Company Overview - Rongda Technology, established in 2010 and headquartered in Xiamen, Fujian, specializes in automatic identification and data collection (AIDC) devices and solutions, including printing equipment, scales, POS terminals, and PDAs [9] - The company offers over 100 standard products, incorporating IoT technology, cloud printing, and artificial intelligence [9] IPO Details - Rongda Technology's IPO in Hong Kong is scheduled from May 30 to June 5, 2025, with a pricing date expected on June 6, 2025, and a listing date on June 10, 2025 [5] - The offering consists of 18.4 million shares, with 90% allocated for international placement and 10% for public offering; the oversubscription is expected to exceed 15 times, allowing for a potential increase in allocation [5][6] Financial Performance - Revenue for the fiscal years 2022, 2023, and 2024 was approximately 393.3 million, 348.7 million, and 350.1 million RMB, respectively, with gross profit margins of 22.8%, 24.5%, and 28.4% [11][13] - The company has consistently paid dividends, totaling 71.5 million RMB over the past three years, indicating a lack of strong intent to reinvest for growth [12] Market Position and Growth Potential - Rongda Technology is the ninth largest player in China's specialized printer market, holding a market share of 1.8% as of 2023 [16] - The global AIDC device market is projected to grow from 60.8 billion USD in 2018 to 90.1 billion USD in 2023, with a compound annual growth rate of 8.2% [15] Product Sales Breakdown - Sales from printing equipment accounted for 77.4%, 74.9%, and 69.5% of total revenue in 2022, 2023, and 2024, respectively [10] - The sales of scales increased from 9.1% in 2022 to 15.2% in 2024, indicating a growing diversification in product offerings [10] Use of Proceeds - The proceeds from the IPO will be allocated as follows: approximately 36.5% for R&D, 33.4% for enhancing production efficiency, 20.1% for expanding the sales network, and the remaining 10% for working capital [7]
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