Group 1 - The core viewpoint of the news is that Baige Online (Xiamen) Digital Technology Co., Ltd. is set to become the first AI stock in the domestic insurance industry by listing on the Hong Kong Stock Exchange on December 23 [1] - Baige Online specializes in insurance technology, focusing on distributing scenario-based insurance products, which are underwritten by insurance companies, generating commission income for the company [2] - The scenario-based insurance market in China has over 100 participants, with Baige Online holding a 3.4% market share, ranking first among third-party internet insurance intermediaries [2] Group 2 - The company's revenue for the years 2022, 2023, 2024, and the first half of 2025 is projected to be approximately 405 million, 660 million, 914 million, and 567 million yuan respectively, with gross profits of about 33.5 million, 52.05 million, 83.22 million, and 50.87 million yuan during the same periods [2] - The founder, Tu Jinbo, has a diverse background, having worked as a teacher and in state-owned enterprises before founding Baige Online in 2015, focusing on scenario-based insurance [4][7] - The company plans to use the funds raised from the IPO for research and development in artificial intelligence and big data analysis to enhance its smart risk control and precision marketing capabilities [7]

Core Viewpoint - Baige Online (Xiamen) Digital Technology Co., Ltd. is preparing for its listing on the Hong Kong Stock Exchange, focusing on providing technology-enabled insurance intermediary services, particularly through scenario-based insurance products [1] Group 1: Company Overview - Baige Online operates as an insurtech company, offering technology-driven insurance intermediary services to partners and insurance companies [1] - The company generates revenue primarily through insurance transaction services, precise marketing, digital solutions, and third-party administration (TPA) services [1] - Scenario-based insurance products are tailored for specific needs and situations, providing on-demand coverage for policyholders [1] Group 2: Market Position - According to ZhiShi Consulting, Baige Online ranks 11th among internet insurance intermediaries in China by total premium in 2024, 5th in scenario-based internet insurance intermediaries, and 1st in third-party scenario-based internet insurance intermediaries, holding a market share of 3.4% [1] Group 3: Product Offering - The company's products span across nine ecosystems, addressing various risks in different scenarios rather than focusing on a single type of risk [2] - As of the end of 2024, the company sold approximately 9.94 billion policies to 125 million policyholders, with significant sales in previous years [2] Group 4: Financial Performance - For the six months ending June 30 in 2022, 2023, 2024, and 2025, Baige Online reported revenues of approximately 405 million, 660 million, 914 million, and 567 million RMB respectively, with corresponding gross profits of about 33.5 million, 52.05 million, 83.22 million, and 50.87 million RMB [3]

香港聯合交易所有限公司與證券及期貨事務監察委員會對本聆訊後資料集的內容概不負責，對其準確性或 完整性亦不發表任何意見，並明確表示概不就因本聆訊後資料集全部或任何部分內容而產生或因倚賴該等 內容而引致的任何損失承擔任何責任。 Baige Online Digital Technology Co., Ltd. 白鴿在線（廈門）數字科技股份有限公司 （「本公司」） （於中華人民共和國註冊成立的股份有限公司） 的聆訊後資料集 警告 本聆訊後資料集乃根據香港聯合交易所有限公司（「聯交所」）與證券及期貨事務監察委員會（「證 監會」）的要求而刊發，僅用作提供資訊予香港公眾人士。 本聆訊後資料集為草擬本，其內所載資訊並不完整，亦可能會作出重大變動。 閣下閱覽本文 件，即代表 閣下知悉、接納並向本公司、本公司的聯席保薦人、整體協調人、顧問或包銷團 成員表示同意： 倘於適當時候向香港公眾人士提出要約或邀請，有意投資者務請僅依據於香港公司註冊處處長 註冊的本公司招股章程作出投資決定；招股章程的文本將於發售期內向公眾人士派發。 (a) 本文件僅為向香港公眾人士提供有關本公司的資料，概無任何其他目的；投資者不應根 據本文件中的資料作出 ...