智通财经APP获悉，据港交所12月31日披露，苏州极易科技股份有限公司(简称：极易科技)向港交所主 板递交上市申请，中信证券为其独家保荐人。该公司曾于2025年6月18日向港交所递表。根据弗若斯特 沙利文，于2024年，按跨境进口电商运营GMV计，公司在中国跨境进口电商运营服务商中排名第一， 占中国跨境进口电商服务市场的8.5%。 | :「編纂]股H股(視乎[編纂]行使與否而定) | [編纂]項下的[編纂]數目 | | --- | --- | | : [編纂]股H股(可予[編纂]) [編纂]數目 | | | :: [編纂]股H股(可予[編纂]及視乎[編纂] [編纂]數目 | | | 行使與否而定) | | | 最高[編纂] : 每股H股[編纂],另加[編纂]以港元[編 | | | 纂],多繳股款可予退還) | | | 面值 : 每股H股人民幣1.00元 | | | [繼臺] | | 公司简介 招股书显示，极易科技是中国领先的数字零售综合运营服务商之一，即一类不仅为品牌方提供服务亦为 大型连锁商超提供服务的电商运营服务商。 公司形成了多样化的解决方案及资产管理能力，为品牌合作伙伴更精准定位品牌形象、更广泛拓展触 ...

本文源自：智通财经网 智通财经获悉，据港交所12月31日披露，苏州极易科技股份有限公司(简称：极易科技)向港交所主板递 交上市申请，中信证券为其独家保荐人。该公司曾于2025年6月18日向港交所递表。招股书显示，极易 科技是中国领先的数字零售综合运营服务商之一，即一类不仅为品牌方提供服务亦为大型连锁商超提供 服务的电商运营服务商。根据弗若斯特沙利文，按2024年GMV 计，公司在中国数字零售综合运营服务 商中排名第二，在中国电商运营服务商中排名第五，占中国电商运营服务市场的1.2%。 ...

智通财经APP获悉，据港交所12月31日披露，苏州极易科技股份有限公司(简称：极易科技)向港交所主板递交上市 申请，中信证券为其独家保荐人。该公司曾于2025年6月18日向港交所递表。招股书显示，极易科技是中国领先的 数字零售综合运营服务商之一，即一类不仅为品牌方提供服务亦为大型连锁商超提供服务的电商运营服务商。根 据弗若斯特沙利文，按2024年GMV 计，公司在中国数字零售综合运营服务商中排名第二，在中国电商运营服务 商中排名第五，占中国电商运营服务市场的1.2%。 ...

招股书显示，极易科技是中国领先的数字零售综合运营服务商及丝路电商服务商，同时也是 AI与数智驱动的品牌资产管理商，致力于以数智科技与高效运 营驱动品牌成长，成就品牌价值。 十年深耕电商运营服务行业，极易科技形成了领跑行业的品牌全价值链闭环服务能力。根据弗若斯特沙利文，按2024年GMV计，极易科技在中国数字零售 综合运营服务商中排名第二，在中国电商运营服务商中排名第五。公司同时也是行业领先的丝路电商服务商。根据弗若斯特沙利文，按2024年跨境进口电商 运营GMV计，极易科技在中国跨境进口电商运营服务商中排名第一。 苏州极易科技股份有限公司于6月18日所递交的港股招股书满6个月，于12月18日失效，递表时中信证券为其独家保荐人。 ...

智通财经APP获悉，苏州极易科技股份有限公司于6月18日所递交的港股招股书满6个月，于12月18日失效，递表时中信证券为其独家保荐人。 招股书显示，极易科技是中国领先的数字零售综合运营服务商及丝路电商服务商，同时也是 AI与数智驱动的品牌资产管理商，致力于以数智科技与高效运 营驱动品牌成长，成就品牌价值。 十年深耕电商运营服务行业，极易科技形成了领跑行业的品牌全价值链闭环服务能力。根据弗若斯特沙利文，按2024年GMV计，极易科技在中国数字零售 综合运营服务商中排名第二，在中国电商运营服务商中排名第五。公司同时也是行业领先的丝路电商服务商。根据弗若斯特沙利文，按2024年跨境进口电商 运营GMV计，极易科技在中国跨境进口电商运营服务商中排名第一。 ...

