Core Viewpoint - Impression Dahongpao Co., Ltd. (02695.HK) listed on the Hong Kong Stock Exchange today, opening at HKD 3.26, below the issue price, and closing at HKD 2.33, a decline of 35.28% [1] Group 1: Listing Details - The final offer price for the shares was HKD 3.60, with a total of 36,100,000 shares issued, including 3,610,000 shares for public offering and 32,490,000 shares for international offering [2][3] - At the time of listing, the total number of shares issued was 144,170,000 [1] Group 2: Financial Proceeds - The total proceeds from the offering amounted to HKD 129.96 million, with estimated listing expenses of HKD 26.32 million, resulting in a net amount of HKD 103.64 million [3] - The net proceeds are intended for upgrading the signature performance "Impression Dahongpao," acquiring another cultural tourism project, enhancing brand image, ticketing management systems, and general corporate purposes [3] Group 3: Financial Performance - For the years ending December 31, 2022, 2023, and 2024, the total revenues were approximately RMB 63.0 million, RMB 143.9 million, and RMB 137.2 million, respectively, with net profits/losses of RMB (2.6) million, RMB 47.5 million, and RMB 42.8 million [5][6] - The cash flows from operating activities for the same periods were RMB 16.4 million, RMB 69.3 million, and RMB 60.8 million [7]

Core Viewpoint - Impression Dahongpao Co., Ltd. is set to launch an IPO with a target fundraising amount of HKD 125 million to HKD 148 million, indicating strong market interest in cultural tourism services [1][5]. Company Overview - Impression Dahongpao is a state-owned cultural tourism service enterprise based in Wuyishan, Fujian Province, focusing on cultural tourism performances and comprehensive tourism services [3]. - The company operates three core business segments: performance and show services, Impression Cultural Tourism Town business, and tea hotel business [3]. Performance and Revenue - The primary revenue source for the company is its flagship performance "Impression Dahongpao," which is a significant part of the Wuyishan tourism experience [3]. - The company ranks third in box office revenue among all tourism landscape performances in China for 2024, showcasing its competitive advantage in the cultural tourism market [3]. Financial Performance - The company has shown steady operational performance with net profits recorded for the years ending 2022, 2023, and 2024, as well as for the first half of 2025 [5]. - The net profits for the respective years are as follows: RMB -2.599 million (2022), RMB 47.504 million (2023), RMB 42.809 million (2024), and RMB 6.775 million (2025) [4][5]. - The gross profit margin and operating profit margin have shown positive trends, indicating robust financial health [5].

Core Viewpoint - Impression Dahongpao Co., Ltd. is set to launch an IPO from December 12 to December 17, 2025, aiming to raise between HKD 125 million and HKD 148 million through the issuance of 36.1 million H-shares priced between HKD 3.47 and HKD 4.10 per share [1][6] Company Overview - Impression Dahongpao is a state-owned cultural tourism service enterprise based in Wuyishan, Fujian Province, focusing on cultural tourism performances and comprehensive tourism services [3] - The company operates three core business segments: performance and show services, Impression Cultural Tourism Town business, and tea hotel business [3] Performance Highlights - The flagship performance "Impression Dahongpao" is a key component of the Wuyishan tourism experience, establishing market leadership and serving as the primary revenue source [4] - According to Frost & Sullivan, the company ranks among the top in China's cultural tourism performance market, with a strong competitive advantage [4] - In 2024, the box office revenue from performances ranked third among all tourism landscape performances in China [4] Financial Performance - The company has shown steady operational performance, particularly in the cultural tourism performance market, with recorded profits in the fiscal years ending 2022, 2023, 2024, and the first half of 2025 [5] - The net profits for the respective years were RMB -2.599 million, RMB 47.504 million, RMB 42.809 million, and RMB 6.775 million [5] - The gross profit margin and operating profit margin have shown positive trends, indicating robust financial health [5]

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The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no responsibility for the contents of this Application Proof, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Application Proof. Application Proof of Impression Dahongpao Co., Ltd. 印象大紅袍股份有限公司 (A joint stock company incorporated in the People's Republic of China wi ...