Core Viewpoint - LeMo Technology, known for its shared electric massage chairs, is set to go public on the Hong Kong Stock Exchange, aiming to raise approximately HKD 222 million through the issuance of 5.56 million shares at HKD 40 each, with the listing expected on December 3 [1] Company Overview - LeMo Technology is recognized as the leading provider in the machine massage service market in China, holding a market share of 33.9%, 37.3%, and 42.9% from 2022 to 2024 based on transaction volume, and over 50% based on revenue [1] - The company operates under the brand "LeMo Bar," providing services in various public locations such as shopping malls, cinemas, high-speed rail stations, and airports [1] Growth and Expansion - From 2022 to 2024, LeMo Technology is in a rapid growth phase, expanding its service points from 21,727 at the end of 2022 to 45,993 by the end of 2024, with over 53,300 massage machines deployed across 337 cities [2] - Revenue projections for the company are expected to grow from CNY 330 million in 2022 to CNY 798 million in 2024, representing an increase of approximately 150% over three years [2] Financial Performance - In the first eight months of 2023, LeMo Technology reported revenue of CNY 631 million, a year-on-year increase of 13.8% from CNY 554 million in the same period last year, indicating a slowdown compared to previous growth rates [2][3] - Profit figures show a significant increase from CNY 6.48 million in 2022 to CNY 87.34 million in 2023, but a slight decline is projected for 2024, with profits expected to decrease by 1.76% to CNY 85.81 million [3] Profitability and Margins - The gross profit margin for machine massage services was 24.66% in 2022 and increased to 41.47% in 2023, but is projected to decline to 36.16% in 2024, reflecting a drop of over 5 percentage points [3] - Despite a slight recovery in gross margin to 36.61% in the first eight months of 2023, it remains below the 41.32% recorded in the same period last year, indicating challenges in maintaining profitability [3] Market Challenges and Future Outlook - LeMo Technology acknowledges challenges in expanding its market share and penetration, including increased service point usage fees, rising equipment costs, and higher operational expenses associated with a direct sales model [4] - The overall market for machine massage services in China is projected to reach CNY 2.7 billion by the end of 2024, with expectations of growth to CNY 5.6 billion by 2029, suggesting that even as a market leader, LeMo Technology may face limitations in scaling [4] - The company plans to accelerate its overseas market expansion by increasing the number of massage machines sold to international partners, but faces challenges such as differing consumer preferences, higher labor costs, and difficulties in securing ideal service locations [4]

星标 ★ IPO日报 精彩文章第一时间推送 "走累了正好按摩休息一下，十几分钟，不耽误什么事儿。"坐落在地铁枢纽站上的上海浦东花木街道某商场人来人往，小 李却旁若无人的躺在乐摩吧按摩椅仓里，边玩手机边享受付费的机器按摩。 AI制图 鹅卵石形态的按摩椅仓几乎包裹住整个身体，按摩椅启动后，椅盖还会下落，从旁边走过的行人只能看到小李露出按摩椅 的双脚，这让这一片按摩椅看起来隐蔽性颇好。 这片乐摩吧有8个按摩仓，包括小李在内的两个人同时在付费按摩，"上座率"达到25%，另有两个按摩仓有人躺着休息， 但机器未在按摩。 上海浦东花木街道某商场内乐摩吧按摩椅 王莹拍摄 争抢"躺赢" 近年来，随着共享经济的发展，除了常见的共享单车、共享充电宝，一些冷门但真实存在的共享衣橱、共享厨房、共享雨 伞、共享睡眠舱、共享工业机床、共享按摩椅、共享儿童玩具……也逐渐出现在我们的生活中。 有的共享产业如共享睡眠舱已被叫停，有的共享产业稳步发展，还有的共享产业已经跑出实现盈利谋求上市的公司。 7月25日，港交所官网显示，共享按摩椅"乐摩吧"的母公司福建乐摩物联科技股份有限公司（下称"乐摩物联"）向港交所 主板提交上市申请，中信建投国际、申万 ...

鹅卵石形态的按摩椅仓几乎包裹住整个身体，按摩椅启动后，椅盖还会下落，从旁边走过的行人只能看到小李露出按摩椅的双脚，这让这一片 按摩椅看起来隐蔽性颇好。 这片乐摩吧有8个按摩仓，包括小李在内的两个人同时在付费按摩，"上座率"达到25%，另有两个按摩仓有人躺着休息，但机器未在按摩。 上海浦东花木街道某商场内乐摩吧按摩椅 王莹拍摄 "走累了正好按摩休息一下，十几分钟，不耽误什么事儿。"坐落在地铁枢纽站上的上海浦东花木街道某商场人来人往，小李却旁若无人的躺在 乐摩吧按摩椅仓里，边玩手机边享受付费的机器按摩。 AI制图 争抢"躺赢" 近年来，随着共享经济的发展，除了常见的共享单车、共享充电宝，一些冷门但真实存在的共享衣橱、共享厨房、共享雨伞、共享睡眠舱、共 享工业机床、共享按摩椅、共享儿童玩具……也逐渐出现在我们的生活中。 有的共享产业如共享睡眠舱已被叫停，有的共享产业稳步发展，还有的共享产业已经跑出实现盈利谋求上市的公司。 7月25日，港交所官网显示，共享按摩椅"乐摩吧"的母公司福建乐摩物联科技股份有限公司（下称"乐摩物联"）向港交所主板提交上市申请， 中信建投国际、申万宏源香港为联席保荐人。 IPO日报注意到，这家 ...

在港股IPO如火如荼的热潮下，有一家内地企业却默默地延缓了上市进程。 7月21日，有消息称以"共享智能按摩服务"为主要业务的福建乐摩物联科技股份有限公司（下简称"乐摩 物联"）在港股提交的IPO招股书已失效。 乐摩物联于2025年1月21日正式向港交所递交招股书，递表时中信建投国际和申万宏源香港为联席保荐 人，而根据港交所规定，企业递交招股书在6个月内未完成上市流程将自动失效。据了解，招股文件失 效并不意味着上市中断或失败，而需要企业补充最新数据重新推进上市流程。 乐摩物联是内地智能按摩服务供应赛道的头部企业，根据咨询公司弗若斯特沙利文的报告，按交易额计 算，乐摩物联在2021年至2023年的市场占有率为29.4%、33.9%及37.3%。与近年来接连败退离场的同行 对比，乐摩物联展现出了强劲的扩张势头。 根据招股书，截止2025年1月21日，乐摩物联已在商场、影院、交通枢纽等日常生活场所投放超50万台 智能按摩设备，设立超过4.5万个服务网点。据招股书透露，这为其带来上亿元收入，2022年及2023年 乐摩分别取得3.3亿元和5.87亿元收入，2024年仅前9个月便取得了6.15亿元收入，超过2023年全年 ...