Core Insights - The article discusses the advantages of Tmall's agency operation model compared to building an in-house team, emphasizing that many merchants opt for agency collaboration due to its multifaceted benefits. Group 1: Core Advantages of Tmall Agency Operation - **Professional Capability**: Agency operators possess deep insights into platform rules, algorithm changes, and industry trends, with teams composed of experienced professionals in various fields, enabling them to implement effective operational strategies quickly [2]. - **Resource Integration**: Agencies have accumulated extensive industry resources, including strong relationships with Tmall, quality supply chain resources, and diverse marketing channels, facilitating easier access to platform activities and reducing supply chain costs [3]. - **Cost Control**: By choosing agency operation, merchants avoid fixed costs associated with hiring, training, and maintaining an in-house team, allowing for more flexible and controllable cost structures [4]. - **Operational Efficiency**: Agency teams have established processes and collaboration mechanisms that allow for quick responses to market changes, thereby shortening operational cycles compared to in-house teams that may face communication and execution delays [5]. Group 2: Decision-Making Considerations for Merchants - **Assessment of Resources and Capabilities**: Merchants with sufficient funds and industry resources may consider building an in-house team for better control over operations, while those with limited resources may benefit from agency expertise [6]. - **Store Development Stage**: In the initial stages, agencies can help merchants quickly establish a market presence, while mature stores with stable performance may consider transitioning to in-house teams for deeper brand control [7]. - **Operational Goals**: For short-term goals like rapid sales growth, agencies can provide effective strategies, whereas for long-term brand building, an in-house team may be better suited to align with brand values [8]. Conclusion - There is no absolute superiority between Tmall agency operations and in-house teams; the choice depends on the merchant's specific circumstances, including resources, capabilities, development stage, and operational goals [9].

Core Viewpoint - The company is focused on improving its cash flow and profitability through various strategic initiatives, including cost control, business transformation, and leveraging acquisitions to enhance its operational capabilities [1][2]. Group 1: Financial Performance - In the first half of 2025, the company's net cash flow from operating activities was -546 million yuan, a significant improvement from -743 million yuan in the same period last year, indicating a narrowing of cash outflow [1]. - The company aims to strengthen accounts receivable management and optimize inventory structure to further enhance cash flow [1]. Group 2: Business Strategy - The company is committed to transforming its core profitability by implementing lean management practices, optimizing sales strategies, and reducing costs through centralized procurement and capacity integration in its industrial sector [1]. - The company has initiated a systematic approach to product development, with 12 industrial products launched, 10 submitted for approval, and 10 approved in the first half of the year, alongside 17 patent applications [1]. Group 3: Acquisition and Synergy - The company has completed the acquisition of 100% equity in Jinsui Technology, which is expected to create synergies with its existing pharmaceutical and industrial businesses [1][2]. - Jinsui Technology's established e-commerce operations and marketing expertise will support the company's transition from a pharmaceutical enterprise to a health-focused enterprise, enhancing its capabilities in e-commerce platform development and brand building [2].

Core Viewpoint - The Hong Kong capital market is experiencing a strong recovery in IPO activities, with a total fundraising of HKD 107.1 billion in the first half of 2025, a sevenfold increase compared to the same period last year, making it the highest globally and the second highest in nearly a decade [1] Company Overview - Suzhou Jiyi Technology Co., Ltd. has submitted its IPO application to the Hong Kong Stock Exchange, with CITIC Securities as its sole sponsor [1] - Jiyi Technology is a leading digital retail comprehensive operation service provider and a Silk Road e-commerce service provider in China, focusing on brand asset management driven by AI and digital intelligence [1] Financial Performance - Jiyi Technology's revenue and profit have shown overall growth, with revenues of approximately RMB 1.117 billion, RMB 1.356 billion, and RMB 1.4 billion for the years 2022, 2023, and 2024 respectively, and annual profits of RMB 37.58 million, RMB 24.87 million, and RMB 49.82 million during the same periods [1][3] - The company's GMV increased from RMB 8.2 billion in 2022 to RMB 11.1 billion in 2023, and further to RMB 15 billion in 2024, reflecting a growth rate of 35.1% and 35.3% respectively [2] Business Segmentation - Jiyi Technology has diversified its revenue structure, with three main business segments: brand-to-consumer solutions, brand-to-business solutions, and brand asset management [4] - The core business, brand-to-consumer solutions, saw its revenue share decrease from 88.5% in 2022 to 60.2% in 2024, while brand-to-business solutions increased from 5.7% to 35.3% during the same period [4] Profitability Analysis - The gross margin for brand-to-consumer solutions increased from 17.8% to 18.4% from 2022 to 2024, while brand-to-business solutions' gross margin rose from 3.0% to 5.4% [5] Technological Advancements - Jiyi Technology has developed a self-researched multimodal heterogeneous computing engine platform for AI, enabling smart content generation and precise marketing recommendations [6] Industry Trends - The e-commerce industry is entering a phase of stable growth, with a 7.2% increase in online retail sales in 2024, and the cross-border e-commerce market continues to expand, reaching RMB 17.66 trillion [7][10] - The shift from online platforms to offline retail is in line with industry trends, as the offline retail market showed a significant recovery with a growth rate of 13.6% in 2024 [10][11]

