Core Viewpoint - Impression Dahongpao (02695.HK) has officially launched its global offering in Hong Kong, aiming to become the first "live performance stock" in the Hong Kong market [3]. Group 1: IPO Details - The company plans to issue approximately 36.1 million H-shares, with 3.61 million shares allocated for public offering in Hong Kong (about 10%) and 32.49 million shares for international offering (about 90%) [3]. - The share price is set between HKD 3.47 and HKD 4.10, with a median price of HKD 3.79, potentially raising a net amount of HKD 110.4 million if the over-allotment option is not exercised [3]. - The entry fee for investors is HKD 4,141.35 for a minimum lot of 1,000 shares, with a maximum application limit of 1,800 lots [3][4]. Group 2: Use of Proceeds - Approximately 23.0% of the net proceeds will be used to upgrade the iconic performance "Impression Dahongpao" [5]. - About 28.6% will be allocated for the development of the Impression Jianzhou Food Theme Street and the Impression Cultural Tourism Town, along with the renovation of the Wuyi Tea Museum [5]. - 20.0% will be used to inject management experience into existing cultural tourism projects, while 11.0% will enhance brand image and business influence [5]. - 7.4% is designated for upgrading the ticketing management system, and 10.0% will be used for working capital and other general corporate purposes [5]. Group 3: Business Overview - Impression Dahongpao is a state-owned cultural tourism service enterprise based in Wuyishan, Fujian Province, with three main business segments: performance and show services, Impression Cultural Tourism Town business, and tea hotel business [5]. - The performance segment includes the flagship show "Impression Dahongpao," a new show "Moonlight Wuyi" launching in May 2025, and customized performances for corporate clients [6]. - The flagship show has been a significant revenue source, being the first large-scale outdoor water and mountain performance in Fujian Province [6]. Group 4: Financial Performance - The company's revenue for the years 2022 to 2024 and the first half of 2025 were approximately RMB 63.39 million, RMB 144 million, RMB 137 million, and RMB 55.88 million, respectively [6]. - The profit and total comprehensive income for the same periods were -RMB 2.60 million, RMB 47.50 million, RMB 42.81 million, and RMB 6.78 million [6][7].
【IPO追踪】“实景演出第一股”来了，印象大红袍启动招股！