Manycore Tech(US:KOOL) Sou Hu Cai Jing·2025-04-21 08:32Group 1 - The China Securities Regulatory Commission (CSRC) has issued supplementary material requirements for nine companies, including Qunhe Technology, regarding their overseas listing applications [1][3] - Qunhe Technology is required to clarify its compliance with foreign exchange registration and investment procedures during its equity structure setup and reverse mergers [3] - The company submitted its listing application to the Hong Kong Stock Exchange on February 14, with JPMorgan and Jianyin International as joint sponsors [3] Group 2 - Qunhe Technology has shown revenue growth over the past two years, with revenue increasing from RMB 601.6 million in 2022 to RMB 663.5 million in 2023, representing a year-on-year growth of 10.5% [4] - For the first three quarters of 2024, the company's revenue reached RMB 552.9 million, up 13.8% from RMB 486 million in the same period of 2023 [4] - The total revenue from 2022 to the third quarter of 2024 amounts to RMB 1.818 billion [4] Group 3 - Despite the revenue growth, Qunhe Technology remains in a loss position, although net losses have been decreasing year by year [5] - The company's losses were RMB 704 million in 2022, RMB 646 million in 2023, and RMB 422 million in the first nine months of 2024 [5] - Adjusted net losses were RMB 338 million, RMB 242 million, and RMB 94 million for the respective periods [5] Group 4 - Qunhe Technology is recognized as one of the "Six Little Dragons" of Hangzhou, a group of influential new technology companies emerging in early 2025 [5] - The "Six Little Dragons" include notable companies such as Game Science and DeepSeek, with Qunhe Technology being one of the earliest to pursue a public listing [5]