HEILAN HOME(SH:600398) Hua Xia Shi Bao·2025-09-11 10:41Core Viewpoint - The company, HLA (海澜之家), plans to issue H shares and list on the Hong Kong Stock Exchange to enhance its global strategy and international presence [2][3]. Group 1: Company Strategy - HLA aims to deepen its global strategy and accelerate overseas business development through the upcoming Hong Kong listing [3][6]. - The company has been expanding internationally since 2017, with a focus on Southeast Asia and plans to open its first store in Australia [2][4]. - As of the first half of this year, HLA has 111 overseas stores, generating a revenue of 206 million yuan, a 27.42% increase year-on-year [4][5]. Group 2: Financial Performance - In the first half of the year, HLA reported a revenue of 11.566 billion yuan, a year-on-year increase of 1.73%, while net profit decreased by 3.42% to 1.580 billion yuan [3][4]. - The company's revenue fluctuated significantly from 2020 to 2024, with a notable decline in 2020 and a recovery in subsequent years, although 2024 showed a slight decrease [4][6]. Group 3: Market Context - The trend of A-share companies listing in Hong Kong is increasing, with 11 companies having done so this year, bringing the total to 161 A+H companies [2][7]. - The Hong Kong market is seen as a mature international financial center, providing a broader investor base and diverse financing channels for companies [6][7]. - Recent policy changes by the China Securities Regulatory Commission have facilitated the process for mainland companies to list in Hong Kong, further encouraging this trend [7].