Market Overview - The A-share market experienced an overall upward trend on September 30, with the Sci-Tech 50 Index showing strong performance, reaching a new high for the year with an intraday increase of over 2% [4][3] - New stocks listed on both A-share and Hong Kong markets performed well, with A-share's Yunhan Xincheng (301563) seeing an intraday increase of over 400%, potentially yielding a profit of approximately 57,500 yuan per lot, ranking among the top for the year [9][2] New Stock Performance - Yunhan Xincheng is an innovative high-tech enterprise focusing on the distribution of electronic components and industrial internet integration, with a B2B online marketplace supporting over a million searches daily and a matching rate of 90% [11] - Another new stock, Ruili Kemi, saw an intraday increase of nearly 90%, specializing in active safety systems for vehicles and becoming a leading enterprise in the commercial vehicle safety system sector [12][13] - In the Hong Kong market, three new stocks were listed, with Xipuni experiencing an intraday increase of nearly 340% and currently maintaining a rise of about 250% [12][18] Sector Performance - The non-ferrous metals sector saw significant gains, with an intraday increase exceeding 2%, and stocks like Platinum New Materials and Bokin New Materials hitting their daily limit [6][5] - Other sectors such as defense, electric equipment, real estate, and computers also showed strong performance, while sectors like communications and non-bank financials weakened [7] Gold Market - Gold and silver prices continued to rise, with domestic gold futures reaching a historical high, surpassing 870 yuan per gram [5]

Core Viewpoint - The A-share market experienced an overall upward trend, with the Sci-Tech 50 Index reaching a new high for the year, driven by strong performances from newly listed stocks and specific industry sectors [2][3]. Group 1: Market Performance - The A-share market saw significant gains, with major indices rising, particularly the Sci-Tech 50 Index, which had an intraday increase of over 2% [3]. - New stocks listed on the A-share market performed exceptionally well, with Yunhan Xincheng (301563) showing an intraday gain of over 400%, potentially yielding a profit of approximately 57,500 yuan per lot [10][9]. - In the Hong Kong market, three new stocks were listed, with Xipuni reaching an intraday increase of nearly 340% [12][16]. Group 2: Industry Highlights - The non-ferrous metals sector experienced a significant rise, with intraday gains exceeding 2%. Notable stocks included Platinum New Materials, which surged by 18%, and several others reaching their daily limit [5][6]. - Gold and silver prices continued to rise, with domestic gold futures surpassing 870 yuan per gram, indicating strong demand in the precious metals market [7]. - Key sectors such as defense, electric equipment, real estate, and computing showed notable gains, while sectors like communications and non-bank finance faced declines [7]. Group 3: New Stock Details - Yunhan Xincheng focuses on electronic component distribution and integrates digital technology for efficient supply chain services, boasting over 696,500 registered users and processing peak orders of 68,000 monthly [12]. - Ruili Kemi, another new stock, specializes in active safety systems for vehicles, showcasing significant technological capabilities in the automotive sector [15][16]. - In the Hong Kong market, Xipuni, a leading manufacturer of gold watch cases, reported a revenue increase from 324 million yuan to 457 million yuan from 2022 to 2024, reflecting a strong growth trajectory [18].

| 02583 西普尼 | | | | --- | --- | --- | | 84.000↑+54.400 +183.78% 等待开盘 09/30 09:20 | | | | * % 9 目 ♡ | | 快捷交易 | | 最高价 84.000 | 开盘价 84.000 | 成交量 131.08万 | | 最低价 84.000 | 昨收价 29.600 | 成交额 8939.11万 | | 平均价 68.195 | 市福率 62.92 | 总市值 49.41亿 (…) | | 振 幅 -- | 市盈率(静) 92.71 | 总股本 5882.5万 | | 换手率 2.23% | 市净率 6.448 | 流通值 49.41亿 | | 52周最高 84.000 | 委 比 -33.33% | 流通股 5882.5万 | | 52周最低 84.000 | 量 比 -- | 岳 手 100股 | | 历史最高 84.000 | 股息ITM -- | 股息率TM -- | | 历史最低 84.000 | 股息LFY -- | 股息率LFY -- | 西普尼(2583.HK)今日首日在港挂牌上市，高开183.78%报84 ...

Group 1 - Three new stocks are set to be listed in Hong Kong, with significant gains observed in the dark market trading prior to their official listing [1] - Zijin Mining's spinoff, Zijin Gold International, closed at HKD 108.6 in dark trading, up HKD 37.01 or 51.7% from its offering price of HKD 71.59, with a potential profit of HKD 3,701 for a lot of 100 shares [1] - Xipuni, a designer and manufacturer of gold shell watches and gold bezel watches, saw its dark market price rise to HKD 85.65, an increase of HKD 56.05 or 189.36% from its offering price of HKD 29.6, allowing for a maximum profit of HKD 5,605 for a lot of 100 shares [1] Group 2 - Botai Chelink, a supplier of intelligent cockpit solutions, had its dark market price reach HKD 132.6, up HKD 30.37 or 29.71% from its offering price of HKD 102.23, with a potential profit of HKD 607.4 for a lot of 20 shares [1]

