Group 1 - LeMo Technology successfully listed on the Hong Kong Stock Exchange on December 3, 2025, with a share price of HKD 40.00, raising a total of HKD 222 million [2] - The company launched the "LeMo Bar" brand in 2016, providing machine massage services in commercial complexes, cinemas, and transportation hubs, establishing over 48,000 service points and deploying more than 533,000 massage machines across 31 provinces and 337 cities in China [4] - According to Frost & Sullivan, LeMo Technology ranked first among all machine massage service providers in China by transaction value from 2022 to 2024 [4] Group 2 - The public offering for LeMo Technology was highly successful, with a subscription rate of 7,324.29 times, leading to a high-end pricing within the price range [4] - Shenwan Hongyuan Hong Kong played a crucial role in the listing process, leveraging domestic and international resources to support the company's successful IPO [4] - The company aims to continue enhancing its internationalization and integration strategies, taking advantage of opportunities from domestic and international market connectivity to build a "dual circulation" ecosystem in investment banking [4]

Core Viewpoint - LeMo Technology (02539) has successfully listed its shares at a price of HKD 40 each, raising approximately HKD 182 million, with a significant initial trading increase of 62% to HKD 64.8 [1] Company Overview - LeMo Technology provides massage services through machine-operated devices located in high-traffic public areas across China [1] - The company launched the "LeMo Bar" brand in 2016, focusing on providing machine massage services in commercial complexes, cinemas, and transportation hubs such as airports and high-speed rail stations [1] Market Position - According to Frost & Sullivan, LeMo Technology ranked first in the Chinese machine massage service market by transaction value for three consecutive years from 2022 to 2024 [1] - By revenue, LeMo Technology is projected to hold over 50% market share in the domestic market by 2024, significantly surpassing other competitors [1] Expansion and Coverage - As of November 15, 2025, LeMo Technology has established over 48,000 service points and deployed more than 533,000 machine massage devices across 31 provincial-level administrative regions and 337 cities in China [1]

Core Viewpoint - LeMo Technology (02539) has successfully listed its shares at a price of HKD 40 each, raising approximately HKD 182 million, with a significant initial trading increase of 62% to HKD 64.8 [1] Company Overview - LeMo Technology provides massage services through machine-operated devices located in high-traffic public areas across China [1] - The company has established over 48,000 service points and deployed more than 533,000 massage machines, covering all 31 provincial-level administrative regions and 337 cities in China [1] Market Position - According to Frost & Sullivan, LeMo Technology ranks first in the Chinese machine massage service market by transaction value for three consecutive years from 2022 to 2024 [1] - By revenue, LeMo Technology is projected to hold over 50% market share in 2024, significantly surpassing other competitors in the market [1]

Core Viewpoint - LeMo Technology is launching an IPO with a global offering of 5.5556 million shares priced between HKD 27 and HKD 40, indicating strong market interest with an oversubscription of approximately 5912.8 times [1] Group 1: Company Overview - LeMo Technology provides machine massage services through its network of service points located in high-traffic public areas across China [1] - The company has established over 48,000 service points and deployed more than 533,000 massage machines, covering all 31 provincial-level administrative regions and 337 cities in China by November 2025 [2] - The company has achieved a compound annual growth rate (CAGR) of approximately 45.49% in expanding its service points from 21,727 in December 2022 to 45,993 by December 2024 [2] Group 2: Market Position - According to Frost & Sullivan, LeMo Technology ranks first among all machine massage service providers in China by transaction volume, with market shares of 33.9%, 37.3%, and 42.9% for the years 2022, 2023, and 2024 respectively [1] - By 2024, the company is expected to hold over 50% market share in terms of revenue within the Chinese machine massage market [1] Group 3: Financial Performance - The company reported revenues of approximately RMB 330 million, RMB 587 million, RMB 798 million, and RMB 631 million for the fiscal years 2022, 2023, 2024, and the eight months ending August 31, 2025, respectively [2] - The net profit and total comprehensive income for the same periods were RMB 6.481 million, RMB 87.34 million, RMB 85.807 million, and RMB 88.55 million [2]

