Group 1 - The core viewpoint of the news is that Different Group (6090.HK) is set to launch its IPO from September 15 to September 18, 2025, with a global offering of over 10.98 million shares priced between HKD 62.01 and HKD 71.20 per share, aiming for a maximum net fundraising of HKD 782 million [1] - Different Group is an emerging technology company focused on family lifestyle products, founded in 2019, with its core high-end parenting brand BeBeBus, which includes key durable goods such as strollers, child safety seats, cribs, and high chairs [3] - The company has successfully penetrated the high-end parenting product market, with core revenue derived from BeBeBus brand sales, reporting revenues of RMB 5.07 billion, RMB 8.52 billion, RMB 12.48 billion, RMB 5.82 billion, and RMB 7.25 billion for the years 2022, 2023, and the six months ending June 30, 2024, and 2025, respectively, with gross margins of 47.7%, 50.2%, 50.4%, 50.2%, and 49.4% during the same periods [4] Group 2 - The company plans to use the net proceeds from the IPO primarily for enhancing production capacity, expanding its influence in overseas markets such as Europe, Southeast Asia, and North America, increasing brand activities and sales networks, developing new products, and for working capital and general corporate purposes [5]

Group 1 - Different Group (06090.HK) plans to globally offer 10.98 million shares, with 1.0981 million shares available in Hong Kong and 9.8828 million shares for international offering, along with an overallotment option of 1.6471 million shares [1] - The subscription period is from September 15 to September 18, with a maximum offer price of HKD 71.20 per share, and an entry fee of approximately HKD 7,191.80 for 100 shares [1] - The total expected fundraising amount is HKD 731 million, with a net amount of HKD 662 million, intended for brand activities, expanding sales networks, enhancing production capacity, increasing overseas market influence, R&D for new products, and general corporate purposes [1] Group 2 - The company focuses on designing and selling parenting products, with its first brand BeBeBus established in 2019, targeting mid-to-high-end consumers and becoming a well-known brand in China's parenting product market [2] - The net profits for the company for the fiscal years 2023, 2024, and the first half of 2025 (ending June 30) are projected to be CNY 27.224 million, CNY 58.516 million, and CNY 48.507 million, reflecting year-on-year growth rates of 228.24%, 114.94%, and 72.14% respectively [2]

Core Viewpoint - The company plans to conduct an initial public offering (IPO) from September 15 to 18, 2025, aiming to globally offer 10.9809 million shares at a price range of HKD 62.01 to HKD 71.20, with an expected listing date of September 23, 2025 [1] Company Overview - The company focuses on designing and selling parenting products, with its BeBeBus brand established in 2019, becoming a well-known brand in China's mid-to-high-end parenting product market [1] - In 2024, the company is projected to hold a market share of 4.2%, ranking second in the industry [1] Growth Strategy - The company adopts a growth model that targets the complex, high-demand, and high-ticket parenting product market, such as baby strollers and child safety seats, to build brand image and expand its product line [1] Investment and Funding - The company has signed agreements with cornerstone investors, with a total subscription amount of USD 15 million [1] - It is expected that the net fundraising amount after expenses will be approximately HKD 662 million [1] Use of Proceeds - The raised funds will primarily be allocated as follows: - 25.7% for enhancing production capacity - 16.6% for expanding overseas markets - 34.1% for brand activities and sales network expansion - 13.6% for new product research and development - 10% for working capital and general corporate purposes [1]

Group 1 - The company Different Group (06090) is set to launch its IPO from September 15 to September 18, 2025, with shares expected to begin trading on September 23, 2025 [1] - The company plans to issue a total of 10.98 million shares, with 10% allocated for Hong Kong and 90% for international offerings, and an additional 15% for over-allotment options, with a price range of HKD 62.01 to HKD 71.20 per share [1] - Different Group focuses on designing and selling parenting products, with its brand BeBeBus established in 2019, quickly gaining a strong market position in the mid-to-high-end parenting product sector in China [1][2] Group 2 - The company has developed an effective growth model by entering high-demand, high-ticket parenting product markets such as baby strollers and safety seats, which has helped establish its brand recognition and set the stage for product category expansion [2] - The company has signed cornerstone investment agreements, with cornerstone investors agreeing to subscribe for shares totaling USD 15 million under certain conditions [3] - Assuming a mid-range offer price of HKD 66.60 per share, the company estimates net proceeds from the global offering to be approximately HKD 662 million, with allocations for production capacity enhancement, market expansion, brand activities, R&D, and working capital [4]

