Sublime China Information (SZ:301299) 2 1 Shi Ji Jing Ji Bao Dao·2025-08-26 09:57Core Viewpoint - Zhuochuang Information is planning to issue shares overseas (H-shares) and apply for listing on the Hong Kong Stock Exchange, aiming to enhance its international brand image and competitiveness in the face of industry competition [1][11]. Company Overview - Zhuochuang Information, founded by Jiang Hulin with an initial capital of 100,000 yuan, has grown into a company with a market capitalization of 4 billion yuan and is one of the first in its sector to achieve an independent IPO [1][6]. - The company provides information and data services for bulk commodities and has over 4 million registered clients, including more than 190 Fortune Global 500 companies [6][8]. Financial Performance - For the first half of the year, Zhuochuang reported revenues of 171 million yuan and a net profit of 35 million yuan, showing limited growth compared to pre-IPO figures [1][9]. - Historical revenue growth from 2022 to 2024 is modest, with revenues increasing from 273 million yuan to 294 million yuan, while net profit rose from 58 million yuan to 71 million yuan [9]. Industry Competition - The industry is characterized by numerous competitors, with specialized information service providers for various bulk commodities, making it challenging for Zhuochuang to find new growth points [3][12]. - Competitors like Longzhong Information and Shanghai Steel Union dominate their respective sectors, putting pressure on Zhuochuang to innovate and expand [3][12]. Strategic Direction - The company aims to deepen its global strategy and enhance its core competitiveness through the planned Hong Kong listing, which could provide a new valuation benchmark for similar companies in the industry [11][15]. - Zhuochuang has already established a presence in overseas markets, with foreign revenue growing from 19.59 million yuan to 32.72 million yuan from 2022 to 2024, indicating potential for further international expansion [15].