Core Insights - LeMo Technology (02539) is conducting an IPO from November 25 to 28, aiming to issue 5.5556 million shares at a price range of HKD 27 to HKD 40, with a significant oversubscription of approximately 5912.8 times as of November 28 [1][2] Company Overview - LeMo Technology launched the "LeMo Bar" brand in 2016, focusing on providing machine massage services in commercial complexes, cinemas, and transportation hubs across China [2] - As of November 15, 2025, the company has established over 48,000 service points and deployed more than 533,000 massage machines, covering all 31 provincial-level administrative regions and 337 cities in China [2] Market Position - According to Frost & Sullivan, LeMo Technology ranks first among all machine massage service providers in China by transaction volume, with market shares of 33.9%, 37.3%, and 42.9% for the years 2022, 2023, and 2024 respectively [1] - By 2024, the company is expected to hold over 50% market share in terms of revenue within the Chinese machine massage market [1] Financial Performance - The company reported revenues of approximately RMB 330 million, RMB 587 million, RMB 798 million, and RMB 631 million for the fiscal years 2022, 2023, 2024, and the eight months ending August 31, 2025, respectively [2] - Net profit and total comprehensive income for the same periods were RMB 6.481 million, RMB 87.34 million, RMB 85.807 million, and RMB 88.55 million [2] Growth Metrics - The number of service points expanded from 21,727 as of December 31, 2022, to 45,993 by December 31, 2024, reflecting a compound annual growth rate (CAGR) of approximately 45.49% [2] - The company has a strong consumer base, with over 174 million identifiable service consumers and more than 40 million registered members as of November 15, 2025 [2]

Core Viewpoint - LeMo Technology, a leading provider of shared massage chairs, is preparing for its IPO, with annual revenue nearing 800 million RMB, driven by its extensive network of massage services in high-traffic public areas [1][3]. Group 1: IPO Information - Company Name: LeMo Technology (02539.HK) [2] - Industry: Massage Machine Services [2] - IPO Dates: November 25 to November 28 [2] - Total Shares Offered: 5.5556 million shares, with 10% for public sale and 90% for international placement [2] - Price Range: 27 to 40 HKD per share [2] - Market Capitalization: 1.5 billion to 2.222 billion HKD [2] - Earnings Ratio: 20 times [2] - Minimum Subscription Amount: 4040 HKD [2] - Expected Listing Date: December 3 [2] - Underwriters: CITIC and Shenwan Hongyuan [2] Group 2: Company Overview - Established in 2014, LeMo Technology launched the "LeMo Bar" brand in 2016, providing massage services through machines in densely populated public areas across China [2]. - As of now, the company has over 48,000 service points and more than 535,000 massage machines deployed, covering 31 provincial-level administrative regions and 337 cities in mainland China [5]. Group 3: Market Position and Financial Performance - From 2022 to 2024, LeMo Technology ranked first in the Chinese machine massage service market by transaction volume, with market share increasing from 33.9% to 42.9% [3]. - Revenue is projected to grow from 330.154 million RMB in 2022 to 797.991 million RMB in 2024, more than doubling [6]. - For the first eight months of 2025, the company achieved revenue of 631 million RMB, surpassing the same period last year [6]. - Net profit increased significantly from 6.481 million RMB in 2022 to 87.34 million RMB in 2023, with a slight decrease expected in 2024 [7]. Group 4: Business Model - The company's primary revenue source is the direct operation model, contributing over 83% of total revenue, while the partner model accounts for approximately 14% [8][9]. - The average massage fee per transaction has risen from 12.28 RMB in 2022 to 14.69 RMB in 2024, indicating a growing consumer willingness to pay for services [10]. Group 5: Industry Outlook - The Chinese machine massage service market is expected to grow from 3.102 billion RMB in 2025 to 5.606 billion RMB in 2029, with a compound annual growth rate of 15.9% [11]. - The overall market growth is driven by increased public health awareness and the demand for relaxation among consumers [11]. - The competitive landscape is intensifying, with smaller players exiting the market due to rising costs and declining profitability [12].

Core Viewpoint - LeMo Technology is set to launch its IPO from November 25 to November 28, 2025, aiming to raise approximately HKD 147 million through the global offering of 5.5556 million shares, with a price range of HKD 27 to HKD 40 per share [1] Company Overview - LeMo Technology operates under the "LeMo Bar" brand, providing machine massage services in public venues such as commercial complexes, cinemas, and transportation hubs [1] - As of the latest feasible date, the company has established over 48,000 service points and deployed more than 533,000 machine massage devices across 31 provincial-level administrative regions and 337 cities in China [1] Market Position - According to Frost & Sullivan, LeMo Technology ranked first among all machine massage service providers in China by transaction volume from 2022 to 2024, with a market share of 42.9% in 2024 [1] - By revenue, the company also holds the top position in the Chinese machine massage market, with a market share exceeding 50% in 2024 [1] Financial Utilization - The funds raised from the IPO will be allocated as follows: 60% for expanding service network coverage and penetration, 20% for continuous technology enhancement and iteration, 10% for brand improvement, and 10% for supporting working capital and other general corporate purposes [1] Customer Base - The company has cumulatively recognized over 174 million service consumers and has more than 40 million registered members [1]