Core Viewpoint - The company is set to launch an initial public offering (IPO) with a global offering of 10.98 million shares, targeting both local and international investors, with a share price range of HKD 62.01 to 71.20, indicating strong market interest in its high-end parenting products [1] Group 1: Company Overview - The company specializes in designing and selling parenting products, with its first brand, BeBeBus, established in 2019, focusing on the mid-to-high-end consumer segment [1] - BeBeBus has quickly gained a strong market position in China's mid-to-high-end parenting product market, achieving a market share of 4.2% and ranking second among brands in this segment as of 2024 [1][2] Group 2: Growth Strategy - The company has developed an effective growth model by entering high-demand, high-ticket parenting product categories such as strollers, car seats, cribs, and high chairs, which has helped establish its premium brand image [2] - By diversifying its product offerings to meet various parenting needs, the company has not only increased its revenue streams but also strengthened its brand [2] Group 3: Investment and Financials - The company has secured cornerstone investors who have agreed to subscribe for shares worth USD 15 million under certain conditions, indicating strong backing for the IPO [3] - Assuming a midpoint share price of HKD 66.60, the company estimates a net proceeds of approximately HKD 662 million from the global offering, with allocations for production capacity enhancement, market expansion, brand activities, R&D, and working capital [4]

Core Viewpoint - The company, Different Group, is planning a global offering of 10.98 million shares, with a price range of HKD 62.01 to 71.20 per share, targeting the high-end parenting product market in China [1][4]. Group Overview - Different Group focuses on designing and selling parenting products, with its brand BeBeBus established in 2019, quickly gaining recognition in the mid-to-high-end consumer segment [1][2]. - By 2024, the mid-to-high-end parenting product market is expected to account for 23.6% of the overall parenting product market in China, with BeBeBus holding a 4.2% market share, ranking second among Chinese parenting brands [1][2]. Growth Strategy - The company has developed an effective growth model by entering high-demand, high-ticket items such as baby strollers and safety seats, which has helped establish a strong brand image and recognition among target users [2]. - The strategy allows for diversification of revenue sources and strengthens brand power, positioning the company for future success in a changing market [2]. Investment Agreements - The company has entered into cornerstone investment agreements, with investors agreeing to subscribe for shares totaling approximately USD 15 million (around HKD 117 million) under certain conditions [3]. - Key cornerstone investors include Cithara Global Multi-Strategy SPC, Shanghai Tongyi, and Great Praise Investment SPC [3]. Use of Proceeds - Assuming a share price of HKD 66.60, the company expects to net approximately HKD 661.7 million from the global offering [4]. - The proceeds will be allocated as follows: 25.7% for enhancing production capacity, 16.6% for expanding influence in North America, Europe, and Southeast Asia, 34.1% for brand activities and sales network expansion, 13.6% for R&D of new products, and 10% for working capital and general corporate purposes [4].

聯席賬簿管理人及聯席牽頭經辦人 全球發售 聯席保薦人、整體協調人、聯席全球協調人、 股份代號 : 6090 （於開曼群島註冊成立的有限公司） 重要提示 重要提示： 閣下如對本招股章程的任何內容有任何疑問，應尋求獨立專業意見。 BUTONG GROUP 不同集團 （於開曼群島註冊成立的有限公司） 全球發售 全球發售項下的發售股份數目：10,980,900股發售股份（視乎超額配股權 行使與否而定） 香港發售股份數目：1,098,100股發售股份（可予重新分配） 國際發售股份數目：9,882,800股發售股份（可予重新分配及 視乎超額配股權行使與否而定） 最高發售價：每股發售股份71.20港元，另加1.0% 經紀佣金、0.00015%會財局交易徵費、 0.0027%證監會交易徵費及0.00565% 聯交所交易費（須於申請時以港元繳足， 多繳股款可予退還） 面值：每股發售股份0.0001美元 股份代號：6090 聯席保薦人、整體協調人、聯席全球協調人、聯席賬簿管理人及聯席牽頭經辦人 整體協調人、聯席全球協調人、聯席賬簿管理人及聯席牽頭經辦人 聯席賬簿管理人及聯席牽頭經辦人 香港交易及結算所有限公司、香港聯合交易所有限 ...

