Sublime China Information (SZ:301299) 智通财经网·2025-12-01 03:49Core Viewpoint - Shandong Zhaochuang Information Co., Ltd. (referred to as Zhaochuang Information) has submitted an application for listing on the Hong Kong Stock Exchange, with Ping An Securities (Hong Kong) as its sole sponsor [1]. Company Overview - Zhaochuang Information is a comprehensive commodity information service provider in China, focusing on market data monitoring, price assessment, and market research analysis across multiple categories of bulk commodities [3]. - The company operates in 25 bulk commodity sectors, leveraging over 120,000 global information sources to create structured data assets [3]. - Zhaochuang Information offers over 800 comprehensive and vertical industry research pages, covering approximately 1,200 types of bulk commodities and publishing around 95 industry indices [3]. Business Model - The company primarily operates on an annual subscription model, providing market data and detailed analysis to support client decision-making [4]. - According to Zhaochuang's consulting data, it ranks second in China's bulk commodity information service industry with a market share of 10.6% as of 2024, and holds the leading position in the energy commodity sector [4]. Financial Performance - Revenue for Zhaochuang Information in the fiscal years 2022, 2023, 2024, and the first eight months of 2025 was approximately RMB 273 million, RMB 284 million, RMB 294 million, and RMB 229 million respectively [6]. - The company's profit for the same periods was approximately RMB 58.4 million, RMB 52.1 million, RMB 70.5 million, and RMB 45.2 million [7]. - The gross profit margin for the fiscal years 2022, 2023, 2024, and the first eight months of 2025 was 65.8%, 59.9%, 65.6%, and 62.6% respectively [9]. Industry Insights - The global bulk commodity information service market has shown stable growth, increasing from RMB 33.7 billion in 2020 to RMB 41.2 billion in 2024, with a compound annual growth rate (CAGR) of 5.2% [15]. - The Chinese bulk commodity information service market is expected to grow from RMB 1.7 billion in 2020 to RMB 2.5 billion in 2024, with a CAGR of 10.2% [17]. - The market is characterized by an acceleration in overall expansion and continuous optimization of its structure, with data intelligence services driving significant growth [17].