Core Viewpoint - LeMo Technology (02539.HK) plans to globally offer 5.5556 million H-shares, with a price range of HKD 27.00 to 40.00 per share, aiming for a listing on December 3, 2025 [4][11] Company Overview - LeMo Technology provides massage services through machine massage equipment located in high-traffic public areas across China [4] - The company has established over 48,000 service points and deployed more than 533,000 massage machines, covering all 31 provincial-level administrative regions and 337 cities in China [5][7] Market Position - According to Frost & Sullivan, LeMo Technology ranks first among machine massage service providers in China by transaction value, with market shares of 33.9%, 37.3%, and 42.9% for the years 2022 to 2024 [11] - The company holds over 50% market share in the Chinese machine massage market by revenue in 2024 [4] Financial Performance - LeMo Technology's total revenue for the years ending December 31 for 2022, 2023, and 2024 was RMB 330 million, RMB 587 million, and RMB 798 million, respectively, with year-on-year growth rates of 77.75%, 35.98%, and 13.80% [9] - The company's gross profit for the same periods was RMB 85.34 million, RMB 245 million, and RMB 288 million [10] Consumer Base - The company has a cumulative identifiable consumer base of over 174 million, with more than 40 million registered members [5] - The average daily transaction volume per massage machine decreased from 2.95 in 2023 to 2.04 in 2024 due to a significant increase in the number of machines [10] Future Plans - To enhance the average daily transaction volume per machine, LeMo Technology plans to strengthen online marketing activities across various social media platforms [10] - The estimated net proceeds from the global offering will be approximately HKD 147 million, with allocations for expanding service points, technology enhancement, brand improvement, and general corporate purposes [11]

Core Viewpoint - LeMo Technology (02539.HK) plans to globally offer 5.5556 million H-shares, with a price range of HKD 27.00 to HKD 40.00 per share, aiming to expand its market presence in the machine massage service sector in China [1][2]. Group 1: Company Overview - LeMo Technology is the leading provider of machine massage services in China, holding market shares of 33.9%, 37.3%, and 42.9% from 2022 to 2024 based on transaction volume [1]. - By 2024, the company is expected to have over 50% market share in terms of revenue within the Chinese machine massage market [1]. - The company has established over 48,000 service points and deployed more than 533,000 machine massage devices across 31 provincial-level administrative regions and 337 cities in China [2]. Group 2: Market Size and Growth - The machine massage service market in China is projected to reach RMB 2.7 billion in 2024, representing approximately 0.5% of the overall massage market, which is estimated at RMB 53.62 billion [2]. - The company has expanded its service points from 21,727 in 2022 to 45,993 by the end of 2024, achieving a compound annual growth rate (CAGR) of approximately 45.49% [2]. Group 3: Use of Proceeds from Share Offering - Assuming a share price of HKD 33.50, the company estimates net proceeds of approximately HKD 147 million from the global offering [3]. - The allocation of proceeds includes approximately 60% for expanding service point coverage, 20% for technology enhancement, 10% for brand improvement, and 10% for operational funding and general corporate purposes [3].

Core Viewpoint - The company, LeMo Technology, is set to launch an IPO from November 25 to November 28, 2025, aiming to raise approximately HKD 147 million through the global offering of 5.5556 million shares, with a price range of HKD 27 to HKD 40 per share [1] Company Overview - LeMo Technology ranks first among machine massage service providers in China by transaction value, with market shares of 33.9%, 37.3%, and 42.9% for the years 2022 to 2024 respectively [2] - By revenue, the company is projected to hold over 50% market share in the Chinese machine massage market in 2024 [2] - The company has established over 48,000 service points and deployed more than 533,000 massage machines across 31 provincial-level regions and 337 cities in China [2] Financial Performance - The total revenue for the company for the years ending December 31 for 2022, 2023, and 2024 was RMB 330 million, RMB 587 million, and RMB 798 million respectively, with year-on-year growth rates of 77.75%, 35.98%, and 13.80% [3] - The net profit for the same periods was RMB 6.481 million, RMB 87.34 million, and RMB 85.81 million respectively [3]