Core Viewpoint - Shenghuo Technology Group Limited has submitted its listing application to the Hong Kong Stock Exchange, aiming to enhance its financing capabilities and expand its shareholder base through international capital market access [1][2]. Group 1: Company Overview - Shenghuo Technology, established in 2013, is a technology-driven marketing company specializing in integrated marketing services, marketing technology services, and advertising marketing services [2]. - The company has developed a proprietary "one code for one item" technology that embeds QR codes on product packaging, helping clients create data-driven marketing strategies [2]. - According to Frost & Sullivan, Shenghuo ranks fourth among QR code marketing solution providers in China, with a market share of approximately 1.8% as of 2024 [2]. Group 2: Financial Performance - Shenghuo Technology reported revenues of 112 million yuan, 163 million yuan, 252 million yuan, and 129 million yuan for the years 2022, 2023, 2024, and the first half of 2025, respectively [2]. - The net profits for the same periods were 19.78 million yuan, 27.15 million yuan, 33.20 million yuan, and 12.11 million yuan [2]. - The company’s revenue is highly dependent on a few major clients, with revenue contributions from the top five clients being 96.1%, 91.2%, 79.8%, and 94.1% for the years 2022, 2023, 2024, and the first half of 2025, respectively [4]. Group 3: Client Dependency and Risks - Shenghuo Technology's financial performance is significantly influenced by its relationships with major clients and its ability to acquire new clients [4]. - The largest client accounted for 87.9%, 78.6%, 49.3%, and 45.2% of the company's revenue for the years 2022, 2023, 2024, and the first half of 2025, respectively [4]. - The company acknowledges that any reduction in demand from major clients or failure to maintain and expand its client base could adversely affect its financial condition and operational performance [4]. Group 4: Future Plans - The funds raised from the IPO are intended for upgrading and developing AI vertical intelligence, enhancing marketing solutions, expanding operations in Southeast Asia and Hong Kong, and acquiring new clients domestically [3].

Company Overview - Shenghuo Technology Group Limited has submitted a listing application to the Hong Kong Stock Exchange, with Cinda International as its sole sponsor [1] - Established in 2013, the company is an integrated marketing and advertising service provider based in Guangzhou, China [4] Business Focus - The company specializes in providing integrated marketing services, marketing technology services, and advertising marketing services in China [4] - In 2018, Shenghuo Technology expanded its service offerings by utilizing proprietary "one code, one item" technology to deliver data-driven marketing solutions [4] Market Growth - According to Frost & Sullivan, the integrated marketing market in China is expected to grow at a compound annual growth rate (CAGR) of 4.6% from approximately RMB 67.2 billion in 2020 to RMB 80.4 billion in 2024 [4] - By 2029, the market size is projected to reach approximately RMB 99.3 billion, with a forecasted CAGR of about 4.3% from 2024 to 2029 [4] Service Ranking - Based on 2024 revenue projections, Shenghuo Technology ranks fourth among QR code marketing solution providers in China, holding a market share of approximately 1.8% [4] Financial Performance - The company declared dividends of RMB 0, RMB 0, RMB 10.4 million, and RMB 77.6 million for the fiscal years 2022, 2023, 2024, and the first six months of 2025, respectively [4] - Revenue figures for the fiscal years 2022, 2023, 2024, and the first six months of 2025 were approximately RMB 112.3 million, RMB 163.4 million, RMB 252 million, and RMB 129 million, respectively [5][6] - The net profit for the same periods was approximately RMB 19.8 million, RMB 27.2 million, RMB 33.2 million, and RMB 12.1 million [5][6] Client Dependency - The company has a high dependency on its top five clients, with revenue contributions of approximately 96.1%, 91.2%, 79.8%, and 94.1% for the fiscal years 2022, 2023, 2024, and the first six months of 2025, respectively [5] - The largest client accounted for approximately 87.9%, 78.6%, 49.3%, and 45.2% of the company's revenue during the same periods [5]