Core Insights - The China Securities Regulatory Commission has approved LeMo Technology Service Co., Ltd. for overseas issuance and listing, allowing the company to issue up to 19.17 million shares for listing on the Hong Kong Stock Exchange [1] - The company aims to convert a total of 17,670,420 shares held by 16 shareholders from unlisted domestic shares to overseas listed shares [1] Company Overview - LeMo Technology Service Co., Ltd. provides massage services through machine-operated equipment located in high-traffic public areas across China [3] - Established in 2014, the company launched the "LeMo Bar" brand in 2016, offering consumers the ability to pay via QR code for massage services in commercial complexes, cinemas, and transportation hubs [3] Market Position - According to Frost & Sullivan, LeMo ranks first among all machine massage service providers in China by transaction volume, with market shares of 33.9%, 37.3%, and 42.9% for the years 2022 to 2024 respectively [3] - By revenue, LeMo is also projected to hold over 50% market share in the Chinese machine massage market by 2024 [3] Shareholder Information - A detailed list of shareholders and the number of shares they are converting to full circulation is provided, with the largest shareholder, Xie Zhonghui, holding 1,048,777 shares [4]

Core Insights - The China Securities Regulatory Commission has approved LeMo Technology Service Co., Ltd. to issue up to 19.17 million overseas listed ordinary shares and list them on the Hong Kong Stock Exchange [1] - The company aims to convert a total of 17,670,420 shares held by 16 shareholders from unlisted domestic shares to overseas listed shares [1] Company Overview - LeMo Technology Service Co., Ltd. provides massage services through machine-operated massage equipment located in high-traffic public areas across China [3] - Established in 2014, the company launched the "LeMo Bar" brand in 2016, offering consumers machine massage services in commercial complexes, cinemas, and transportation hubs such as airports and high-speed rail stations [3] - The company ranks first among all machine massage service providers in China by transaction volume, with market shares of 33.9%, 37.3%, and 42.9% for the years 2022, 2023, and 2024 respectively [3] Shareholder Information - A detailed list of shareholders and the number of shares they are applying to convert to full circulation is provided, with the largest shareholder, Xie Zhonghui, holding 1,048,777 shares [4] - The total number of shares applied for full circulation by all shareholders amounts to 17,670,420 shares [4]

Core Viewpoint - Fujian Lemo IoT Technology Co., Ltd. (Lemo) has submitted its listing application to the Hong Kong Stock Exchange for the second time this year, with CITIC Securities International and Shenwan Hongyuan Hong Kong as joint sponsors [1] Company Overview - Lemo provides massage services through machine massage equipment located in densely populated public areas across China [3] - The company ranks first among machine massage service providers in China by transaction volume, with market shares of 33.9%, 37.3%, and 42.9% for the years 2022, 2023, and 2024 respectively [3] - By revenue, Lemo is also projected to hold over 50% market share in the Chinese machine massage market in 2024 [3] Market Size and Growth - The machine massage service market in China is expected to reach RMB 2.7 billion in 2024, representing approximately 0.5% of the overall massage market, which is projected to be RMB 536.2 billion [3] - Lemo's market share in the overall massage market is estimated to be around 0.2% in 2024 [3] Service Network Expansion - As of July 18, 2025, Lemo has established over 48,000 service points and deployed more than 535,000 machine massage devices across 31 provincial-level administrative regions and 339 cities in China [4] - The number of service points increased from 21,727 on December 31, 2022, to 45,993 by December 31, 2024, reflecting a compound annual growth rate (CAGR) of approximately 45.49% [4] Consumer Reach - Lemo has a strong market position with over 165 million identifiable service users and more than 32 million registered members as of July 18, 2025 [4] Business Strategy - The company has effectively implemented a business expansion strategy, systematically increasing its service points across various consumer scenarios, including commercial complexes, cinemas, and transportation hubs [6] - Lemo has achieved significant coverage milestones, including 5,132 service points in commercial complexes over 30,000 square meters, 1,237 cinemas with annual box office revenues exceeding RMB 5 million, and 23 airports with annual passenger traffic over 10 million [6] Financial Performance - Lemo's revenue for the fiscal years 2022, 2023, 2024, and the three months ending March 31, 2025, were approximately RMB 330.15 million, RMB 586.84 million, RMB 798.00 million, and RMB 221.07 million respectively [7] - The net profit and total comprehensive income for the same periods were RMB 6.48 million, RMB 87.34 million, RMB 85.81 million, and RMB 23.34 million respectively [7]