Core Viewpoint - Xunzhong Communication Technology Co., Ltd. plans to issue 30.44 million H-shares and is expected to be listed on the Hong Kong Stock Exchange on July 9, 2025, aiming to raise approximately HKD 4.12 billion to HKD 4.61 billion [1][3]. Company Overview - Xunzhong Communication is a full-stack cloud communication service provider, with its main business including cloud communication services, intelligent communication solutions, and other communication solutions [4]. - The company was established in September 2008 and is currently listed on the New Third Board since June 16, 2015 [3][4]. Financial Performance - Revenue for 2022, 2023, and 2024 was approximately RMB 810 million, RMB 916 million, and RMB 918 million, respectively, with gross profits of RMB 195 million, RMB 196 million, and RMB 203 million [5][6]. - Net profits for the same years were RMB 74.66 million, RMB 76.58 million, and RMB 50.64 million [5][6]. Fundraising and Use of Proceeds - The expected share price range is HKD 13.55 to HKD 15.15, with a median price of HKD 14.35, leading to a net fundraising amount of approximately HKD 3.91 billion [3][6]. - The company plans to allocate approximately 45.4% of the raised funds for continuous improvement and development of services and solutions, 15.6% for expanding sales channels, 16.2% for acquisitions in China, 12.8% for repaying outstanding loans, and 10.0% for working capital and other general corporate purposes [6]. Key Shareholders - Major shareholders include Park Seong-geun, Chengdu Unicom Innovation Investment, and Huagai Capital, with Park Seong-geun being the largest shareholder holding 27.36% [4].

Core Viewpoint - Xunzhong Communication Technology Co., Ltd. is seeking to go public on the Hong Kong Stock Exchange after previous attempts to list on other exchanges were unsuccessful [1][3]. Group 1: Company Overview - Xunzhong was established in September 2008 and is currently listed on the New Third Board with the code "832646" [1][3]. - The company has a registered capital of approximately RMB 91.31 million and its major shareholders include Park Seong-geun, Chengdu Unicom Innovation Investment, and Huagai Capital [3]. Group 2: Financial Performance - Xunzhong's revenue for 2022, 2023, and 2024 is approximately RMB 810 million, RMB 916 million, and RMB 918 million, respectively [4][5]. - Gross profit for the same years is approximately RMB 195 million, RMB 196 million, and RMB 203 million, while net profit is approximately RMB 74.66 million, RMB 76.58 million, and RMB 50.64 million [4][5]. - The company's revenue primarily comes from cloud communication services and intelligent communication solutions, with cloud communication service revenue accounting for 85.8%, 92.9%, and 94.4% of total revenue in 2022, 2023, and 2024, respectively [5]. Group 3: Listing Plans - After a failed attempt to be acquired by Dahua Intelligent, Xunzhong initiated an independent listing process, first targeting the Beijing Stock Exchange and later shifting focus to the Hong Kong Stock Exchange [3]. - The company plans to use the funds raised from the IPO for continuous improvement and development of services and solutions, expanding sales channels, potential acquisitions in China, and general corporate purposes [3].