Group 1 - The core viewpoint of the article is that Suzhou Jiyi Technology Co., Ltd. has submitted its listing application to the Hong Kong Stock Exchange, positioning itself as a leading digital retail comprehensive operation service provider in China, with significant rankings in both digital retail and e-commerce operation sectors [1][2]. - Jiyi Technology ranks second among digital retail comprehensive operation service providers in China and fifth among e-commerce operation service providers based on GMV for 2024, according to Frost & Sullivan data [1]. - The company has established a strong brand value chain service capability, collaborating with over 200 global brands across various categories, including health, beauty, fast-moving consumer goods, home, and appliances [1]. Group 2 - Financial data indicates steady revenue growth for Jiyi Technology, with GMV increasing from 8.2 billion RMB in 2022 to 11.1 billion RMB in 2023, and further to 15.0 billion RMB in 2024, representing growth rates of 35.1% and 35.3% respectively [2]. - Revenue figures for the years 2022, 2023, and 2024 are 1.117 billion RMB, 1.356 billion RMB, and 1.400 billion RMB, respectively, while the gross profit margin has declined from 17.4% in 2022 to 14.4% in 2024 [2]. - Net profit for the years 2022, 2023, and 2024 is reported as 37.58 million RMB, 24.87 million RMB, and 49.82 million RMB, showing a significant drop in 2023 but a recovery in 2024 [2]. Group 3 - The company faces challenges such as high customer concentration, with revenue from the top five customers accounting for 77.3%, 58.7%, and 56.2% of total revenue in 2022, 2023, and 2024, respectively [2]. - The reliance on major e-commerce platforms is a critical risk factor, as the business model heavily depends on maintaining relationships with these platforms [3]. - Regulatory changes and specific risks associated with international and cross-border e-commerce operations are additional challenges that the company must navigate [3].

Core Insights - The article highlights the growth and positioning of the company, Jiyi Technology, as a leading digital retail comprehensive operation service provider in China, focusing on AI-driven brand asset management and cross-border e-commerce services [3][4]. Company Overview - Jiyi Technology is recognized as the second-largest digital retail comprehensive operation service provider in China and the fifth-largest e-commerce operation service provider based on GMV projections for 2024 [3]. - The company ranks first among cross-border import e-commerce operation service providers in China according to GMV for 2024 [3]. Financial Performance - The company's GMV increased from 8.2 billion RMB in 2022 to 11.1 billion RMB in 2023, representing a growth of 35.1%, and is projected to reach 15 billion RMB in 2024, further increasing by 35.3% [4]. - Revenue figures for the years 2022, 2023, and 2024 are approximately 1.12 billion RMB, 1.36 billion RMB, and 1.4 billion RMB respectively [4][6]. - The company reported annual profits of approximately 37.6 million RMB in 2022, 24.9 million RMB in 2023, and 49.8 million RMB in 2024 [4][6]. Service Capabilities - Jiyi Technology has established partnerships with over 200 global brands across various sectors, including health, beauty, fast-moving consumer goods, home, and appliances [3]. - The company provides digital retail comprehensive operation services to major supermarkets, assisting traditional retailers in integrating online and offline channels [3]. Market Positioning - The company has transitioned from a traffic-oriented e-commerce operation model to a consumer demand-driven model, focusing on product innovation and consumer scenario construction [4].