Core Viewpoint - Suzhou Jiyi Technology Co., Ltd. is a leading digital retail comprehensive operation service provider and Silk Road e-commerce service provider in China, focusing on brand asset management driven by AI and digital intelligence [2] Group 1: Company Overview - Jiyi Technology submitted its Hong Kong IPO prospectus on June 18, which became invalid after six months on December 18, with CITIC Securities as the sole sponsor [1] - The company has been deeply engaged in the e-commerce operation service industry for ten years, establishing a leading full value chain service capability in the industry [2] Group 2: Market Position - According to Frost & Sullivan, Jiyi Technology ranks second among digital retail comprehensive operation service providers in China by GMV in 2024, and fifth among e-commerce operation service providers [2] - The company is also recognized as the leading Silk Road e-commerce service provider, ranking first among cross-border import e-commerce operation service providers in China by GMV in 2024 [2]

Group 1 - The core viewpoint of the article highlights that Suzhou Jiyi Technology Co., Ltd. submitted its Hong Kong IPO prospectus on June 18, which became invalid after six months on December 18, with CITIC Securities acting as the sole sponsor during the submission [1] Group 2 - Jiyi Technology is recognized as a leading digital retail comprehensive operation service provider and Silk Road e-commerce service provider in China, focusing on brand asset management driven by AI and digital intelligence [2] - The company has developed a full value chain closed-loop service capability in the e-commerce operation service industry over ten years, ranking second among digital retail comprehensive operation service providers and fifth among e-commerce operation service providers in China by GMV in 2024, according to Frost & Sullivan [2] - Jiyi Technology is also the leading Silk Road e-commerce service provider, ranking first among cross-border import e-commerce operation service providers in China by GMV in 2024, as per Frost & Sullivan [2]

Core Viewpoint - Suzhou Jiyi Technology Co., Ltd. has submitted its IPO application to the Hong Kong Stock Exchange, with CITIC Securities as the sole sponsor, marking a significant step for the company in the digital retail and e-commerce service sector in China [3]. Group 1: Company Overview - Established in October 2015, Jiyi Technology is a comprehensive digital retail operation service provider and Silk Road e-commerce service provider in China [3]. - The company focuses on brand asset management driven by AI and digital intelligence, aiming to enhance brand growth and value [3]. Group 2: Investment and Financing - Jiyi Technology received its first significant investment from JD Group's Jiangsu JD Bangneng Investment Management Co., Ltd. in January 2018, which acquired a 25% stake for 25 million RMB [3]. - The company has completed five rounds of financing, including pre-IPO funding, raising a total of approximately 440 million RMB [3]. Group 3: Shareholding Structure - Prior to the IPO application, the controlling shareholder, Wang Shan, held approximately 33.45% of the company's equity through various entities [4]. - Wang Shan has gradually diluted her shareholding through multiple transfers, cashing out approximately 47.9 million RMB [4]. Group 4: Special Rights and Agreements - Investors have been granted special rights, including tag-along rights, preemptive rights, anti-dilution rights, redemption rights, and board nomination rights [7]. - Although the related agreements were suspended upon the IPO application submission, they will automatically resume if the IPO is rejected or not completed within 18 months [8].