Group 1 - The company, Jihong Co., Ltd. (02603), plans to conduct an initial public offering (IPO) from May 19 to May 22, 2025, offering a total of 67.91 million shares, with 10% allocated for public sale in Hong Kong and 90% for international sale [1] - The proposed price range for the shares is between HKD 7.48 and HKD 10.68, with the expected listing date for H-shares on May 27, 2025 [1] - The company operates in cross-border social e-commerce and paper packaging for fast-moving consumer goods (FMCG), providing a one-stop service for FMCG clients since its establishment in 2003 [1] Group 2 - Following its listing on the Shenzhen Stock Exchange in 2016, the company has successfully transformed and expanded its business, achieving notable results in both operational and financial aspects [2] - According to Zhi Shi Consulting, the company ranks second among B2C export e-commerce companies in China with a market share of 1.3% in 2024, focusing on the Asian market [2] - The company is also the leading paper packaging company for FMCG in mainland China, holding a market share of 1.2% in 2024 [2] Group 3 - At an offering price of HKD 9.08 per share, the company expects to net approximately HKD 505.4 million from the global offering, with around 40% allocated for overseas market expansion [2] - Approximately 35% of the funds will be used for technology development, including enhancing research and development capabilities, data analysis, and expanding revenue sources through Jimiaoyun [2] - About 15% will be allocated to expanding the brand portfolio and developing existing proprietary brands, while 10% will be used for working capital and general corporate purposes [2] Group 4 - The company has entered into cornerstone investment agreements, with cornerstone investors agreeing to purchase shares worth USD 20 million at the offering price, including Timber Kangaroo Capital Limited and Yulong International Capital Limited [3] - Notable investors include Ms. Shen Zhenyu, the chairwoman of Harbin Yuheng Pharmaceutical Co., Ltd. (002437.SZ) [3]

Core Viewpoint - The company, Jihong Holdings (02603.HK), is planning a global offering of 67.91 million H-shares, with a price range of HKD 7.48 to HKD 10.68 per share, aiming to raise approximately HKD 505 million for various business expansions and developments [1][4]. Group 1: Company Overview - Jihong Holdings was established in 2003 and focuses on providing one-stop paper packaging products and services for fast-moving consumer goods (FMCG) companies, emphasizing marketing strategies and consumer demand [1]. - The company has successfully transformed and expanded its business since its listing on the Shenzhen Stock Exchange in 2016, achieving notable results in both business and financial aspects [2]. Group 2: Market Position - According to Zhi Shi Consulting, Jihong Holdings ranks second among B2C export e-commerce companies in China with a market share of 1.3% in 2024, focusing on the Asian market [2]. - The company is also the leading paper packaging company in mainland China, holding a market share of 1.2% in the same year [2]. Group 3: Investment and Use of Proceeds - The company has entered into cornerstone investment agreements, with investors agreeing to subscribe for shares totaling USD 20 million (approximately HKD 155 million), representing about 25.2% of the global offering [3]. - The net proceeds from the global offering are expected to be approximately HKD 505 million, with allocations planned for overseas market expansion (40%), technology development (35%), brand development (15%), and working capital (10%) [4].