星标 ★ IPO日报 精彩文章第一时间推送 日前，杭州铜师傅文创（集团）股份有限公司（以下简称"铜师傅"）正式向港交所递交招股书，拟 于主板上市，招银国际担任独家保荐人。 来源：铜师傅淘宝官方旗舰店 雷军投资 "铜师傅"创始人俞光曾在媒体专访中透露，他创业的原因是出于一次购买"未果"。 2013年，俞光在杭州为朋友挑选乔迁礼物时，遍寻市场却找不到一尊兼具品质与性价比的铜制关公像。 高端作品标价动辄数万元，低端产品则粗糙廉价，这种两极分化的市场现状让他萌生了创业的想法，于 是，铜工艺品牌 "铜师傅" 应运而生。 俞光凭借多年在建材行业的经验，敏锐地察觉到铜材质的独特优势。 作为仅次于金银的贵金属，铜不仅具有高贵的质感，还具备优异的延展性和可塑性，能够驾驭传统、现 代等多种艺术风格。与陶瓷相比，铜器不易碎裂；与木雕相比，更适合规模化生产。俞光带领团队改良 千年古法 "失蜡铸铜法"，独创永不褪色的高温着色和彩绘工艺，成功将传统工艺与现代审美相结合， 打造出兼具艺术性与实用性的铜制工艺品。 招股书显示，铜师傅覆盖了研究、设计、开发、生产与销售的完整产业链，实现了对产品从创意到成品 的全流程把控，有效提高了生产效率和产 ...

商周青铜器的铸造智慧跨越千年，在当代消费升级浪潮中激荡出新的市场机遇。 智通财经APP获悉，2025年5月9日，杭州铜师傅文创（集团）股份有限公司（下称"铜师傅"）向港交所 主板递交上市申请，招银国际担任独家保荐人。作为中国铜质文创工艺产品市场占有率35%的第一品 牌，铜师傅交出年营收超5亿、毛利率超30%、平均客单价超过750元，却也面临行业天花板与同质化竞 争的双重压力。 此次IPO不仅是铜师傅寻求增长突破的关键之举，更为铜制文创行业与资本市场的融合提供了观察样 本。如何在有限的市场空间内探索可持续商业化路径，成为摆在公司面前的核心课题。 中国铜质文创工艺产品第一品牌 招股书显示，铜师傅成立于2013年，公司将铜作为核心材质，产品涵盖铜质文创产品、塑胶潮玩、银质 文创产品及黄金文创产品等多个品类，其中铜质文创产品是产品矩阵的核心。2022-2024年，铜制文创 产品收入分别占同期总收入的95.4%、96.3%及96.6%。 | | | | 截至12月31日止年度 | | | | | --- | --- | --- | --- | --- | --- | --- | | | 2022年 | | 2023年 ...

Group 1 - Company "Tong Shifu" has officially submitted its prospectus to the Hong Kong Stock Exchange for an IPO, marking its second attempt at going public after previously withdrawing from the Shenzhen Stock Exchange in September 2024 due to market conditions [1] - The funds raised from the IPO will primarily be used for product research and development, increasing production capacity and flexibility, and enhancing sales and marketing capabilities [1] - Founded in 2013, Tong Shifu specializes in various copper cultural and creative products, including ornaments, sculptures, and wall art, operating under a dual business model of "self-developed IP + authorized IP" with 57 domestic and international IPs [1] Group 2 - As of December 2024, Tong Shifu has opened 9 direct stores in cities like Hangzhou, Suzhou, and Chengdu, and has 68 stores operated by 54 authorized offline distributors [1] - According to a report by Frost & Sullivan, Tong Shifu holds a 35% market share in the Chinese copper cultural and creative product market, ranking first in the industry [1] - The company has received significant backing from various investors, including Shunwei Capital and Xiaomi Group, with multiple rounds of financing completed [1][2] Group 3 - From 2022 to 2024, Tong Shifu's revenue figures were 503 million, 506 million, and 571 million yuan respectively, with net profits of 56.94 million, 44.13 million, and 78.98 million yuan [2] - The gross profit margins for the same period were 32.2%, 32.4%, and 35.4% [2] - The company's revenue is heavily reliant on copper cultural products, which accounted for 96% of total revenue in 2024, while other product lines contributed less than 5% [2]

