Core Viewpoint - Impression Dahongpao Co., Ltd. is preparing for a listing on the Hong Kong Stock Exchange, focusing on its position in the cultural tourism industry and its notable performances in the market [1][4]. Business Overview - Impression Dahongpao operates in three main business segments: (i) performance and show services; (ii) Impression Cultural Tourism Town; and (iii) tea hotel business [4]. - The flagship performance, "Impression Dahongpao," is a large outdoor show that has been a significant revenue source and ranks third in ticket sales among all tourism performances in China for 2024 [4][5]. Performance Highlights - The company has performed over 6,700 shows since its debut in 2010, attracting over 9.4 million audience members [5]. - A new performance titled "Moonlight Wuyi" is set to debut on May 1, 2025, expanding the company's offerings to cater to a broader audience [5]. Financial Performance - For the six months ending June 30, 2022, 2023, 2024, and 2025, the company reported revenues of approximately RMB 63.04 million, RMB 144 million, RMB 137.2 million, and RMB 55.88 million respectively [8][9]. - The net profit for the same periods was approximately RMB -2.6 million, RMB 47.5 million, RMB 42.8 million, and RMB 6.78 million respectively [8][9].

Core Viewpoint - Impression Holdings has submitted a new listing application to the Hong Kong Stock Exchange, with the company being a state-owned cultural tourism service provider based in Wuyishan, Fujian Province [1][4]. Business Overview - Impression Holdings operates in three main segments: performance and show services, Impression cultural tourism town business, and tea soup hotel business [4]. - The company has been listed on the New Third Board since January 20, 2017 [4]. - According to Frost & Sullivan, Impression Holdings ranks eighth in China's cultural tourism performance market by revenue in 2024, with its flagship performance "Impression Da Hong Pao" being a significant revenue source [4]. Revenue Generation - The revenue from "Impression Da Hong Pao" for the years ending December 31 for 2022, 2023, and 2024, and for the six months ending June 30, 2024, and 2025, was approximately RMB 57.6 million, RMB 136 million, RMB 130 million, RMB 47.9 million, and RMB 49.1 million, respectively, accounting for about 91.4%, 94.3%, 94.6%, 93.0%, and 87.8% of total revenue for those years [4]. Financial Performance - The company reported revenues of approximately RMB 63.04 million, RMB 144 million, RMB 137.2 million, and RMB 55.88 million for the years ending June 30 for 2022, 2023, 2024, and 2025, respectively [5][8]. - The corresponding profits for the same periods were approximately RMB -2.6 million, RMB 47.5 million, RMB 42.8 million, and RMB 6.78 million [5][8]. - The company has a high dependency on performance and show services, which, while stable, still carries certain risks [5].