Core Viewpoint - Shenzhen Xipuni Precision Technology Co., Ltd. ("Xipuni" or "the Company") has announced its plan to list on the Hong Kong Stock Exchange, aiming to raise up to HKD 314 million through the issuance of 10,600,000 shares priced between HKD 27.0 and HKD 29.6 per share [1] Group 1: Company Overview - Xipuni is recognized as the largest gold watch brand in China by GMV and the largest brand of gold-inlaid precious metal watches, holding market shares of 27.08% and 28.96% respectively [2] - The Company has seen revenue growth from RMB 324 million in FY2022 to RMB 445 million in FY2023, with a projected increase to RMB 460 million in FY2024 [2] - Xipuni's flagship brand, HIPINE, has been awarded the title of "Shenzhen Well-Known Brand" since 2022, reflecting its strong market reputation [3][7] Group 2: Business Model and Partnerships - Xipuni has established long-term partnerships with renowned jewelry brands such as Lao Feng Xiang and China Jewelry, enhancing its market presence [4] - The Company operates a comprehensive business and sales system, including over 3,000 offline retail points and self-operated online stores, allowing for rapid market penetration [4] - Xipuni has begun international expansion, starting sales in Malaysia and planning further growth in the Middle East [4] Group 3: Innovation and Product Development - The Company has developed proprietary technologies, including a supermolecular gold hardening technique, enabling the mass production of gold watches [5] - Xipuni has collaborated with Huawei to launch smart gold watches, becoming the first brand to integrate Huawei's smart technology into its products [5] - The smart precious metal watch market is projected to grow at a compound annual growth rate of approximately 70% from 2024 to 2029, driven by increasing consumer demand for smart features [5] Group 4: Future Outlook - Xipuni aims to lead the gold watch industry by integrating traditional craftsmanship with innovative technology, capitalizing on the growing appreciation for gold culture and its enduring value [6]

Core Viewpoint - Xipuni (02583.HK), China's largest gold-plated precious metal watch brand, is set to launch its IPO from September 19 to September 24, 2025, with plans to list on the Hong Kong Stock Exchange on September 29, 2025, under the exclusive sponsorship of Ping An Securities (Hong Kong) [4][6]. Summary by Relevant Sections IPO Details - The company plans to issue 10.6 million H-shares, representing 18.02% of the total shares post-IPO, with a price range of HKD 27.00 to HKD 29.60 per share, aiming to raise between HKD 286 million and HKD 314 million [6][7]. - The estimated total expenses for the IPO are approximately HKD 44.6 million, which includes a 3.25% underwriting commission and other associated costs [7]. Use of Proceeds - Approximately 40.28% of the net proceeds (estimated at HKD 255 million) will be allocated to enhance production capacity, particularly for gold-plated and gold-inlaid watches, and to seize growth opportunities in the smart watch and jewelry markets [7]. - 7.85% will be used to upgrade production facilities in Shenzhen, while 17.11% will be directed towards establishing a research and development center in Putian to strengthen R&D capabilities [7]. - 33.24% will focus on expanding and optimizing the sales network, enhancing brand building, and increasing brand awareness [7]. - 9.37% will be reserved for working capital or general corporate purposes [7]. Shareholder Structure - Prior to the IPO, the major shareholders include Li Yongzhong, Hu Shaohua, Li Shuo, and Li Linmao, collectively holding about 50.50% of the shares, with Li Yongzhong having ultimate decision-making authority [8][9]. - Other significant investors include Jin Yin Gu Investment, a state-owned enterprise under the Putian State-owned Assets Supervision and Administration Commission, holding 16.40% [9]. Market Position - Established in 2013, Xipuni is recognized as the leading designer, manufacturer, and brand owner of gold-plated watches in China, with its flagship brand "HIPINE" [9]. - According to data from Zhi Zhi Consulting, Xipuni holds a market share of 27.08% in the gold-plated watch segment and 28.96% in the gold-inlaid precious metal watch segment as of 2024 [9].

Group 1 - The company, Xipuni (2583.HK), is a designer, manufacturer, and brand owner of gold case watches and gold bezel watches, and it is launching an IPO from September 19 to September 24, offering 10.6 million H-shares [1] - The offering price ranges from HKD 27 to HKD 29.6 per share, with a maximum fundraising target of HKD 314 million [1] - The expected listing date for the shares is September 29, and the sole sponsor for the IPO is Ping An Securities [1] Group 2 - The company plans to allocate approximately 40.28% of the net proceeds to further enhance production capacity [1] - About 33.24% of the funds will be used to expand and optimize the sales network, strengthen brand building, and enhance brand influence and recognition [1] - Approximately 17.11% will be invested in establishing a research and development center in Putian to strengthen R&D capabilities for sustainable business growth, while around 9.37% will be used for working capital or general corporate purposes [1]

