Core Viewpoint - Hope Sea Inc., the largest integrated electronic product import supply chain solution provider in mainland China, has submitted its listing application to the Hong Kong Stock Exchange, with the application officially accepted [1]. Company Overview - Hope Sea is headquartered in Shenzhen, China, and specializes in cross-border supply chain solutions for electronic products, particularly complex integrated circuits [5][6]. - The company serves over 40 vertical industries, including IoT communication, semiconductors, smart robotics, and renewable energy [5]. - In 2024, the company's import GMV is projected to reach approximately RMB 34.8 billion, capturing a market share of 1.45% [5]. Financial Performance - The company declared zero dividends in FY2022, RMB 211 million in FY2023, and RMB 314 million in FY2024, with the controlling family receiving over RMB 500 million in dividends over two years [4]. - Revenue from supply chain solutions for FY2022, FY2023, and FY2024 was RMB 136.7 million, RMB 116.5 million, and RMB 123 million, respectively [8]. - Net income from cross-border funding arrangements for the same periods was RMB 117.1 million, RMB 104 million, and RMB 111.9 million, respectively [8]. - Total revenue from core operations was RMB 252.8 million, RMB 220.5 million, and RMB 234.9 million for FY2022, FY2023, and FY2024, respectively [8]. Market Potential - The market for cross-border supply chain services in China is expected to grow at a compound annual growth rate (CAGR) of 6.9%, increasing from RMB 10.2 trillion in 2024 to RMB 13.3 trillion by 2029 [6]. - The company is diversifying its business by developing export solutions and international logistics capabilities to support clients' global expansion strategies [7]. Ownership Structure - The company is fully controlled by the Feng family, with 76% held through the Chunhui Family Trust and 24% through the Yucheng Family Trust [8][9]. - The board consists of six members, including two executive directors and three independent non-executive directors, with Feng Sujun serving as the non-executive chairman [9][11]. Management Team - Feng Sujun, 70, has been with the company since its inception in 2001 and provides strategic direction [11]. - Feng Yang, 41, oversees all operational matters and has nearly 20 years of experience in the supply chain industry [12]. - Zhang Chengguang, 40, is the CEO and responsible for business development, with over ten years of experience in the supply chain sector [13].