Core Viewpoint - Lansheng Co., Ltd. has over 20 years of experience in the exhibition industry and is backed by the Shanghai State-owned Assets Supervision and Administration Commission, providing it with rich shareholder resources [1] Industry Overview - The global exhibition industry is continuously growing, with a full recovery in 2023 after disruptions from public health events, and average revenues have returned to 2019 levels [1] - The global exhibition market is expected to grow by 16% year-on-year in 2024 [1] - China's exhibition infrastructure is improving, with large exhibition venues ranking among the best globally, providing a solid foundation for hosting large-scale events [1] - The distribution of exhibitions is concentrated in first-tier cities, which dominate the market [1] - The industrial sector is the leading segment in the exhibition industry, with significant growth observed in industrial and technology-related exhibitions [1] Company Strategy - The company is advancing its "Exhibition China" and "Exhibition International" strategies, replicating successful exhibitions in different domestic locations and organizing international exhibitions as a dual-driven approach [1] - As a leading domestic exhibition company, Lansheng Co., Ltd. has strong ties with numerous influential government IPs and has deepened its presence in Shanghai, which serves as China's exhibition hub [1] - The company is actively pursuing strategies in "Exhibition China," "Exhibition International," and "Exhibition Digital," indicating high barriers to entry and vast growth potential [1] - The initial coverage of the company has been rated as "Buy" [1]