Group 1 - The company, Xipuni, will conduct an IPO from September 19 to September 24, 2025, issuing 10.6 million shares at a price range of HKD 27.0 to 29.6 per share, with an expected listing date of September 29 [1] - Xipuni is a designer, manufacturer, and brand owner of watch cases and bands for China Gold (600916), with its core brand being HIPINE [1] - The company's revenue sources include sales of its own brand watches and providing ODM services for well-known domestic jewelry brands such as Lao Feng Xiang, China Jewelry, and Zhou Dashing (002867) [1] Group 2 - The HIPINE brand has received honors such as "Shenzhen Famous Brand" and "Top 100 Shenzhen Brands" [1] - The company's sales channels primarily rely on a dealer network, and it has begun overseas expansion in collaboration with partners in Malaysia, with future plans to enter the Middle East market [1] - The global offering is expected to net approximately HKD 255 million, with funds allocated for capacity enhancement (40.28%), R&D strengthening (17.11%), sales network expansion and brand building (33.24%), and working capital (9.37%) [1]

Core Points - The imposition of a 39% tariff by the Trump administration has severely impacted Switzerland's exports to the U.S., with a notable 22% decline in foreign sales in August compared to July, marking a rare occurrence for Swiss exports [1][4] - The trade deficit with the U.S. has significantly narrowed from 2.93 billion Swiss francs to 2.06 billion Swiss francs (approximately 2.6 billion USD), reaching the second-lowest level since the peak of the COVID-19 pandemic [1][5] - The Swiss government has been actively negotiating with the U.S. to lower the tariff rates, but efforts have so far been unsuccessful, despite ongoing dialogues [5][6] Trade Dynamics - The 39% tariff on Swiss goods is substantially higher than the average tariff rate of 15% imposed on developed countries, creating a unique challenge for Switzerland [5] - The Swiss agricultural sector remains sensitive to trade negotiations, with strong domestic opposition to increasing imports of U.S. beef and poultry, reflecting a commitment to food security and self-sufficiency [6] - Overall, Switzerland's exports to other European countries and North America have helped mitigate the impact of the U.S. tariffs, resulting in only a 1% decline in total export volume [6] Sector Performance - Exports of luxury watches from Switzerland decreased by 8.6% in August compared to July, while core pharmaceutical exports, which are exempt from tariffs, unexpectedly fell by 1.3% [7] - Despite the resilience shown by the Swiss economy, the government anticipates a significant slowdown in economic growth due to aggressive U.S. taxation policies [7] - Switzerland is actively seeking to diversify its export markets, recently signing a new free trade agreement with the Mercosur bloc [7]

Core Viewpoint - Shenzhen Xipuni Precision Technology Co., Ltd. (hereinafter referred to as Xipuni) is preparing for its listing on the Hong Kong Stock Exchange, with Ping An Securities (Hong Kong) as its sole sponsor [1]. Company Overview - Xipuni is a designer, manufacturer, and brand owner of gold watch cases and gold bezel watches in China. The company's revenue primarily comes from sales of gold watch cases and bezels designed and manufactured under its flagship brand HIPINE [4]. - The company also generates income by acting as an ODM manufacturer for third-party domestic jewelry brands and wholesalers, developing and producing private label watches and jewelry, and providing entrusted processing services [4]. - Xipuni has established long-term stable supply relationships with several well-known domestic jewelry brands, including Laofengxiang, China Jewelry, and Zhou Dasheng [4]. Technological Achievements - The company has developed proprietary supramolecular gold hardening technology, addressing the inherent softness of pure gold. This technology led to the launch of China's first mass-produced pure gold watch in 2014, which is considered a significant technological achievement in the watch manufacturing industry [5]. - In 2023, Xipuni developed a series of smart watches with pure gold components using Huawei's smart chip technology [5]. Brand Recognition and Sales Strategy - The flagship brand HIPINE has been recognized as a well-known brand in Shenzhen since 2022 and is expected to be listed among the top 100 brands in Shenzhen by the Shenzhen Quality Strong City Promotion Association in 2024 [5]. - The company's sales strategy primarily relies on a distribution network, utilizing over 3,000 offline retail points across the country to penetrate the market effectively and respond quickly to consumer preferences [5]. International Expansion - In the 2024 fiscal year, Xipuni began its overseas expansion by partnering with an experienced distributor and retailer in Malaysia to distribute and retail its HIPINE watches [6]. - The company aims to expand its presence in the Middle East in the coming years based on its momentum in overseas expansion [6]. Market Outlook - According to Zhaoshang Consulting, the Chinese precious metal watch market is expected to grow from RMB 26.46 billion in 2024 to RMB 34.08 billion by 2029, with a compound annual growth rate (CAGR) of 5.19% [8]. - The gold precious metal watch market in China is projected to reach RMB 32.11 billion by 2029, with a CAGR of 5.36% from 2024 to 2029 [8]. Financial Performance - The company's revenue for the fiscal years 2022, 2023, 2024, and the first five months of 2025 was approximately RMB 324 million, RMB 445 million, RMB 456 million, and RMB 231 million, respectively [9]. - The net profit and total comprehensive income for the same periods were RMB 24.54 million, RMB 52.10 million, RMB 49.35 million, and RMB 42.80 million, respectively [9].