Xiamen Jihong Technology (002803) 搜狐财经· Sou Hu Cai Jing·2025-05-27 16:57Core Viewpoint - Xiamen Jihong Technology Co., Ltd. (Jihong Co., HK:02603) successfully listed on the Hong Kong Stock Exchange on May 27, raising approximately HKD 5.22 billion with a net amount of about HKD 4.15 billion from the issuance of 67.91 million H-shares at an initial price of HKD 7.68 per share [1][3] Group 1: Listing Details - The opening price on the first trading day was HKD 11.00 per share, representing a rise of approximately 43.22% from the issue price [1] - The stock reached an intraday high of HKD 12.46 per share and closed at HKD 10.88 per share, marking a total increase of 41.67% with a market capitalization of around HKD 49.25 billion [1] Group 2: Investor Participation - Jihong Co. attracted three cornerstone investors, including Timber Kangaroo Capital Limited, Yulong International Capital Co., Ltd., and individual investor Shen Zhenyu, who collectively subscribed for USD 20 million [3] Group 3: Company Background - Established in December 2003, Jihong Co. was listed on the Shenzhen Stock Exchange in 2016, with a registered capital of approximately RMB 380 million [3] - Major shareholders include Zhuang Hao, Zhuang Shu, and Wang Yapeng [3] Group 4: Business Overview - Jihong Co.'s operations encompass cross-border social e-commerce and paper-based fast-moving consumer goods packaging [4] - According to data from ZhiShi Consulting, Jihong Co. ranks second among B2C export e-commerce companies in China by revenue, holding a market share of 1.3%, and ranks first in the paper-based fast-moving consumer goods packaging sector with a market share of 1.2% [4] Group 5: Financial Performance - The company reported total revenues of RMB 5.376 billion, RMB 6.695 billion, and RMB 5.529 billion for the years 2022, 2023, and 2024, respectively [5] - Net profits for the same years were approximately RMB 172 million, RMB 332 million, and RMB 185 million [5] - The number of signed orders increased from 11.7 million in 2022 to 16.4 million in 2023, followed by a slight decrease to 13.8 million in 2024 [5]