瑞财经 吴文婷近日，随手播集团公司（以下简称"随手播"）在港交所递交招股书，独家保荐人为平安证券（香港）。 随手播是一家位于中国广州的全面解决方案提供商，专注于向娱乐及社交网络直播、精准营销及新零售行业的客户提供综合SaaS解决方案。 自2024年6月起，公司推出线上营销解决方案服务作为新业务增长加速器。根据灼识谘询报告，其于中国的企业直播SaaS解决方案市场中排名第十，按2024 年收益计，市场份额为1.0%。 据招股书，2022年-2024年，随手播实现收益分别为4509.8万元、5066.6万元、9895.1万元；年度溢利分别为3248.9万元、2644.6万元、3813.5万元。 IPO前，孔晓明持股84.77%，为控股股东之一。 孔晓明于2013年6月自中国华中科技大学取得工程硕士学位。 资料显示，孔晓明，41岁，于2024年3月20日获委任为董事，后调任为董事会主席兼执行董事。其负责集团的整体管理、业务营运的战略规划、投资及财务 以及外部合作。 孔晓明自2021年1月起担任集团主要营运附属公司广州随手播的主席，并自2024年6月广州随手播董事会成立以来一直担任广州随手播董事会主席兼董事。其 主要负 ...

先回顾一下5月的看法："对于5月市场展望，综合各方反馈来看，起码比4月要乐观，因为最恶劣的阶段 已经过去了"，港股走势超出预期，全月都是震荡上行的态势，直到最后一周才出现调整，恒指运行空 间在22058.30-23917点。 5月市场最大的催化来自于中美互降关税，美方暂停2025年4月2日实施24%的关税，保留10%的关税； 美方取消2025年4月8日、4月9日宣布加征的报复性关税，整体将对中国商品关税从145%下调至30%。 中国也同等对美商品征收10%关税。加速这一进程的是印巴冲突，中国的歼-10及一系列军工产品展现 了巨大威力，直接改写了印巴交战史，也让美西方看到了中方的实力。另外，美国库存告急，很多经销 商也扛不住，关税暂缓一下也为了圣诞节好过一点。国内方面，政策也在开始调整，利率终于出现松 动，银行存款利率跌破1%。A股赴港上市潮涌，巨无霸宁德时代（300750）(03750)募资超300亿人民 币，成为2025年港股市场最大的IPO项目，也成为今年全球最大的上市交易之一，扭转了去年IPO低迷 的尴尬局面。预计接下来还会有众多的企业赴港上市。 市场最强板块依旧是创新药，三生制药(01530)率先打响 ...

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叔 微信公众号｜ipozaozhidao 手回集团 港股｜挂牌上市 据IPO早知道消息，手回集团有限公司（以下简称"手回集团"） 计划于2025年5月30日正式 以"2621"为股票代码在港交所主板挂牌上市。 手回集团在本次IPO发行中总计发行24,358,400股股份。其中，香港公开发售获990.00倍认购，国 际发售亦获1.13倍认购。此外，手回集团在本次IPO发行中引入天津海泰集团和鹿驰资本两位基石投 资者，累计认购约4955万港元。以每股8.08港元的发行价计算，手回集团本次IPO募资总额为1.97 亿港元。 成立于2015年的手回集团作为一家中国人身险中介服务提供商，致力于通过人身险交易与服务平 台，在线为投保人和被保险人提供保险服务解决方案。 目前，手回集团旗下拥有小雨伞、咔嚓保和牛保100三大平台，从而赋能于不同销售场景中的保险交 易及服务——在小雨伞进行在线直接分销；在咔嚓保通过保险代理人进行分销；在牛保100在业务合 作伙伴的协助下进行分销。 根据弗若斯特沙利文的资料，按2023 年的长期人身险的总保费计算，手回集团是中 ...

