuan respectively.

11) On January 24, Jiangsu Horizon Supermarket Chain Co., Ltd. submitted its report to the main board of the Hong Kong Stock Exchange, with Glory Capital as the sole sponsor.

According to the prospectus, the company is a supermarket and convenience store chain operator headquartered in Yangzhou, mainly concentrated in Jiangsu Province, Jiangsu Province, operating retail business and wholesale business under the "Hongxinlong" brand.

In terms of sales, the Company ranked second among supermarket operators in Yangzhou in 2023 with a market share of approximately 9.1%, and in terms of sales volume, the Company ranked fifth among supermarket operators in the central region of Jiangsu Province in 2023 with a market share of approximately 2.3%, and ranked around 20th among supermarket operators in Jiangsu Province in terms of sales in 2023 with a market share of approximately 0.4%.

In terms of finance, for the nine months ended September 30, 2021, 2022, 2023 and 2024, Horizonlong's revenue was approximately RMB1.432 billion, RMB1.329 billion, RMB1.402 billion and RMB1.006 billion, respectively. In the same period, the profit during the year was 35.080 million yuan, 51.065 million yuan, 51.602 million yuan and 24.078 million yuan respectively.