Core Insights - The article discusses the recent developments of Shouhui Group, a leading online insurance intermediary in China, which has passed the Hong Kong Stock Exchange hearing and is preparing for an IPO [1] Group 1: Company Overview - Shouhui Group, established in 2015, is the second-largest online insurance intermediary in China, holding a 7.3% market share in long-term life insurance premiums as of 2023 [1][3] - The company operates three main platforms: Xiaoyusan for direct online distribution, Kachabao for distribution through agents, and Niubao100 for partner-assisted distribution [1] Group 2: Product Offerings - Since its inception, Shouhui Group has distributed over 1,900 products, including more than 280 customized products and over 1,600 existing products from insurance companies [2] - As of December 31, 2024, the company has 306 products available for sale and has successfully incubated over 14 IPs covering various insurance types [2] Group 3: Financial Performance - From 2022 to 2024, Shouhui Group's revenue figures were 806 million, 1.634 billion, and 1.387 billion respectively, with gross margins of 34.8%, 33.8%, and 38.1% [3] - The adjusted net profits for the same period were 75 million, 253 million, and 242 million, with adjusted net profit margins of 9.3%, 15.5%, and 17.4% [3] Group 4: Investment and Future Plans - Shouhui Group has received investments from notable institutions such as Xintian Venture Capital, Sequoia China, and others [4] - The funds raised from the IPO will primarily be used to enhance sales and marketing networks, improve service capabilities, and invest in research and development [4]