展览服务提供商米奥会展（300795.SZ）冲击A+H

Core Viewpoint - Zhejiang Miaolante Business Exhibition Co., Ltd. (Miaolante Exhibition) is planning to list on the Hong Kong main board after submitting its application to the Hong Kong Stock Exchange, with CMB International as the sole sponsor for the IPO [1]. Group 1: Business Overview - The main business line of Miaolante Exhibition involves acting as the organizer of exhibitions, overseeing the entire process including preparation, implementation, on-site operations, and post-event services [4][7]. - The company hosts exhibitions in various countries and regions, including the UAE, Indonesia, Japan, Mexico, Brazil, Vietnam, and mainland China, and also acts as an agent for other organizers by purchasing exhibition space and reselling it to exhibitors [4][7]. Group 2: Financial Performance - Revenue increased significantly from RMB 348.3 million in 2022 to RMB 835.0 million in 2023, driven by a strong market demand rebound [5][8]. - Revenue is projected to decrease to RMB 751.4 million in 2024 due to a market correction [5][8]. - For the six months ending June 30, 2024, revenue is expected to decline from RMB 260.1 million to RMB 240.8 million by June 30, 2025, attributed to a reduction in exhibitions and increased promotional activities [5][8]. - The annual profits for 2022, 2023, and 2024 were RMB 51.1 million, RMB 197.3 million, and RMB 163.0 million, respectively, with interim profits of RMB 45.8 million and RMB 20.6 million for the respective six-month periods ending June 30, 2024, and June 30, 2025 [5][8].