Core Viewpoint - The Hong Kong Stock Exchange is set to witness the simultaneous listing of three new stocks: Rongda Technology, Xinqi'an, and MetaLight, all of which have seen extremely high subscription rates, exceeding 100 times [1][5]. Group 1: Rongda Technology - Rongda Technology is a global supplier of Automatic Identification and Data Capture (AIDC) devices and solutions, involved in the design, research, manufacturing, and marketing of printing devices, scales, POS terminals, and PDAs [6]. - The global AIDC device market is projected to grow from USD 60.8 billion in 2018 to USD 90.1 billion in 2023, with a compound annual growth rate (CAGR) of 8.2% [6]. - In 2023, Rongda Technology's revenue is expected to be approximately HKD 348.7 million, with a net profit increase from HKD 27.6 million in 2023 to HKD 41.3 million in 2024 [7]. Group 2: Xinqi'an - Xinqi'an is a leading manufacturer of food-grade glycine and sucralose, holding the top position in the global food-grade glycine manufacturing industry by sales volume and revenue [8]. - The company's revenue decreased by approximately 41.3% from HKD 761.5 million in 2022 to HKD 446.9 million in 2023, primarily due to a decline in average selling prices [9]. - Revenue is expected to rebound by 27.3% to approximately HKD 568.9 million in 2024, driven by increased sales volume [9]. Group 3: MetaLight - MetaLight operates a mobile app called "Che Laile," which provides real-time public transport information using big data analytics, with mobile advertising accounting for 85.2% to 98.0% of total revenue from 2022 to 2024 [10][11]. - The app has a significant user base, with approximately 298.4 million cumulative users by the end of 2024, and covers 274 cities in China [10]. - MetaLight's revenue is projected to grow from HKD 135.4 million in 2022 to HKD 206.1 million in 2024, with adjusted net profits increasing from HKD 9.8 million to HKD 54.2 million during the same period [11].

Core Viewpoint - Yuan Guang Technology, the parent company of Che Lai Le, is launching a global IPO with a share price of HKD 9.75, expected to be listed on the Hong Kong Stock Exchange on June 10 [1][3] Financial Performance - Revenue projections for Yuan Guang Technology from 2022 to 2024 are CNY 135 million, CNY 175 million, and CNY 206 million respectively, with adjusted net profits of CNY 9.814 million, CNY 46.495 million, and CNY 54.219 million [1][4] - The company's total assets increased from CNY 185 million in 2022 to CNY 224 million in 2023, remaining at CNY 224 million in 2024 [5] Revenue Structure - The revenue structure is heavily reliant on advertising, with 85% and 96.2% of revenue coming from advertising in 2022 and 2023, respectively, and projected to rise to 98% in 2024 [1][4] - Programmatic advertising accounted for 74.6%, 85.5%, and 93.1% of total revenue from 2022 to 2024 [3] User Engagement - The average monthly active users for Che Lai Le from 2022 to 2024 are projected to be 21.473 million, 25.26 million, and 29.082 million respectively [4] - Che Lai Le operates in 274 cities with a cumulative user base of approximately 298 million as of December 31, 2024 [3] Membership and Services - Che Lai Le offers a membership program with a single benefit of an ad-free experience, priced at CNY 2.8/month, CNY 6.8/quarter, and CNY 19.8/year [4] - The company also provides data analysis products and services to enterprises and government, contributing 2% of revenue in 2024, down from 14.8% in 2022 [4]