Group 1: Hesai Group (禾赛) - Hesai Group plans to officially list in Hong Kong on September 16 with the stock code "2525", becoming the first global lidar company to list in Hong Kong [3] - The company has attracted six cornerstone investors, raising a total of $148 million (approximately HKD 1.15 billion), with notable contributions from existing shareholders [3] - In Q2, Hesai delivered a total of 352,095 lidar units, representing a year-on-year growth of 306.9%, with ADAS product deliveries at 303,564 units, up 275.8% [4] - For the first half of the year, total lidar deliveries reached 547,913 units, a 276.2% increase year-on-year, surpassing the full-year target for 2024 [4] - Hesai's revenue for Q2 was RMB 710 million, a growth of over 50% year-on-year, with a net profit exceeding RMB 40 million, significantly surpassing profitability targets [5] Group 2: Genfleet Therapeutics (劲方医药) - Genfleet Therapeutics plans to list in Hong Kong on September 19 under the stock code "2595.HK", with cornerstone investors committing a total of $100 million (approximately HKD 780 million) [7] - The company focuses on developing new treatment options for tumors, autoimmune, and inflammatory diseases, with eight candidate drugs in its pipeline, five of which are in clinical stages [7] - The core product GFH925 has shown a 49.1% objective response rate in key clinical trials and is set to be commercialized in collaboration with a partner [8] Group 3: Chery Automobile (奇瑞) - Chery has passed the Hong Kong Stock Exchange hearing and is recognized as the second-largest independent passenger car brand in China and the eleventh largest globally [10] - The company is projected to sell over 2.295 million vehicles globally in 2024, with a year-on-year growth exceeding 25% across various markets [10][11] - Financially, Chery's revenue is expected to grow from RMB 926.18 billion in 2022 to RMB 2,698.97 billion in 2024, with net profits increasing from RMB 58.06 billion to RMB 143.34 billion in the same period [12] Group 4: BeBeBus - BeBeBus, a high-end parenting product brand, has passed the Hong Kong Stock Exchange hearing and is set to list soon [14] - The company ranks first in the durable parenting products market for mid-to-high-end consumers in China, with a significant average transaction amount [14][15] - Financial performance shows revenue growth from RMB 5.07 billion in 2022 to RMB 12.49 billion in 2024, with a gross margin maintained above 49% [15][16]

Group 1 - The company is preparing for an IPO with CITIC Securities and Haitong International as joint sponsors [1] - The company's first brand, BeBeBus, was established in 2019 and focuses on the mid-to-high-end parenting products market [1] - By 2024, BeBeBus is expected to rank second in China's mid-to-high-end parenting products market by GMV, with a market share of 4.2% [1] Group 2 - BeBeBus has expanded its product line from core products (such as strollers and child safety seats) to four key scenarios: family travel, sleep, feeding, and hygiene care [1] - The company's online channels include self-operated stores, platform stores, and private domain platforms, with approximately 3.5 million members as of June 30, 2025 [1] - Offline channels consist of distributors, key accounts, and experience stores [1] Group 3 - The market for mid-to-high-end parenting products in China is expected to continue growing, projected to reach 50.9 billion RMB by 2029 [1]

据港交所9月11日披露，不同集团通过港交所主板上市聆讯，中信证券和海通国际为联席保荐人。 招股书显示，不同集团是一家专注于设计并销售育儿产品的中国公司。公司的首个品牌BeBeBus创立于2019年，一直专注于服务中高 端消费者，并已成长为中国育儿产品市场的知名品牌。创立仅5年，BeBeBus便在中高端育儿产品市场中取得了强势的市场地位。 2024年，中高端育儿产品市场占整个育儿产品市场的份额为23.6%。根据弗若斯特沙利文的资料，按GMV计，在中国中高端育儿产品 市场中，BeBeBus在中国育儿产品品牌中排名第二，拥有4.2%的市场份额，凸显了公司在市场的稳固地位及强劲表现。 据悉，BeBeBus专门面向追求独立、欣赏智能设计并关注实用功能性的新生代父母。通过细致观察他们的偏好和需求，公司专注于打 造育儿产品，让父母在陪伴孩子的每时每刻均收获独特育儿体验，将周到的设计和跨行业专业知识融入公司非凡的款式及卓越的品质 中。 BeBeBus的育儿产品组合从最初的婴儿推车、儿童安全座椅、婴儿床、餐椅核心产品，逐步延展到亲子出行、亲子睡眠、亲子喂 养及卫生护理四大关键场景。 公司的线上渠道覆盖(i)公司于天猫、京东商城 ...