Core Viewpoint - Shanghai Hehe Information Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with China International Capital Corporation as its sole sponsor, after a previous application in June 2023 [1]. Company Overview - Since its establishment, Hehe Information has focused on AI technology innovation, providing products to over a billion users globally across diverse industries. The company has over 18 years of experience in AI research and application, becoming a leader in the global text intelligence technology field, driven by its multimodal large language model [4]. - The company's business spans over 200 countries and regions, and according to Zhaoshang Consulting, it ranks first in China and fifth globally in terms of revenue among companies with over 100 million monthly active users (MAU) for efficiency AI products in 2024, maintaining strong growth [4]. Product Portfolio - Hehe Information has developed several consumer products, including "Scanner All-in-One," "Business Card All-in-One," and "Qixinbao," based on years of AI technology accumulation and user demand insights. The "Scanner All-in-One" is noted as the largest image text processing AI product globally, with over 100 million MAU and a compound annual growth rate (CAGR) of over 20% in revenue from 2022 to 2024 [4][5]. - The "Business Card All-in-One" app ranked first in the business category of free app downloads on the Apple App Store in 41 countries and regions. In 2024, the company plans to launch an online digital business card feature to explore the global digital business card market [5]. Financial Performance - The company reported revenues of approximately RMB 988 million, RMB 1.188 billion, RMB 1.438 billion, and RMB 1.303 billion for the fiscal years 2022, 2023, 2024, and the nine months ending September 30, 2025, respectively [6]. - Gross profits for the same periods were approximately RMB 827 million, RMB 1 billion, RMB 1.212 billion, and RMB 1.126 billion, with gross margins of 83.7%, 84.3%, 84.3%, and 86.4% [7]. - Net profits for the fiscal years were approximately RMB 284 million, RMB 323 million, RMB 401 million, and RMB 351 million [8]. Market Outlook - The global AI product market is projected to reach USD 46.5 billion in 2024, with over 10,000 participants, and is expected to grow to USD 228 billion by 2029, with a CAGR of 37.4% [11]. - The C-end AI product market is expected to reach USD 10.9 billion in 2024, growing to USD 77.1 billion by 2029, with a CAGR of 48.0%. Efficiency AI products are anticipated to dominate this segment, accounting for 57.5% of the total market [13][16].
新股消息 | 合合信息(688615.SH)二次递表港交所 扫描全能王已上线超15年、MAU超1亿