Company Overview - SATP Holding Inc. (referred to as "慧算账") submitted its Hong Kong IPO prospectus on March 7, which became invalid six months later on September 7, with CITIC Securities acting as the sole sponsor during the submission [1] - The company provides accounting and tax agency services primarily through SaaS-based solutions targeted at small and micro enterprises, with professional teams available for support when manual intervention is needed [2] Market Position - In 2024, the company achieved an 80.0% customer retention rate, surpassing the industry average, due to its commitment to long-term relationships with small and micro enterprise clients and its brand recognition in the industry [2] - According to Frost & Sullivan, the company was the largest provider of financial and tax solutions for small and micro enterprises in China by total revenue from 2021 to 2023 [2] - The market in which the company operates is highly fragmented and still in the early stages of digitalization, with a market share of 0.5% in 2023 based on revenue [2]