财经连线 | 冲关“A+H”，卓创资讯加速全球化布局

Core Viewpoint - Zhuochuang Information (卓创资讯) has been preparing for its dual listing in Hong Kong for nearly four months, but its stock performance in the A-share market has been lackluster, with a decline from 56.59 to 53.64 yuan per share over the past nine trading days [1][3]. Group 1: Company Performance - Zhuochuang Information announced a cash dividend of 0.10 yuan per share for Q3 2025, with a total of 300 million yuan distributed in three dividends since its listing [4]. - The company's stock price has increased from 29.99 yuan at its IPO in October 2022 to 53.64 yuan as of December 11, 2025, representing a growth of over 1.78 times, with a total market capitalization of approximately 3.239 billion yuan [4]. - Revenue figures for Zhuochuang Information from 2022 to 2024 were 273 million yuan, 284 million yuan, and 294 million yuan, with year-on-year growth rates of 3.9% and 3.8%, indicating stable growth [4]. - In the first eight months of 2025, the company achieved revenue of 229 million yuan, reflecting a year-on-year growth rate of 18.77% [5]. Group 2: Industry Position - Zhuochuang Information holds a significant position in the Chinese bulk commodity information service industry, ranking second with a market share of 10.6% as of 2024, and is the leader in the energy commodity sector [6]. - The company's overseas revenue has increased from 19.59 million yuan in 2022 to 32.72 million yuan in 2024, with the overseas revenue share rising from 7.18% in 2023 to 10.12% in 2024 [10]. Group 3: Challenges and Future Prospects - Zhuochuang Information's journey to list on the Hong Kong Stock Exchange is uncertain, with past experiences of delays and challenges during its A-share listing process [7][8]. - The company faces questions regarding its fundraising efficiency and project delays, as significant funds raised in the A-share market remain underutilized [11]. - New projects, including a large commodity big data platform and a price benchmark system, have been delayed, with completion dates pushed to 2027 and December 2025, respectively [11].