吉宏股份（02603.HK）今日登陆港交所率先成为"A+H"跨境 社交电商股，开盘涨43%至11港元，上市即入港股通刷新资 本市场效率。其自主研发的Giikin系统实现AI全链路赋能，募 资5.05亿港元将投入东南亚仓储及AI技术升级，锚定跨境电商 万亿新蓝海。 公开资料显示，目前吉宏股份主营业务覆盖 ToC端精准营销跨境社交电商业务和ToB端全案营销设计包装服务，并已在上述两大核心业务板块确立领先 的行业龙头地位。 作者： 王海言 封图：图片资料室 2025年5月27日，吉宏股份（002803.SZ、02603.HK）正式登陆港交所，成为率先 完 成 A+H两地上市的跨境社交电商企业。此外，5月26日，上交 所发布通知将吉宏股份调入沪港通下港股通标的名单，成为率先港股发行上市就入通的企业。 此次 IPO，吉宏股份全球发售6791万股H股，发行价格为7.68港元/股，募资净额约5.05亿港元，拟用于海外市场拓展、技术研发及品牌建设。 上市首日，吉宏股份开盘报 11港元/股，较发行价上涨43.23%，市值突破50亿港元，彰显市场对"双赛道龙头"的认可。 当前，社交电商行业正经历由 AI、大数据等前沿技术驱动的深 ...

5月27日，厦门吉宏科技股份有限公司(简称：吉宏股份（002803）股票代码：02603.HK)将正式登陆香 港联合交易所主板，发行价为每股7.68港元。5月26日，吉宏股份(02603.HK)暗盘交易表现抢眼。于老 虎国际暗盘交易场中收盘报9.61港元/股，较招股价高25.13%。值得注意的是，根据《上海证券交易所 沪港通业务实施办法》的有关规定，吉宏股份是首家上市即纳入港股通的A+H公司。 从包装巨头到跨境社交电商黑马 成立于2003年的吉宏股份，早期以快消品包装业务为核心，凭借高精度印刷技术和规模化生产能力，与 伊利、瑞幸咖啡等知名快消品牌建立密切合作，是为数不多的有能力提供涵盖完整生产过程的一站式包 装解决方案的中国纸制快消品包装解决方案公司之一。 吉宏股份此次港股上市标志着其全球化战略进入新阶段。根据招股书披露，本次募集资金将重点用于深 化东南亚等新兴市场的本地化运营体系建设，加强AI算法研发及供应链数字化升级，同时完善吉喵云 SaaS平台功能模块并培育自有品牌矩阵。 H股上市也为吉宏股份提供了更广阔的融资平台和资金支持，为加速海外市场扩张提供了充足的动力。 此外，A+H架构有助于公司更好地平衡境内 ...

今年以来，在流动性改善、上市制度改革等多重利好推动下，投资者信心得到修复，港股IPO市场亦持 续升温。截止5月18日，港股已上市22只新股，不仅募资额较往年同期有明显增长，打新收益也同步水 涨船高。 市场情绪趋于乐观之际，一家跨境社交电商龙头吉宏股份(02603)于5月19日-5月22日开启招股。公司拟 全球发售6791万股，发售价为每股发售股份7.48-10.68港元，预期将于2025年5月27日登陆港股，并将成 为首家完成A+H两地上市的跨境社交电商企业。 据了解，吉宏股份此次IPO引入了Timber Kangaroo Capital Limited、昱龙国际资本等多个基石投资者。 其中，Timber Kangaroo实控人郑世杰是新加坡人，旗下基金专攻东南亚互联网基建，昱龙国际资本为 一家专注于海内外资本市场的投资公司，由苏施锦女士全资拥有，沈臻宇则是东北老牌药企誉衡药业 (002437.SZ)的董事长，此次IPO入局也表明了专业投资机构对公司前景充满信心。 公开资料显示，吉宏股份已在跨境社交电商和纸制快消品包装两大核心业务板块确立领先的行业龙头地 位。公司2024年亚洲社交电商业务收入规模位居中国B2 ...

