Xin Lang Cai Jing·2026-03-03 06:16Core Viewpoint - FS.COM Limited, a leading global provider of enterprise-level network solutions, is preparing for an IPO on the Hong Kong Stock Exchange, having submitted its prospectus after hearing on March 2, 2026 [2]. Business Overview - Established in 2009, FS.COM Limited offers scalable, cost-effective, and one-stop network solutions through its online sales platform, catering to high-performance computing, data centers, enterprise networks, and telecommunications [4][6]. - According to Frost & Sullivan, FS.COM is the second-largest online DTC network solutions provider globally, with a market share of 6.9% as of 2024 [4]. - The company has served over 500,000 customers across more than 200 countries and regions, including approximately 60% of Fortune 500 companies [4]. Product and Service Offering - FS.COM's product range includes over 120,000 SKUs, covering optical modules, high-speed cables, switches, and other networking products [6]. - The company integrates network architecture design, multi-vendor procurement, and after-sales support into a unified platform, enhancing the customer experience [6]. Financial Performance - FS.COM's revenue for the years 2022, 2023, 2024, and the first nine months of 2025 was RMB 1.988 billion, RMB 2.213 billion, RMB 2.612 billion, and RMB 2.175 billion, respectively [15]. - The corresponding net profits were RMB 365 million, RMB 457 million, RMB 397 million, and RMB 423 million [15]. Shareholder Structure - Prior to the IPO, the major shareholder is Mr. Xiang Wei, holding 56.65% of the shares, with a total of 61.16% controlled through three employee incentive platforms [9]. Management Team - The board of directors consists of seven members, including two executive directors, two non-executive directors, and three independent non-executive directors [11][12].