Core Viewpoint - LeMo Technology Service Co., Ltd. (乐摩科技) has successfully listed on the Hong Kong Stock Exchange, with a closing price of 54.5 HKD, reflecting a 36.25% increase from its opening price of 64.8 HKD [1] Group 1: Company Overview - LeMo Technology issued a total of 5,555,600 shares, with 555,600 shares allocated for public offering and 5,000,000 shares for international offering [2] - The final offering price was set at 40.00 HKD, raising a total of 222.22 million HKD, with a net amount of 182.16 million HKD after deducting estimated listing expenses of 40.06 million HKD [5][6] - The company provides massage services through machine-operated devices located in high-traffic public areas across China [6] Group 2: Financial Performance - Revenue figures for LeMo Technology from 2022 to 2025 (up to August) are as follows: 330.15 million RMB in 2022, 586.84 million RMB in 2023, 797.99 million RMB in 2024, and 630.73 million RMB in 2025 [7][8] - The corresponding profit figures for the same periods are: 6.48 million RMB in 2022, 87.34 million RMB in 2023, 85.81 million RMB in 2024, and 88.55 million RMB in 2025 [8] - The company’s operating cash flow for the same periods is reported as 83.31 million RMB in 2022, 164.28 million RMB in 2023, and projected 190.45 million RMB in 2025 [9] Group 3: Industry Context - The machine massage service market in China is projected to reach only 2.7 billion RMB by 2024, representing a mere 0.5% of the overall massage market, which is expected to grow to 676.9 billion RMB by 2029 [10] - The demand for machine massage services is characterized as "non-rigid," with consumers often prioritizing other activities over massage, leading to underutilization of the machines [10] - Competition from traditional massage services poses a significant challenge, as consumers often prefer the personalized experience offered by professional massage establishments over the standardized services of shared massage chairs [11]
乐摩科技港股募资2亿港元首日涨36% 行业天花板隐现