Core Viewpoint - Impression Dahongpao Co., Ltd. is set to launch an IPO with a target fundraising amount of HKD 125 million to HKD 148 million, indicating strong market interest in cultural tourism services [1][5]. Company Overview - Impression Dahongpao is a state-owned cultural tourism service enterprise based in Wuyishan, Fujian Province, focusing on cultural tourism performances and comprehensive tourism services [3]. - The company operates three core business segments: performance and show services, Impression Cultural Tourism Town business, and tea hotel business [3]. Performance and Revenue - The primary revenue source for the company is its flagship performance "Impression Dahongpao," which is a significant part of the Wuyishan tourism experience [3]. - The company ranks third in box office revenue among all tourism landscape performances in China for 2024, showcasing its competitive advantage in the cultural tourism market [3]. Financial Performance - The company has shown steady operational performance with net profits recorded for the years ending 2022, 2023, and 2024, as well as for the first half of 2025 [5]. - The net profits for the respective years are as follows: RMB -2.599 million (2022), RMB 47.504 million (2023), RMB 42.809 million (2024), and RMB 6.775 million (2025) [4][5]. - The gross profit margin and operating profit margin have shown positive trends, indicating robust financial health [5].

Group 1 - The company plans to globally offer 36.10 million shares, with 3.61 million shares available in Hong Kong and 32.49 million shares for international sale, along with an over-allotment option of 5.415 million shares [1] - The subscription period is set from December 12 to December 17, with a maximum offer price of HKD 4.10 per share, and the entry fee is approximately HKD 4,141.35 for a board lot of 1,000 shares [1] - The total expected fundraising amount is HKD 137 million, with a net amount of HKD 110 million, which will be used for various development projects and operational enhancements [1] Group 2 - The company's main business includes performance operations, event management, cultural and artistic exchanges, ticketing services, and tourism development [2] - The net profit for the fiscal years 2023, 2024, and the first half of 2025 is projected to be HKD 47.504 million, HKD 42.859 million, and HKD 10.226 million, reflecting year-on-year changes of 1,927.78%, -9.78%, and -19.35% respectively [2]

The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no responsibility for the contents of this Application Proof, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Application Proof. Application Proof of Impression Dahongpao Co., Ltd. 印象大紅袍股份有限公司 (A joint stock company incorporated in the People's Republic of China wi ...