商报讯(记者叶晓珺)潮玩文创品牌冲击上市已成为热潮。近日，港交所发布了杭州铜师傅文创(集团)股 份有限公司(以下简称"铜师傅")的上市申请，目前，已获得顺为资本、小米、光信资本、凯辉基金、国 中资本、海泉基金、海通、金鼎资本等知名机构的投资。 作为国内铜质文创品牌的头部企业，铜师傅的产品已拓展至塑胶潮玩、银质文创产品及黄金文创产品等 多元材质品类。对于此次募集资金，铜师傅称拟用于投资产品开发及设计能力、提高产能及履约灵活 性、加强销售渠道及营销能力、升级数字化和信息基础设施等方面。 杭州"铜师傅"冲刺港股IPO 5月9日，扎根杭州的"铜师傅"向港交所提交上市申请书，拟主板挂牌上市。 这个专注于铜质文创的品牌，创始人俞光来自绍兴，经过十数年的发展，该公司产品线相当丰富，已拥 有不少IP产品，这也使其业绩相当亮眼。 从财务数据来看，2022年至2024年，铜师傅的营收分别为5.03亿元、5.06亿元和5.71亿元；净利润分别 为0.57亿元、0.44亿元和0.79亿元，净利润率则分别为11.3%、8.7%和13.8%。 此外，铜师傅还逐步发力线下渠道，截至2024年12月31日，铜师傅在杭州、苏州、成都等地开设了 ...

Group 1: IPO Market Overview - The number of companies applying for IPOs in Hong Kong is increasing, with 130 applications currently under review as of April 30, and 19 companies already listed [1][2] - In May alone, 8 companies have submitted applications, with 4 companies applying on May 9 [2][3] Group 2: Featured Companies - Tongshifu, a new consumption company, ranks first in China's copper cultural products market with a market share of 35% and an average online transaction value exceeding RMB 750 [3][4] - Zhejing Electronics, a hard technology company, has seen a 3-fold increase in solution delivery from FY2022 to FY2024, with a compound annual growth rate of 64.3% [4][5] - Zhongding Intelligent, a provider of smart logistics solutions, ranks fourth in the overall market and first in the lithium-ion battery sector in China [5] - Fuyou Payment, a digital payment technology platform, ranks eighth in China's comprehensive digital payment service providers with a market share of 0.8% [5] Group 3: Market Trends and Predictions - The Hong Kong IPO market is experiencing a resurgence, with 17 companies listed in Q1 2024, raising a total of HKD 18.7 billion, nearly four times the amount from Q1 2023 [7][8] - The upcoming IPO of CATL is expected to raise approximately HKD 30.7 billion, potentially surpassing the previous record set by Midea Group [7][8] - Factors driving the recovery of the IPO market include advancements in AI technology, improved liquidity due to the Federal Reserve's interest rate cuts, and a noticeable profit-making effect from new listings [8]

赴港上市的公司越来越多， 仅在5月9日，就有4家公司递表。 港交所官网显示，截至4月30日，仍有130家公司的上市申请在处理中，已上市19家，待上市的公司18家。 | 申請狀況 ① | | | 主板 | | --- | --- | --- | --- | | | | (於2025年4月30日) | | | 1. | 已上市(2) | | 19 | | 2. | 已獲上市委員會批准,符上市 | | 18 | | 3. | 處理中 | | 130 | | 4. | 其他(申請的處理期限已過(3)、申請被拒(4)、被發回申請(4)(5或自行撤回申請) | | 14 | | | | | 總計:181 | 申请赴港上市的公司数量仍在不断增加，港交所在4月受理的上市申请包括32家主板、3家GEM和7家根据《主板上市规则》第二十章递交的上市申请。 而据证券时报记者统计，5月以来，有8家公司递表港交所，仅在5月9日这一天就有4家公司扎堆递表。 铜师傅的价格并不低。铜师傅的定价策略根植于质价比原则，强调每件产品的艺术、文化和物质价值，同时确保广泛的消费者可及性。铜师傅的目标是提供博物馆 级的工艺和具有收藏价值的艺术品，其价格范 ...

据IPO早知道消息， 沪上阿姨（上海）实业股份有限公司（以下简称"沪上阿姨"）于2025年5月8日 正式以"2589"为股票代码在港交所主板挂牌上市。 沪上阿姨在本次IPO发行中总计发行2,411,340股H股。其中，香港公开发售部分获3616.83倍认 购，国际发售部分获2.57倍认购。同时，沪上阿姨在本次IPO发行中引入了盈峰集团和华宝股份 （300741.SZ）两位基石投资者，累计认购921.55万美元。以每股113.12港元的发行价计算，沪上 阿姨通过本次IPO发行募集资金总额为2.73亿港元。 2013年，第一家沪上阿姨门店在上海开业。目前，沪上阿姨旗下拥有主要品牌「沪上阿姨」、2022 年推出的「沪咖」以及2023年推出的「轻享版」。其中，2024年3月，"轻享版"升级至2.0版本，并 正式推出"茶瀑布"，进一步捕捉下沉市场需求。 截至2024年12月31日，沪上阿姨的门店网络有9,176家门店，覆盖中国全部四个直辖市，以及位于 五个自治区及22个省份的300多个城市，门店网络覆盖北至中国黑龙江省漠河，南至中国海南省三 亚。 一周IPO动态，覆盖港股、美股、A股。 本文为IPO早知道原创 作者｜C ...

