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Core Viewpoint - Shanghai Sunmi Technology Group Co., Ltd. (Sunmi Technology) is preparing for its IPO on the Hong Kong Stock Exchange, with Deutsche Bank, CITIC Securities, and Agricultural Bank of China International as joint sponsors [1] Company Overview - Sunmi Technology is a leading provider of Business Internet of Things (BIoT) solutions globally, integrating smart hardware, software, and data insights to enable digital transformation in various offline business scenarios [3] - The company holds over 10% market share in the Android BIoT solutions sector, making it the largest provider in this category as of 2024 [3] - The Android BIoT solutions market is expected to grow at a compound annual growth rate (CAGR) of 23.7% from 2024 to 2029 [3] Product and Service Offerings - Sunmi Technology's BIoT solutions include smart devices and a BIoT PaaS platform, which supports efficient management and optimization of transactions and operations for merchants [4] - The company has served over 70% of the top 50 global food and beverage companies and has achieved over 70% coverage among China's top 100 restaurant brands [4] - Sunmi's solutions are deployed in over 200 countries and regions, covering more than 90% of the global market, including all G20 countries [4] Financial Performance - The company's revenue for the fiscal years 2022, 2023, and 2024, as well as for the nine months ending September 30, 2025, were approximately RMB 3.404 billion, RMB 3.071 billion, RMB 3.456 billion, and RMB 2.241 billion respectively [5][6] - The net profit for the same periods was approximately RMB 160 million, RMB 101 million, RMB 181 million, and RMB 56 million respectively [5][6] - The majority of the company's revenue has come from overseas markets, accounting for 76.0%, 67.7%, 78.0%, 76.6%, and 71.0% of total revenue in the respective years [4]