Company Overview - Shouxihu, a company listed on the New Third Board, plans to issue H-shares in Hong Kong, becoming the second New Third Board tourism enterprise to do so after Yanjing Shares [1] - Established in 2006, Shouxihu primarily offers various types of water sightseeing services based on high-quality tourism resources in Yangzhou, including the Shouxihu Scenic Area and the Grand Canal [1] - The company is the only water sightseeing service provider in Yangzhou and holds exclusive operating rights for water sightseeing services in the Shugang-Shouxihu Scenic Area [1] Financial Performance - Shouxihu's revenue has fluctuated significantly in recent years, with a reported revenue of 112 million yuan in the previous year, of which 96.04 million yuan came from boat ticket sales [1] - In 2017, when the company entered the New Third Board, boat revenue was approximately 41.26 million yuan, accounting for over 96% of total revenue [1] - For 2024, the boat revenue is projected to reach 96.04 million yuan, while other revenue streams include 9.23 million yuan from sightseeing vehicles and 7.04 million yuan from management operations [1] Investment and Valuation - The chairman of Shouxihu, Xu Shunmei, is a female executive born in July 1970, who also serves as the director of Yangzhou Shouxihu Tourism Development Group [2] - In June 2023, Shouxihu raised approximately 28.56 million yuan by issuing about 2.8 million shares at a price of 10.21 yuan per share, primarily for employee salaries and procurement [2] - The investment was backed by the Jiangsu Grand Canal (Yangzhou) Cultural Tourism Development Fund, which acquired a 10% stake in Shouxihu, estimating the company's market value at around 300 million yuan [2] - The financing round includes a performance agreement requiring Shouxihu to achieve an IPO by December 31, 2027, or face a potential buyback mechanism [2]