Core Viewpoint - Recently, Guangzhou's Suishoubroadcast Group submitted its listing application to the Hong Kong Stock Exchange, indicating its entry into the capital market as a comprehensive SaaS solution provider focused on entertainment, social networking live streaming, precision marketing, and new retail [1] Financial Performance - Suishoubroadcast has shown impressive financial performance in recent years, with revenues of RMB 45.1 million, RMB 50.7 million, and RMB 98.9 million from 2022 to 2024, reflecting a steady growth trend [2][4] - The company's annual profits for the same period were RMB 32.5 million, RMB 26.4 million, and RMB 38.1 million, maintaining profitability despite some fluctuations [2][4] - Adjusted net profits also demonstrated growth, with figures of RMB 32.5 million, RMB 29.9 million, and RMB 41.9 million from 2022 to 2024 [5] Business Structure - In 2024, revenue from SaaS solutions accounted for RMB 63.7% of total income, while online marketing solutions contributed RMB 36.3%, indicating a strong foundation in the SaaS sector and rapid growth in online marketing [4] Cash Flow and Financial Health - Despite strong performance, the company's cash and cash equivalents were tight, totaling only RMB 988,000 as of December 31, 2024, highlighting funding pressures during rapid growth [6] Shareholding Structure - The executive director, Kong Xiaoming, holds a significant 84.77% stake in the company, indicating absolute control, while other shareholders include Wu Shu and Luo Caifeng with 4.23% and 11% respectively [7] - The management team, including Kong Xiaoming and CEO Li Li, has played a crucial role in driving the company's rapid growth [9]

电商SaaS ERP龙头聚水潭第四次冲击港交所IPO，但其资产负债率超300%、依赖亏损抵税实现账面盈利的财务困局，引发市场对其可持续性的深度质疑 12。 表面盈利的真相 2024年，聚水潭首次实现净利润1100万元，但核心源于超9000万元的所得税抵免（利用过往亏损抵税），实际经营亏损仍达6200万元。这种盈利模式不具备 可持续性，且递延所得税资产在2024年集中确认的操作缺乏合理解释，被指"粉饰报表"15。更严峻的是，公司SaaS产品平均合同价值三年下降37%，反映价 格战下收入质量恶化1。 对赌倒逼下的生死线 聚水潭背负31.44亿元优先股赎回压力，若2025年底前未能上市，将触发回购条款。而截至2024年底，其账上现金仅10.85亿元，年经营现金净流入不足3亿 元，一旦回购启动，现金流可能断裂35。这一对赌协议已扭曲公司战略——2024年研发投入占比从44.8%降至26.4%，销售费用率却维持在40%以上，牺牲长 期技术投入换取短期增长16。 夹缝中的生存困境 市场天花板过低：2024年中国电商SaaS ERP市场规模仅31亿元，到2029年预计仅83亿元，难以支撑其60亿元估值13。 技术护城河薄弱 ...

Company Overview - PagerDuty, Inc. (NYSE: PD) is an incident-response SaaS company focused on preventing digital system failures, positioning itself in the automation and IT firefighting sector [1] Business Model - The company's platform integrates with cloud services and third-party applications, enhancing its utility in managing IT incidents [1]

当 AI 开始爆发后，很多人都认为 Grammarly 将会被干掉，但事实是，Grammarly 的增长似乎还大大加速了，并且在去年底收购了估值 14 亿美金的 Coda，并让 Coda 的 CEO 来担任整个公司的新 CEO《 130 亿美金 Grammarly 收购 14 亿美金 Coda，或打造 Notion 最大竞争对手 》。 今天，Grammarly 宣布再次获得 10 亿美金融资，由 General Catalyst 的客户价值基金（CVF）投资，资金将主要用来扩大销售和营销规模，并进行战略 性收购。 现在， Grammarly 的日活用户为 4000 万，年收入超过了 7 亿美金，并且盈利良好 ，这是最近几年来首次公布其收入数据。CEO 说，收购 Coda 后， 现在 Grammarly 已经发展成为一个人工智能生产力平台。 我在去年底曾估算其 ARR 为 2.75 亿美金，不过后来有投资人朋友说已经达到 8 亿美金了《 Grammarly ARR 或达 2.75 亿美金，两个 AI 估值飙升至 20+亿美金 》，现在看来数据差不多，其收入的增长可以说非常快了。 不过此次融资很有意思的是，它并不 ...

Aurora Mobile (JG) Q1 2025 Earnings Call May 29, 2025 07:30 AM ET Company Participants René Vanguestaine - IRWeidong Luo - Co-Founder, Chairman and CEOShan-Nen Bong - CFO Conference Call Participants None - AnalystYuecong (Marco) Zhang - Senior Research Analyst Operator Ladies and gentlemen, thank you for standing by, and welcome to the Aurora Mobile First Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. After the speakers' presentation, there wi ...

