Core Viewpoint - Idea Tech Holding Limited, the parent company of STEM education and drone distributor Aisnada, has filed for an IPO on NASDAQ under the ticker "IDTL," aiming to raise approximately $9 million through the issuance of 2 million shares priced between $4 and $5 each [2]. Company Overview - Aisnada was established in 2018 and is headquartered in Hong Kong, specializing in STEM and technology innovation education solutions [3]. - The company is an authorized distributor for DJI's iFlight drones, the exclusive distributor for HuLa educational drones in Hong Kong, and holds exclusive rights for BattleAce educational and competitive robots from XuanZhi Technology in Hong Kong [3]. Financial Performance - For the fiscal year ending June 30, 2024, Aisnada reported total revenues of approximately $4.58 million, with a net income of $1.04 million. Revenue from software and hardware sales accounted for 58.21% of total revenue, while STEM education training courses contributed 36.28% [8]. - In the first half of fiscal year 2024, Aisnada's total revenue was approximately $1.99 million, with a net income of $0.31 million. Software and hardware sales represented 53.40% of total revenue, and STEM education training courses accounted for 29.38% [9]. Use of Proceeds - Aisnada plans to utilize approximately $756,000 of the net proceeds from the IPO as follows: 46% for expanding service capabilities and upgrading technology, 10% for marketing and branding activities, 18% for international market expansion, and 26% for general operational expenses [2]. Market Coverage and Expansion Plans - Aisnada's products and services currently cover 35% of Hong Kong's primary and secondary schools, reaching over 5,000 students across 345 schools [10]. - The company's expansion strategy includes four phases: entering the mainland China market, localizing and standardizing global content, integrating third-party offline hardware, and expanding overseas market operations, particularly focusing on Southeast Asia [10][11][12]. Business Model - Aisnada operates under both B2B and B2C models, collaborating with schools and organizations in Hong Kong to provide technology education products and services, while also targeting parents as potential customers for educational products [6]. Supplier Dependency - Aisnada's market position is closely tied to its relationships with major suppliers like DJI and HuLa. Any disruption in these partnerships could significantly impact its ability to offer differentiated products and affect revenue negatively [13].