Core Viewpoint - Chao Hong Ji (潮宏基) has submitted an application for a main board listing on the Hong Kong Stock Exchange, aiming to enhance its global strategy and international competitiveness [1][2] Group 1: Financial Performance - The company projects a compound annual growth rate (CAGR) of 21.6% for total revenue from 2022 to 2024, with total revenue of 4.062 billion yuan in the first half of 2025, representing a year-on-year growth of 19.6% [1] - For the first half of 2025, the company reported a net profit of 331 million yuan, reflecting a year-on-year increase of 44.34% [2] - The company plans to distribute a dividend of 1 yuan per 10 shares (including tax) [2] Group 2: Market Position and Strategy - Chao Hong Ji ranks ninth in the jewelry market with a market share of 0.8%, while the top five companies hold a combined market share of 31.8% [1] - The company leads in specific segments such as gold string beads and fashion jewelry, with a market share of 1.4% in the fashion jewelry market [1] - The company aims to expand its overseas business, planning to open 20 self-operated stores abroad by the end of 2028 and establish a headquarters in Hong Kong [2] Group 3: Operational Highlights - As of June 30, 2025, the company operates 1,542 jewelry stores, with 202 self-operated and 1,337 franchised stores, maintaining a balanced presence in first-tier and new first-tier cities [1] - The company has seen a 70.64% year-on-year increase in net profit from its online sales subsidiary, Guangdong Chao Hui Network Technology Co., Ltd., due to effective adjustments in third-party online platforms [2] - The company is focusing on enhancing its franchise channel and overseas market layout to improve single-store operational efficiency [2]