Core Viewpoint - METALIGHT Technology (元光科技) listed on the Hong Kong Stock Exchange on June 10, 2023, with an IPO price of HKD 9.75 per share, raising approximately HKD 242 million, but the stock price fell significantly on its first day of trading [1][3]. Financial Performance - For the years 2022, 2023, and 2024, METALIGHT's projected revenues are RMB 135.4 million, RMB 175.4 million, and RMB 206.1 million, respectively [3][4]. - The company reported net losses of approximately RMB 20.04 million, RMB 20.33 million, and RMB 26.14 million for the same years [4][6]. - Adjusted net profits are projected to be RMB 9.81 million, RMB 46.50 million, and RMB 54.22 million for 2022, 2023, and 2024, respectively, with adjusted net profit margins of 7.2%, 26.6%, and 26.3% [6][4]. Shareholder Structure - Major shareholders include Didi and Alibaba, with the founder Shao Lingshuang holding 4.46% and CEO Sun Xi holding 8.71% of the shares, controlling a total of 25.21% of the voting rights [8]. - The company has faced legal issues related to unfair competition, resulting in a court ruling that required compensation for damages [9].
METALIGHT元光科技在港上市：开盘破发，曾因不正当竞争被判赔偿