Company Overview - Shenzhen Hongye Jiyuan Geotechnical Technology Co., Ltd. (referred to as Hongye) has submitted its listing application to the Hong Kong Stock Exchange, with Guangyin International as its sole sponsor [1] - This marks the second attempt by Hongye to list on the Hong Kong Stock Exchange, having previously submitted an application in April 2025 after an unsuccessful A-share IPO in 2021 [1] Financial Performance - Hongye's revenue for the years 2022, 2023, and 2024 is reported as RMB 1.228 billion, RMB 1.112 billion, and RMB 1.011 billion respectively, with gross profits of RMB 190 million, RMB 210 million, and RMB 240 million [1][3] - For the first nine months of 2025, the company reported revenue of RMB 780 million, a slight decrease of 2% from RMB 795 million in the same period of the previous year, while net profit increased to RMB 60.99 million from RMB 58.55 million [2][3] Market Analysis - The geotechnical engineering market in China has grown from RMB 870.8 billion in 2020 to an estimated RMB 952 billion by 2024, reflecting a compound annual growth rate (CAGR) of 2.3% [4] - The market is expected to recover and grow due to a rebound in infrastructure and real estate investments, with projections indicating a market size of RMB 1.3049 trillion by 2029, representing a CAGR of 6.5% from 2025 to 2029 [4] Shareholder Structure - The controlling shareholder of Hongye is Chen Zhidong, who directly holds 35.65% of the shares, while his spouse, Wang Fengmei, holds an indirect stake of 2.96% [5] - Together, Chen and Wang control 38.61% of the company, with other significant shareholders including Hongye Investment and Hongbin Investment [5]
IPO雷达｜宏业基“二战”港交所，毛利率逐年上涨一路向好，营收却有下滑趋势
Sou Hu Cai Jing·2026-02-19 08:06