罕见！成立1个月就IPO，创始人是港交所前CEO李小加，自称“不差钱”

Core Viewpoint - The recent IPO application by Drip Irrigation International Investment Co., Ltd. has attracted significant attention in the Hong Kong stock market, primarily due to its unique management background and the rare use of Chapter 21 of the Hong Kong Stock Exchange listing rules for its listing [1][6]. Group 1: Company Background and Management - Drip Irrigation International Investment Co., Ltd. was established on May 23 and is led by Li Xiaojia, who has a notable background as the former CEO of JPMorgan China and Hong Kong Stock Exchange [1]. - The company is associated with Drip Irrigation Group, which has faced controversies regarding its "non-equity, non-debt" investment model, particularly the Daily Revenue Sharing Contract (DRC) that has been criticized as a form of high-interest lending [1][12]. Group 2: IPO and Listing Strategy - The company is utilizing the Hong Kong Stock Exchange's Chapter 21 for its IPO, a method not seen in over a decade, which allows for cash flow investments and restricts participation to professional institutional investors only [6][7]. - Li Xiaojia emphasized that Chapter 21 is the best tool for Drip Irrigation Investment's listing, aiming to connect institutional funds to the operational platform of Drip Irrigation Group [7][8]. Group 3: Investment Model and Financial Performance - Drip Irrigation's investment model has evolved through three stages, with the current "3.0" phase focusing on expanding market recognition and attracting international capital through the IPO [12][19]. - The annualized return rates for the cash income sharing contract products have shown variability, with rates ranging from 5.63% to 27.17% in 2022, and stabilizing above 8% in 2023, although a decline in returns is anticipated starting in 2024 due to a shift in operational strategy [14][15][17]. Group 4: Market Position and Future Outlook - The successful IPO of Drip Irrigation Investment is expected to create a standardized and systematic approach to allocating funds into diverse asset classes that traditional equity and debt markets cannot effectively reach [19]. - The company aims to serve as a "converter" that transforms non-standardized financing opportunities in the real economy into standardized financial products that are more comprehensible to institutional investors [18][19].