迅策科技，拟港股IPO

Core Viewpoint - Shenzhen Xunce Technology Co., Ltd. has submitted an application for H-share listing on the Hong Kong Stock Exchange after two previous unsuccessful attempts in March and September 2024 [1] Company Overview - Established in 2016, Xunce Technology is a provider of real-time data infrastructure and analytical solutions, currently not profitable [2] - The company focuses on asset management data analysis, offering real-time IT solutions that encompass data infrastructure and analysis [3] Business Focus - Xunce Technology's core product is its real-time data infrastructure, which can collect, clean, manage, and analyze heterogeneous data from multiple sources within milliseconds to seconds [3] - The company holds a leading position in China's asset management industry for real-time data infrastructure and analysis, with a market share of 11.6% as of 2024 [3] Client Applications - The solutions provided by Xunce Technology enable asset managers and other enterprises to focus on investment and business decisions by aggregating data and offering a unified data platform with real-time processing capabilities [3] - The company has expanded its client base beyond asset management to include financial services, urban management, production management, and telecommunications, covering China's three major state-owned telecom operators [4] Financial Performance - Xunce Technology has not yet achieved profitability, with revenues of RMB 288.99 million, RMB 530.46 million, RMB 631.98 million, and RMB 197.84 million projected for 2022, 2023, 2024, and the first half of 2025, respectively [5][6] - The company recorded net losses of RMB 96.51 million, RMB 63.39 million, RMB 97.85 million, and RMB 107.99 million for the same periods [5][6] Reasons for Losses - The primary reasons for the losses are attributed to significant R&D, administrative, and distribution expenses resulting from rapid business expansion [7]