Core Viewpoint - Quantitative Holdings Limited has submitted its fifth listing application to the Hong Kong Stock Exchange, following four previous applications that expired due to the validity of the prospectus [1] Group 1: Financial Performance - The revenue for Quantitative Holdings in 2022, 2023, 2024, and the first five months of 2025 were RMB 475.3 million, RMB 529.7 million, RMB 993.0 million, and RMB 414.1 million respectively [3][4] - The net profit for the same periods were approximately RMB -283,000, RMB 3.6 million, RMB 147.1 million, and RMB 125.6 million respectively [3][4] - The gross profit for 2022, 2023, 2024, and the first five months of 2025 were RMB 312.8 million, RMB 367.7 million, RMB 961.9 million, and RMB 400.3 million respectively [4] Group 2: Business Operations - Quantitative Holdings operates an online marketplace focused on the Chinese consumer sector, with its e-commerce platform "Yang Xiaomiao" offering a variety of retail products since November 2020 [2] - The company launched an O2O automotive retail platform "Consumption Map" in April 2022, collaborating with car retailers to attract online traffic for offline purchases [2] - The transaction volume facilitated through the online marketplace was RMB 3.6 billion, RMB 4.9 billion, RMB 7.7 billion, and RMB 4.6 billion for the years 2022, 2023, 2024, and the first five months of 2025 respectively [2] Group 3: Customer Base and Accounts Receivable - The main customers of Quantitative Holdings include individual end customers on the "Yang Xiaomiao" platform, POP store operators, and automotive retailers [5] - Revenue from the top five customers accounted for 19.2%, 21.0%, 8.8%, and 9.9% of total revenue for the years 2022, 2023, 2024, and the first five months of 2025 respectively [5] - The accounts receivable turnover days were 157 days, 242 days, 199 days, and 254 days for the years 2022, 2023, 2024, and the first five months of 2025 respectively [5]