Financial Data and Key Metrics Changes - The company's revenue for Q1 2025 reached RMB 89 million, representing a 48% year-over-year growth, marking the highest Q1 revenue since transitioning to a pure SaaS model [8][28] - Gross profit increased by 27% year-over-year, achieving the highest gross profit in the past nine quarters, with gross margin improving by 530 basis points quarter-over-quarter [9][28] - Adjusted EBITDA was positive for the seventh consecutive quarter, indicating a strong financial performance [9][28] Business Line Data and Key Metrics Changes - Developer Services revenue grew by 39% year-over-year, with subscription revenue increasing by 26% year-over-year [12][28] - Engage Labs recognized revenue grew by 127% year-over-year, with total contract value exceeding RMB 110 million in Q1 2025 [8][14] - Financial Risk Management recorded its highest revenue ever at RMB 22.2 million, growing 64% year-over-year [18][19] Market Data and Key Metrics Changes - The advertising spending recovery in Q1 contributed to a 269% year-over-year increase in Value Added Services revenue [16] - Market Intelligence revenue decreased by 26% year-over-year, reflecting ongoing weakness in demand for Chinese app data [21] Company Strategy and Development Direction - The company aims to invest more resources into the development of its enterprise AI agent platform and its global expansion [10] - The management emphasized the importance of balancing R&D and marketing expenses to sustain growth while aiming for profitability [45][46] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth momentum continuing into the rest of 2025, with Q2 revenue guidance projected between RMB 87.5 million to RMB 90.5 million, reflecting a 10% to 14% year-over-year increase [30][29] - The management acknowledged the need for continued investment in R&D and marketing to maintain competitive advantage and support future growth [43][45] Other Important Information - The company repurchased 16,000 ADS in Q1 2025, with a total of 295,000 ADS repurchased since the start of the program [31] Q&A Session Summary Question: Outlook for EngageLab business after achieving RMB 110 million contract value - Management confirmed the calculation of newly signed contracts and highlighted the ability to win significant contracts globally, though they set realistic expectations for future contract values [34][38] Question: When can the company expect quarterly net profit despite revenue growth? - Management explained that while revenue and gross profit are growing, certain expenses are necessary for continued growth, and profitability will come as the business scales [41][46]

Core Viewpoint - The company has developed a "Quality Improvement and Efficiency Enhancement" action plan for 2025 to boost operational efficiency, strengthen market competitiveness, and protect investor rights, reflecting confidence in its future development and value recognition [1]. Group 1: Business Focus and Operational Quality - The company focuses on providing SaaS products and value-added services for e-commerce merchants, with key offerings including Super Store Manager, Express Assistant, and various enterprise service SaaS products [1]. - In 2024, the company achieved a net cash flow from operating activities of 54.16 million yuan, an increase of 31.31 million yuan compared to the same period in 2023 [1]. Group 2: AI and Market Opportunities - The rapid development of AI technology presents new opportunities for the e-commerce industry, and the company aims to leverage its existing business advantages to explore AI applications and enhance operational efficiency [4]. - The company plans to implement integrated solutions in various segments of the e-commerce SaaS industry by 2025, increasing user numbers and accumulating successful experiences [2]. Group 3: Market Competition and Strategy - The rise of platforms like Pinduoduo and Douyin has changed the competitive landscape, prompting the company to adopt a multi-platform development strategy to replicate past successes across emerging e-commerce platforms [5]. - The company aims to tap into the lower-tier market, which accounts for over 60% of China's population, to drive significant growth opportunities in the e-commerce sector [5]. Group 4: Focus on Large Merchants - Large merchants are a key target for the company due to their higher lifecycle, greater SaaS functionality needs, and stronger purchasing power [6]. - The company plans to enhance user numbers and renewal rates for its large merchant SaaS products, thereby expanding revenue [6]. Group 5: Technological Innovation and R&D - The company emphasizes continuous product development and AI technology application, with 31.26% of its workforce dedicated to R&D as of the end of 2024 [8]. - The company has successfully completed its initial fundraising projects, which will support future efficient development [8]. Group 6: Investor Relations and Governance - The company has distributed a total of 70.18 million yuan in cash dividends since its listing, emphasizing its commitment to investor returns [8]. - The company has revised its governance structures and internal controls to enhance operational standards and compliance with legal regulations [10]. Group 7: Information Disclosure and Communication - The company prioritizes high-quality information disclosure, ensuring timely and accurate communication with investors through various channels [11]. - It has established a multi-layered communication mechanism to better understand and respond to investor needs [12].