Core Viewpoint - Copper Master Cultural (Group) Co., Ltd. has submitted its prospectus for an IPO on the Hong Kong Stock Exchange, aiming to reconstruct and reinterpret Eastern aesthetics through its copper cultural products [1][3]. Company Overview - Copper Master focuses on copper cultural products, particularly copper ornaments, and has expanded its material range to include gold, silver, and plastic to attract a broader audience [3]. - The company was established in March 2013 and was previously known by several names before rebranding to "Copper Master" in December 2024 [3]. - As of now, the registered capital of Copper Master is 57 million yuan, with key shareholders including Yu Guang, Shunwei Capital, Xiaomi Group, and Guangxin Capital [3][4]. Market Position - According to a report by Frost & Sullivan, Copper Master holds the largest market share in China's copper cultural craft products market, with a revenue share of 35.0% in 2024 [3]. Financial Performance - The revenue figures for Copper Master in 2022, 2023, and 2024 were approximately 503 million yuan, 506 million yuan, and 571 million yuan, respectively, while net profits were 56.9 million yuan, 44.1 million yuan, and 78.0 million yuan [5][6]. - The revenue from copper cultural products accounted for 95.4%, 96.3%, and 96.6% of total revenue in the respective years [7]. Product Development - Copper Master regularly introduces new SKUs and product lines, with 2,137, 2,296, and 2,485 SKUs offered in 2022, 2023, and 2024, respectively [7]. - The company has created 300, 279, and 456 new original product IPs in the same years, with self-developed IP contributing to 94.1%, 88.3%, and 93.7% of total revenue [7].

Core Insights - The company, Tong Shifu, is a leading cultural and creative product brand rooted in Chinese cultural heritage, holding the top position in the copper cultural craft product market in China with a market share of 35.0% as of December 31, 2024 [2] - The copper cultural craft products remain the core category of Tong Shifu's product matrix, with the top three market participants collectively accounting for over 71.9% of the market by revenue as of December 31, 2024 [2] Financial Performance - For the years 2022, 2023, and 2024, Tong Shifu's revenues were approximately RMB 503.2 million, RMB 506.4 million, and RMB 571 million respectively, with net profits of RMB 56.9 million, RMB 44.1 million, and RMB 78.0 million [6][8] - The revenue from copper cultural products for the same years was approximately RMB 480 million, RMB 488 million, and RMB 551 million, representing 95.4%, 96.3%, and 96.6% of total revenue respectively [5][6] Product Offering and Market Strategy - As of December 31, 2024, the company offered 2,485 SKUs, with new SKUs launched each year being 464, 382, and 574 respectively [9] - The company relies heavily on online sales, with online direct sales and online distribution channels accounting for over 80% of total revenue in 2022, approximately 79% in 2023, and about 77% in 2024, indicating a continued strategic reliance on digital platforms [9] Intellectual Property and R&D - As of December 31, 2024, Tong Shifu has obtained 1,575 copyrights, 285 design patents, 12 utility model patents, 9 software copyrights, and 2 invention patents [6] - The company has established a dedicated creative R&D system supported by 119 R&D personnel to bolster its IP strategy [6]

2022年至2024年，铜师傅的线上直销（主要来自天猫、京东、抖音等旗舰店）收入占比分别为 70.6%、69.9%和70.5%。叠加线上经销商销售，线上渠道收入总占比分别为80.9%、79.2%和 77.2%。同期，铜师傅在各线上直销渠道的加权平均复购率分别为约59.2%、56.9%和56.4%。 此外，铜师傅仍实施精准线下零售拓展，以补充和增强数字体验——截至2024年12月31日，铜师傅 的线下直营网络覆盖9家门店，并覆盖54家授权线下经销商运营的68家门店。 为保护、提升创意资产，铜师傅实行严格的IP管理制度，涵盖专利、艺术著作权和专有技术。截至 2024年12月31日，铜师傅已获得1,575项艺术著作权、285项外观设计专利、12项实用新型专利、 9项软件版权及2项发明专利。 本文为IPO早知道原创 作者｜ Stone Jin 微信公众号｜ipozaozhidao 据IPO早知道消息，杭州铜师傅文创(集团)股份有限公司（以下简称"铜师傅"）于2025年5月9日正 式向港交所递交招股说明书，拟主板挂牌上市，招银国际担任独家保荐人。 成立于2013年的铜师傅作为一个文创工艺产品品牌，以铜始终为品牌的核心材 ...