Core Viewpoint - Dahang Technology (Shenzhen) Co., Ltd. has submitted its second listing application to the Hong Kong Stock Exchange, with CITIC Securities International as its sole sponsor [1]. Company Overview - Dahang Technology is a well-known folding bicycle company founded by Dr. Han Dewei in 1982, recognized for its technical strength, innovation, craftsmanship, and commitment to product quality [3]. - The company holds a significant market position in China's folding bicycle industry, with a market share of 26.3% in terms of retail volume and 36.5% in terms of retail value for 2024 [3]. Product Range and Innovation - The company offers a comprehensive range of over 70 bicycle models, including folding bicycles, road bikes, mountain bikes, children's bikes, and electric assist bikes, catering to various consumer needs [3][4]. - Dahang Technology has invested in R&D, holding the most patents in the Chinese folding bicycle industry, with 113 valid patents in mainland China and 22 in the US, Europe, and Japan as of April 30, 2025 [4]. Sales and Distribution Network - The company has established an efficient sales and distribution network across mainland China, collaborating with 38 distributors covering 680 retail points and expanding into online channels [4]. - Its products are also sold in 28 other countries and regions, including Southeast Asia, the US, and Europe, although this accounts for a relatively small portion of overall sales [4]. Financial Performance - The company has shown strong business and financial growth, with sales increasing from 148,956 units in 2022 to 156,877 units in 2023, and projected to reach 229,525 units in 2024, reflecting a compound annual growth rate of 24.1% [5][6]. - Revenue figures for the fiscal years ending April 30 are as follows: approximately CNY 254.2 million in 2022, CNY 300.2 million in 2023, CNY 450.7 million in 2024, and CNY 185.0 million for the four months ending April 30, 2025 [6][7].