西普尼港股IPO：黄金价格波动风险高、ODM业务依赖度上升

Group 1 - The core viewpoint of the article is that Shenzhen Xipuni Precision Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with China Ping An Capital (Hong Kong) Limited as the exclusive sponsor [1] - Xipuni is a leading designer, manufacturer, and brand owner of precious metal watches in China, primarily generating revenue through its flagship brand "HIPINE" and providing ODM manufacturing services for third-party jewelry brands [1] - According to data from Zhaoshang Consulting, HIPINE is the largest gold watch brand and the largest foot gold watch brand in China by GMV in 2023, holding market shares of 24.98% and 35.83% respectively [1] Group 2 - The company's revenue increased from RMB 323.70 million in the fiscal year 2022 to RMB 445.48 million in 2023, and is projected to further increase to RMB 456.6 million in 2024 [1] - The net profit for the company for the fiscal years 2022 to 2024 was RMB 24.54 million, RMB 52.10 million, and RMB 49.3 million respectively [1] - The company has developed a series of foot gold watches equipped with Huawei's smart core technology based on its ultra-fine hard gold technology, which was first introduced in 2014 [1]