Group 1 - The company, Jihong Co., Ltd. (02603), plans to conduct an initial public offering (IPO) from May 19 to May 22, 2025, offering a total of 67.91 million shares, with 10% allocated for public sale in Hong Kong and 90% for international sale [1] - The proposed price range for the shares is between HKD 7.48 and HKD 10.68, with the expected listing date for H-shares on May 27, 2025 [1] - The company operates in cross-border social e-commerce and paper packaging for fast-moving consumer goods (FMCG), providing a one-stop service for FMCG clients since its establishment in 2003 [1] Group 2 - Following its listing on the Shenzhen Stock Exchange in 2016, the company has successfully transformed and expanded its business, achieving notable results in both operational and financial aspects [2] - According to Zhi Shi Consulting, the company ranks second among B2C export e-commerce companies in China with a market share of 1.3% in 2024, focusing on the Asian market [2] - The company is also the leading paper packaging company for FMCG in mainland China, holding a market share of 1.2% in 2024 [2] Group 3 - At an offering price of HKD 9.08 per share, the company expects to net approximately HKD 505.4 million from the global offering, with around 40% allocated for overseas market expansion [2] - Approximately 35% of the funds will be used for technology development, including enhancing research and development capabilities, data analysis, and expanding revenue sources through Jimiaoyun [2] - About 15% will be allocated to expanding the brand portfolio and developing existing proprietary brands, while 10% will be used for working capital and general corporate purposes [2] Group 4 - The company has entered into cornerstone investment agreements, with cornerstone investors agreeing to purchase shares worth USD 20 million at the offering price, including Timber Kangaroo Capital Limited and Yulong International Capital Limited [3] - Notable investors include Ms. Shen Zhenyu, the chairwoman of Harbin Yuheng Pharmaceutical Co., Ltd. (002437.SZ) [3]

Core Viewpoint - The company, Jihong Holdings (02603.HK), is planning a global offering of 67.91 million H-shares, with a price range of HKD 7.48 to HKD 10.68 per share, aiming to raise approximately HKD 505 million for various business expansions and developments [1][4]. Group 1: Company Overview - Jihong Holdings was established in 2003 and focuses on providing one-stop paper packaging products and services for fast-moving consumer goods (FMCG) companies, emphasizing marketing strategies and consumer demand [1]. - The company has successfully transformed and expanded its business since its listing on the Shenzhen Stock Exchange in 2016, achieving notable results in both business and financial aspects [2]. Group 2: Market Position - According to Zhi Shi Consulting, Jihong Holdings ranks second among B2C export e-commerce companies in China with a market share of 1.3% in 2024, focusing on the Asian market [2]. - The company is also the leading paper packaging company in mainland China, holding a market share of 1.2% in the same year [2]. Group 3: Investment and Use of Proceeds - The company has entered into cornerstone investment agreements, with investors agreeing to subscribe for shares totaling USD 20 million (approximately HKD 155 million), representing about 25.2% of the global offering [3]. - The net proceeds from the global offering are expected to be approximately HKD 505 million, with allocations planned for overseas market expansion (40%), technology development (35%), brand development (15%), and working capital (10%) [4].

Core Viewpoint - Xiamen Jihong Technology Co., Ltd. has successfully passed the Hong Kong Stock Exchange listing hearing, positioning itself as a unique player in the "AI-driven cross-border social e-commerce" sector, which is expected to attract significant attention from capital markets [1][2]. Group 1: Unique Positioning and Business Model - Jihong Technology fills a gap in the technology and e-commerce sectors by being the first in the "AI-driven cross-border social e-commerce" field [2]. - The company operates a dual-driven model consisting of cross-border social e-commerce and paper packaging, with projected revenues of 3.366 billion yuan (60.9% of total) from e-commerce and 2.099 billion yuan (38%) from packaging in 2024 [2]. - The synergy between the packaging and e-commerce businesses enhances overall competitiveness, as marketing experience from packaging can benefit e-commerce operations [3]. Group 2: Financial Performance - In Q1 2025, Jihong Technology reported revenues of 1.477 billion yuan, an increase of 11.55% year-on-year, with a net profit of 59.16 million yuan, up 38.21% [3]. - The cross-border social e-commerce business has shown steady growth, generating revenues of 2.834 billion yuan, 3.107 billion yuan, 4.257 billion yuan, and 3.366 billion yuan from 2021 to 2024, with a gross margin of 60.5% expected in 2024 [4]. Group 3: AI Technology and Market Strategy - The company leverages AI technology to enhance operational efficiency, utilizing a unique "product finds people" model to target customers through major social media platforms [5][6]. - Jihong Technology's Giikin system has accumulated over 611,000 SKUs and 5.8 million advertising materials, significantly reducing customer acquisition costs [6]. - The company focuses on the Asian market, with over 80% of its revenue coming from this region, allowing it to avoid the impacts of policy fluctuations in Western markets [7][8]. Group 4: Future Outlook - With the completion of its H-share listing, Jihong Technology is poised for a re-evaluation of its investment value, potentially leading to a new round of value reassessment in the capital markets [4][8].