Core Viewpoint - The article provides an overview of recent IPO activities in Hong Kong, the US, and China, highlighting key companies and their market performance. Group 1: Company IPOs - Hu Shang A Yi officially listed on the Hong Kong Stock Exchange on May 8, 2025, with the stock code "2589," raising a total of HKD 273 million through the issuance of 2,411,340 shares, with a subscription rate of 3,616.83 times for the public offering [3][6] - Bo Le Ton Technology listed on May 7, 2025, as the first "zero-carbon mining robot" stock in Hong Kong, issuing 13 million shares with a public offering subscription rate of 198.72 times [7][8] - Green Tea Group plans to list on May 16, 2025, with an expected market capitalization of HKD 4.842 billion, aiming to raise over HKD 1.2 billion through the issuance of 168,364,000 shares [11][12] - InSilico Medicine updated its prospectus on May 8, 2025, aiming to become the first "AI-driven innovative drug" stock in Hong Kong, with a focus on drug discovery and development using AI technology [16][17] - Copper Master submitted its prospectus on May 9, 2025, aiming to list on the Hong Kong Stock Exchange, recognized as the leading brand in China's copper cultural and creative products market [20][23] - Zejing submitted its prospectus on May 9, 2025, as an innovative smart cockpit visual and interaction solution provider, ranking second in the Chinese HUD solution market with a market share of 16.2% [24][25] Group 2: Financial Performance - Hu Shang A Yi's GMV grew from CNY 6.068 billion in 2022 to CNY 10.736 billion in 2024, with revenue of CNY 2.199 billion in 2022, CNY 3.348 billion in 2023, and CNY 3.285 billion in 2024 [5] - Bo Le Ton's electric wide-body dump truck shipments increased from 59 units in 2022 to 307 units in 2024, with a compound annual growth rate (CAGR) of 128.1% [9] - Green Tea Group's revenue increased from CNY 2.375 billion in 2022 to CNY 3.838 billion in 2024, with a net profit of CNY 0.17 billion in 2022 and CNY 0.35 billion in 2024 [13] - InSilico Medicine's revenue grew from USD 30.15 million in 2022 to USD 85.83 million in 2024, with a gross margin increasing from 63.4% to 90.4% [18] - Copper Master achieved revenue of CNY 503 million in 2022, CNY 506 million in 2023, and CNY 571 million in 2024, with a net profit margin of 13.8% in 2024 [22] - Zejing's revenue increased from CNY 214 million in 2022 to CNY 578 million in 2024, with a CAGR of 64.3% [26][27] Group 3: Market Position and Growth - Hu Shang A Yi ranked first among mid-priced tea beverage brands in Northern China and third among all mid-priced tea beverage brands in China as of December 31, 2023 [4] - Bo Le Ton ranked third among all new energy wide-body dump truck manufacturers in China, with a market share of 18.3% [8] - Green Tea Group ranked third in the number of restaurants and fourth in revenue among casual Chinese restaurant brands in mainland China as of 2024 [12] - InSilico Medicine's Pharma.AI platform is recognized as a leading AI-driven drug discovery and development platform globally [17] - Copper Master holds a 35% market share in the copper cultural and creative products market in China as of 2024 [21] - Zejing is the only Chinese supplier to have received multiple international mainstream OEM orders for HUD solutions, achieving significant market penetration [25]

Core Viewpoint - Green Tea Group Limited plans to launch an IPO from May 8 to May 13, 2025, aiming to raise approximately HKD 1.211 billion through the issuance of 168.364 million shares at a price of HKD 7.19 per share [1][3]. Group 1: IPO Details - The IPO will consist of 117.854 million new shares and 50.5092 million shares for sale by existing shareholders [1]. - Partners Gourmet, the selling shareholder, will see its stake in Green Tea Group decrease from approximately 28.2% to about 15.76% post-IPO, and further to around 7.50% after the sale of shares [5]. Group 2: Company Overview - Green Tea Group operates a chain of casual Chinese restaurants, with the number of restaurants expected to grow from 276 at the end of 2022 to 489 by April 2025 [5]. - The company ranks third and fourth in the Chinese casual dining sector by restaurant count and revenue, respectively, and is the largest player focused on fusion cuisine among the top five operators [7]. Group 3: Financial Performance - Revenue figures for Green Tea Group are projected at approximately RMB 2.375 billion, RMB 3.589 billion, and RMB 3.838 billion for the years 2022, 2023, and 2024, respectively [7]. - Net profit is expected to rise from approximately RMB 16.58 million in 2022 to RMB 350.17 million in 2024, with adjusted net profit figures of RMB 25.22 million, RMB 30.3 million, and RMB 36.1 million for the same years [7][9]. Group 4: Revenue Breakdown - In 2024, restaurant operating income is estimated at RMB 3.099 billion, a slight increase of 1.3% from 2023, while takeaway business revenue is projected to grow by 39.8% to RMB 723 million, accounting for 18.8% of total revenue [10]. - The average spending per customer decreased from RMB 61.8 in 2023 to RMB 56.2 in 2024, while the table turnover rate also declined from 3.30 times in 2023 to 3.00 times in 2024 [10]. Group 5: Dividend Policy - Green Tea Group plans to declare a special dividend of no less than RMB 180 million to shareholders by December 2025, contingent on retained earnings from subsidiaries [11].