Core Viewpoint - Rongda Technology (stock code: "9881") is a leading supplier of Automatic Identification Data Capture (AIDC) devices and solutions, recently initiating its IPO process with a target listing date of June 10 on the Hong Kong Stock Exchange [1] Group 1: IPO Details - The company plans to issue 18.4 million shares globally, with a price range set between HKD 10 to 12, potentially raising up to HKD 220 million [1] - Several cornerstone investors have shown interest, committing to subscribe for a total of HKD 80.3 million in shares, including Hong Kong Lintai, Cao Ke, Lin Xiaojian, Zhongsheng Group, Li Shuhan, MainAchieve, and Wu Zhifa [1] Group 2: Financial Performance - Rongda Technology's revenue for 2022, 2023, and 2024 is reported at RMB 393.3 million, RMB 348.7 million, and RMB 350.1 million respectively, with gross profits of RMB 89.9 million, RMB 85.5 million, and RMB 99.4 million [2][3] - The company has faced cash flow challenges, holding only RMB 761,000 in cash and cash equivalents as of December 31, 2024, despite stable revenue [2] Group 3: Dividend Distribution - The company has declared dividends of RMB 5 million, RMB 35 million, and RMB 31.5 million for the years 2022, 2023, and 2024, contributing to the reduction in cash and cash equivalents [3] Group 4: Shareholding Structure - The company is primarily controlled by executive directors Xu Kaiming and Xu Kaihe, who collectively hold approximately 93% of the shares through various entities [4] - Other significant shareholders include Lin Huanan (3.29%), Yang Litai (1.38%), and others, with the control position of Xu Kaiming and Xu Kaihe expected to remain stable post-IPO [4] Group 5: Market Position and Future Outlook - Rongda Technology is recognized as a leader in the AIDC sector, with a diverse product line serving multiple industries, including retail, education, and logistics [2][4] - The company aims to leverage capital market support to enhance its R&D capabilities and market competitiveness, ultimately creating greater value for shareholders [4]

Core Viewpoint - Rongda Hezhong Technology Group has successfully passed the Hong Kong Stock Exchange listing hearing and is set to enter the capital market, focusing on automatic identification data collection (AIDC) devices and solutions [1]. Financial Performance - The company's revenue from 2022 to 2024 is projected to be RMB 393.27 million, RMB 348.75 million, and RMB 350.06 million respectively, showing a slight decline in 2023 before stabilizing in 2024 [2]. - Gross profit for the same period is RMB 89.86 million, RMB 85.46 million, and RMB 99.37 million, indicating a recovery in 2024 [2]. - Operating profit is expected to be RMB 43.78 million, RMB 31.00 million, and RMB 46.74 million, with net profit figures of RMB 37.45 million, RMB 27.60 million, and RMB 41.35 million respectively [2][3]. - Adjusted net profit margins are projected at 11.6%, 10.4%, and 14.2% for the years 2022, 2023, and 2024 [2]. Cash Flow and Dividends - The net cash from operating activities is RMB 60.44 million, RMB 24.52 million, and RMB 54.63 million over the three years, while cash and cash equivalents at the end of 2024 are expected to be only RMB 7.61 million, indicating tight cash flow [3]. - Dividends declared to shareholders during this period are RMB 5 million, RMB 35 million, and RMB 31.5 million, which may contribute to the decrease in cash and cash equivalents [3]. Shareholding Structure - The company has a concentrated shareholding structure, with key executives controlling approximately 93% of the shares, primarily through Xiamen Rongxin and other holding platforms [4]. - Major shareholders include Xu Kaiming and Xu Kaihe, who control 39.77% and 47.81% of the shares respectively, while other shareholders hold smaller stakes [5]. Market Position and Future Outlook - The upcoming listing is expected to provide new development opportunities and challenges for the company, potentially enhancing its market position and accelerating technological innovation and business expansion [5].