新股消息 | 印象大红袍通过港交所聆讯，“实景演出第一股”即将登陆港股

Core Viewpoint - Impression Dahongpao Co., Ltd. has successfully passed the Hong Kong Stock Exchange hearing, moving closer to its IPO, with joint sponsors being Xingsheng International and Kaisheng Capital [1] Business Overview - The core business revolves around the live performance "Impression Dahongpao," created by the "Impression Triad" directors Zhang Yimou, Wang Chaoge, and Fan Yue, which has become a significant revenue source, contributing approximately 90% of the company's total income [2] - The performance has been held over 6,700 times, attracting more than 9 million visitors, and ranks third in the 2024 China tourism live performance box office [2] - The company also operates Impression Cultural Tourism Town and Tea Soup Hotel, creating a comprehensive consumption scenario of "performance + sightseeing + accommodation" [2] - A new performance themed around Zhuzi culture, "Moonlight Wuyi," is set to launch in 2025 to establish a second growth curve [2] Financial Perspective - The financial performance of Impression Dahongpao shows strong reliability and investment potential, with significant revenue growth and profitability [3] - Revenue figures for 2022, 2023, and 2024 are 63.039 million, 144 million, and 137 million respectively, with a 128.57% year-on-year increase in 2023, leading to a net profit of 47.504 million [3] - The gross profit margins for 2023 and 2024 are 57.8% and 54.6%, indicating high profitability from the core performance business [3] - The company has a healthy debt structure with no significant interest-bearing debt pressure, ensuring sufficient cash flow for daily operations [3] Fundraising Purpose - The IPO fundraising will focus on upgrading existing business and expanding new ventures, including enhancing the quality of the "Impression Dahongpao" performance and developing Impression Cultural Tourism Town [4] - Funds will also be allocated for acquiring new quality cultural tourism performance projects and improving operational support, including brand promotion and ticket management system upgrades [4] - The successful IPO will fill a gap in the Hong Kong live performance sector and enhance the company's brand influence, contributing to the regional cultural tourism industry's development [4]