Core Viewpoint - Shanghai Sunmi Technology Group Co., Ltd. has submitted its prospectus for an IPO on the Hong Kong Stock Exchange, with Deutsche Bank, CITIC Securities, and Agricultural Bank of China International as joint sponsors [1] Company Overview - Sunmi Technology is a provider of Business Internet of Things (BIoT) solutions, integrating smart hardware, software, and data insights to enable digital transformation in various offline business scenarios [1] - The company is currently the largest provider of Android-based BIoT solutions globally, holding over 10% market share as of 2024 [1] Market Potential - The Android-based BIoT solutions market is expected to experience explosive growth over the next five years [1] Financial Performance - Revenue for Sunmi Technology from 2022 to 2024 is projected as follows: 3.404 billion RMB in 2022, 3.071 billion RMB in 2023, and 3.456 billion RMB in 2024 [2] - Net profit for the same period is expected to be 0.159 billion RMB in 2022, 0.101 billion RMB in 2023, and 0.181 billion RMB in 2024 [2] Investment Background - Sunmi Technology has completed multiple rounds of financing since its establishment, with investors including Xinxing Venture Capital, Hantao Consulting, and Yunxin Venture Capital [2] - Pre-IPO, Yunxin Venture Capital holds 27.27%, Hantao Consulting holds 8.2%, and Xinxing Venture Capital holds 7.78% of the company [2]

Core Viewpoint - Shanghai Sunmi Technology Group Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with Deutsche Bank, Agricultural Bank of China International, and CITIC Securities as joint sponsors [1] Company Overview - Sunmi Technology is a leading provider of Business Internet of Things (BIoT) solutions globally, integrating smart hardware, software, and data insights to enable digital transformation in various offline business scenarios [3] - The company is currently the largest Android-based BIoT solution provider globally, holding over 10% market share based on projected 2024 revenue [3] - Sunmi Technology has deployed solutions in over 200 countries and regions, boasting the widest business network globally, with active smart devices increasing from approximately 3.2 million as of December 31, 2022, to an estimated 4.9 million by December 31, 2024 [3] Product and Service Offering - The BIoT solutions include smart devices and a BIoT PaaS platform, with each smart device supported by a professional commercial operating system (SUNMI OS) for efficient transaction and operation management [3] - The BIoT PaaS platform provides a unified software infrastructure with ready-to-use development tools for merchants and developers to efficiently develop, manage, and upgrade software applications for specific vertical scenarios [3] Market Presence - Sunmi Technology serves over 70% of the top 50 global food and beverage companies and has achieved over 70% coverage of the top 100 restaurant brands and over 60% coverage of the top 100 chain stores in China [3] Financial Performance - Revenue from the top five customers for 2022, 2023, and 2024 was approximately RMB 1.439 billion, RMB 0.885 billion, and RMB 1.421 billion, accounting for 42.3%, 28.8%, and 41.1% of total revenue, respectively [4] - The company's revenue for 2022, 2023, and 2024 was approximately RMB 3.404 billion, RMB 3.071 billion, and RMB 3.456 billion, with net profits of approximately RMB 0.160 billion, RMB 0.101 billion, and RMB 0.181 billion for the same years [4][6]