Xiamen Jihong Technology (002803) 中国经济网· Zhong Guo Jing Ji Wang·2025-05-27 08:50Core Viewpoint - Xiamen Jihong Technology Co., Ltd. (Jihong Co., 002803) has successfully listed on the Hong Kong Stock Exchange, with its share price closing at HKD 10.68, reflecting a 39.06% increase from the final offering price of HKD 7.68 [1][2]. Group 1: IPO Details - The total number of shares offered globally was 67,910,000 H-shares, with 20,373,000 shares allocated for public offering in Hong Kong and 47,537,000 shares for international offering [1][2]. - The total proceeds from the offering amounted to HKD 521.5 million, with a net amount of HKD 415.2 million after deducting estimated listing expenses of HKD 106.4 million [2][3]. Group 2: Fund Utilization - Approximately 40% of the net proceeds will be used for overseas market expansion, 35% for technology development, 15% for expanding the brand portfolio and developing existing proprietary brands, and 10% for working capital and other general corporate purposes [4]. Group 3: Financial Performance - In 2024, Jihong Co. reported revenue of CNY 5.53 billion, a decrease of 17.41% year-on-year, and a net profit attributable to shareholders of CNY 181.93 million, down 47.28% year-on-year [4][5]. - The net profit excluding non-recurring items was CNY 159.95 million, reflecting a 50.83% decrease year-on-year, while the net cash flow from operating activities was CNY 386.68 million, down 46.71% year-on-year [4][5].