Company Overview - Hangzhou Tongshifu Cultural and Creative (Group) Co., Ltd. has submitted an application to list on the main board of the Hong Kong Stock Exchange, with CMB International as the sole sponsor [1] - The company focuses on integrating traditional craftsmanship with modern design to develop copper cultural and creative products, holding a leading market position in China's copper cultural product market with a market share of 35.0% as of December 31, 2024 [5][6] Financial Performance - Revenue figures for Tongshifu are approximately RMB 503.2 million, RMB 506.4 million, and RMB 571.2 million for the years ending 2022, 2023, and 2024 respectively, with a revenue of RMB 283.6 million and RMB 308.2 million for the six months ending June 30, 2024, and 2025 respectively [7][10] - Profit figures for the same periods are RMB 56.9 million, RMB 44.1 million, and RMB 78.0 million for 2022, 2023, and 2024 respectively, with profits of RMB 39.8 million and RMB 30.2 million for the six months ending June 30, 2024, and 2025 respectively [8][10] - Gross profit margins have shown a positive trend, with margins of 32.2%, 32.4%, and 35.4% for 2022, 2023, and 2024 respectively, and margins of 36.0% and 35.1% for the six months ending June 30, 2024, and 2025 respectively [9][10] Industry Overview - The global cultural and creative industry is projected to grow from RMB 16.0 trillion in 2019 to RMB 19.5 trillion by 2024, with a compound annual growth rate (CAGR) of 4.0% [11] - The market for cultural and creative products in China is expected to expand from RMB 4.5 trillion in 2019 to RMB 6.4 trillion by 2024, with a CAGR of 7.4% [13] - The market for metal cultural products in China is anticipated to grow from RMB 231 billion in 2019 to RMB 252 billion by 2024, with copper products leading the growth at a CAGR of 7.3% [17]

Core Viewpoint - The company, Hangzhou Tongshifu Cultural and Creative (Group) Co., Ltd., has submitted an application for listing on the Hong Kong Stock Exchange, with CMB International as the sole sponsor. The company focuses on integrating traditional craftsmanship with modern design to develop copper cultural and creative products, holding a leading market position in China [1][5]. Company Overview - Tongshifu has maintained a strong market presence in the copper cultural and creative product sector, ranking first in China with a market share of 35.0% as of December 31, 2024 [5][6]. - The company has evolved from a traditional copper workshop into a leading cultural brand over ten years, expanding its product range to include gold, silver, and plastic materials [5][6]. - The core product category remains copper cultural and creative products, which accounted for approximately 94.9% to 96.6% of total revenue from 2022 to 2024 [6][7]. Financial Performance - Revenue figures for Tongshifu are as follows: approximately CNY 5.03 billion in 2022, CNY 5.06 billion in 2023, and CNY 5.71 billion in 2024, with estimates of CNY 2.84 billion and CNY 3.08 billion for the first half of 2024 and 2025, respectively [7][10]. - Profit figures show a decline from CNY 569.38 million in 2022 to CNY 441.31 million in 2023, followed by an increase to CNY 789.82 million in 2024, with estimates of CNY 397.65 million and CNY 302.44 million for the first half of 2024 and 2025, respectively [8][10]. - Gross profit margins have improved from 32.2% in 2022 to 35.4% in 2024, with a slight decrease to 35.1% in the first half of 2025 [9][10]. Industry Overview - The global cultural and creative industry is projected to grow from CNY 16 trillion in 2019 to CNY 19.5 trillion by 2024, with a compound annual growth rate (CAGR) of 4.0% [11]. - The cultural and creative product market in China is expected to expand from CNY 4.5 trillion in 2019 to CNY 6.4 trillion by 2024, with a CAGR of 7.4% [13]. - The metal cultural and creative product market in China is anticipated to grow from CNY 231 billion in 2019 to CNY 252 billion by 2024, with copper products showing the strongest growth at a CAGR of 7.3% [16].