印象大红袍通过港交所聆讯，即将在港上市！

Core Viewpoint - Impression Dahongpao Co., Ltd. has passed the main board listing hearing and will become the first publicly listed company in China's cultural tourism performance industry focused on live performances [1][8] Group 1: Company Overview - The company is rooted in Wuyishan and has been directed by the "Impression Iron Triangle" since its first performance in 2010, with the large-scale live performance "Impression Dahongpao" becoming a cultural landmark [1][8] - The performance has been staged over 6,700 times and has received more than 9 million audience members, showcasing tea culture through a unique 360-degree rotating audience seating [1][10] Group 2: Industry Position - In 2024, "Impression Dahongpao" is ranked third in China's mountain water live performance box office and has helped the company rank eighth in the national cultural tourism performance market [2][10] - The performance has contributed approximately 90% of the company's revenue in recent years, serving as the core driver of its growth [2][10] Group 3: Business Expansion - The company is actively expanding its business by operating "Impression Cultural Tourism Town" and "Tea Soup Hotel," gradually building an integrated cultural tourism scene of "performance viewing + sightseeing experience + accommodation leisure" [4][11] - In 2025, the company plans to launch a new performance themed around Zhuzi culture, titled "Moon Reflecting Wuyi," aimed at creating a second growth curve and diversifying its business structure [4][11] Group 4: Financial Performance - The company has demonstrated strong profitability and cash flow, with revenues of 63.04 million yuan, 144 million yuan, and 137 million yuan from 2022 to 2024, respectively [7][14] - In 2023, the company achieved a significant revenue growth of 128.57% year-on-year, turning a profit with a net profit of 47.50 million yuan, and is expected to maintain a net profit of 42.81 million yuan in 2024 [7][14] - Even in the traditional off-season of 2025, the company achieved revenue of 5.6 million yuan and a net profit of 677.5 thousand yuan [7][14] - The company maintains a high gross margin, a healthy debt structure with no significant interest-bearing debt, and ample cash flow [7][14] Group 5: Future Plans - The funds raised from the listing will be primarily used for upgrading the hardware and content presentation of the core performance "Impression Dahongpao," promoting diversified project layouts, and enhancing brand promotion and operational optimization for long-term development [7][14] - The move to the Hong Kong stock market fills a gap for live performance companies in the capital market and signifies a confident step for Chinese cultural performance enterprises in building an ecosystem of "performance + cultural tourism + hotels" [7][14]