Group 1 - HSAI and PONY have reportedly applied for a secondary listing in Hong Kong, and now Atour is also considering a similar move [4] - Atour is collaborating with advisors to raise several hundred million dollars through the Hong Kong listing [4] - The details regarding the transaction scale and other specifics are still being finalized [4] Group 2 - Atour is a leading lifestyle group in China, primarily operating in the hotel and retail sectors [5] - According to Frost & Sullivan, Atour is the largest mid-to-high-end hotel chain in China by the number of rooms as of the end of 2024 [5] - Atour's hotel network spans 209 cities in China, with a total of 1,619 hotels and 183,184 rooms [5] - Atour was listed on NASDAQ on November 11, 2022, with a current market capitalization of approximately $4.585 billion [5]