Core Viewpoint - Impression Dahongpao (02695), a state-owned cultural tourism service enterprise, is conducting an IPO with significant oversubscription, indicating strong market interest and potential growth in the cultural tourism sector in China [1] Group 1: IPO Details - The IPO is scheduled from December 12 to 17, with a total of approximately HKD 378 billion in margin financing borrowed by brokers as of December 17, indicating an oversubscription of 2,553 times against the public offering amount of HKD 14.8 million [1] - Impression Dahongpao plans to issue 36.1 million H-shares, with 10% allocated for public offering at a price range of HKD 3.47 to HKD 4.1, aiming to raise up to HKD 150 million [1] - The company is expected to be listed on December 22, with joint sponsors being Xingzheng International and Kaisheng [1] Group 2: Business Overview - Impression Dahongpao is headquartered in Wuyishan, Fujian Province, and ranks eighth in China's cultural tourism performance market based on sales revenue from performance programs, according to Frost & Sullivan [1] - The company's operations are divided into three main segments: (i) performance and show services, (ii) Impression Cultural Tourism Town business, and (iii) tea and hotel business [1] Group 3: Use of Proceeds - The net proceeds from the global offering will be allocated as follows: approximately 23% for upgrading the flagship performance "Impression Dahongpao," 28.6% for developing the Impression Jianzhou food-themed street and enhancing the Impression Cultural Tourism Town by 2026, and 20% for acquiring another quality cultural tourism performance project [2] - Additionally, around 11% will be used for brand enhancement and business influence promotion, 7.4% for upgrading the ticket management system and software, and 10% for working capital and other general corporate purposes [2]

Core Viewpoint - Impression Dahongpao, a state-owned cultural tourism service enterprise, is set to launch its IPO with significant oversubscription, indicating strong market interest and potential growth in the cultural tourism sector in China [1] Group 1: IPO Details - The IPO will take place from December 12 to 17, with a public offering amounting to HKD 14.8 million and an oversubscription rate of 2,553 times as of December 17 [1] - Impression Dahongpao plans to issue 36.1 million H-shares at a price range of HKD 3.47 to HKD 4.1, aiming to raise up to HKD 1.5 billion [1] - The company is expected to be listed on December 22, with joint sponsors being Xingzheng International and Kaisheng [1] Group 2: Business Overview - Impression Dahongpao is headquartered in Wuyishan, Fujian Province, and ranks eighth in China's cultural tourism performance market based on sales revenue from performances [1] - The company has been listed on the New Third Board since January 20, 2017, under the stock code 870608 [1] - The business segments include performance and show services, Impression Cultural Tourism Town operations, and tea hotel services [1] Group 3: Use of Proceeds - Approximately 23% of the net proceeds will be used to upgrade the flagship performance "Impression Dahongpao" [2] - About 28.6% will be allocated to further develop the Impression Jianzhou food-themed street and enhance the Impression Cultural Tourism Town by 2026 [2] - 20% will be invested in acquiring another quality cultural tourism performance project through management expertise and innovative operational models [2] - 11% will be dedicated to enhancing brand image and expanding business influence through promotional activities [2] - 7.4% will be used to upgrade the ticket management system and software [2] - 10% will serve as working capital and for other general corporate purposes [2]

Core Viewpoint - The company, a state-owned cultural tourism service enterprise based in Wuyishan, Fujian Province, is set to launch an IPO from December 12 to December 17, 2025, aiming to raise approximately HKD 110 million through the issuance of 36.1 million H-shares [1] Group 1: IPO Details - The global offering consists of 36.1 million H-shares, with approximately 10% allocated for public sale in Hong Kong and 90% for international sale, including a 15% over-allotment option [1] - The price range for each share is set between HKD 3.47 and HKD 4.1, with trading expected to commence on December 22, 2025 [1] Group 2: Company Overview - The company ranks eighth in the Chinese cultural tourism performance market based on revenue from performance sales as of 2024 [1] - Key business segments include performance and show services, cultural tourism town operations, and tea hotel services [1] Group 3: Fund Utilization - Assuming the median offering price and no exercise of the over-allotment option, the net proceeds are expected to be approximately HKD 110 million [1] - Allocation of funds includes approximately 23% for upgrading the "Impression Dahongpao" performance, 28.6% for developing a food-themed street and optimizing cultural tourism towns, 20% for acquiring quality cultural tourism performance projects, 11% for brand enhancement and business promotion, 7.4% for upgrading ticket management systems, and 10% for working capital and other general corporate purposes [1]

Core Viewpoint - Impression Dahongpao (02695) is set to launch an IPO from December 12 to December 17, 2025, offering 36.1 million H-shares at a price range of HKD 3.47 to HKD 4.1 per share, with 10% allocated for public sale in Hong Kong and 90% for international sale, plus a 15% over-allotment option [1][3] Company Overview - The company is a state-owned cultural tourism service enterprise headquartered in Wuyishan, Fujian Province [1][3] - According to Frost & Sullivan, the company ranks eighth in China's cultural tourism performance market by revenue in 2024 [1][3] - The company's operations are divided into three main segments: 1. Performance and show services 2. Impression Cultural Tourism Town business 3. Tea and hotel business [1][3] Performance and Services - The performance and show services segment includes: 1. The flagship performance "Impression Dahongpao" scenic show 2. A new performance "Moonlight Wuyi" set to launch in May 2025 3. Customized performances for corporate clients, typically for special events like team-building activities and annual meetings [1][3] Financial Projections - Assuming an offer price of HKD 3.79 per share (the midpoint of the indicative price range) and no exercise of the over-allotment option, the company estimates a net proceeds of approximately HKD 110 million from the global offering after deducting underwriting commissions and other estimated expenses [2][4]

Core Viewpoint - The company, Impression Da Hong Pao, is set to launch an IPO from December 12 to December 17, 2025, aiming to raise approximately HKD 110 million through the sale of 36.1 million H-shares, with a price range of HKD 3.47 to HKD 4.1 per share [1][2]. Group 1: Company Overview - Impression Da Hong Pao is a state-owned cultural tourism service enterprise headquartered in Wuyishan, Fujian Province, ranking eighth in China's cultural tourism performance market by revenue in 2024 [1]. - The company operates three main business segments: performance and show services, Impression Cultural Tourism Town business, and tea hotel business [1]. Group 2: Financial Projections and Use of Proceeds - Assuming a mid-point offering price of HKD 3.79 per share, the company estimates a net proceeds of approximately HKD 110 million from the global offering after deducting underwriting commissions and other estimated expenses [2]. - The intended use of the net proceeds includes: - Approximately 23% for upgrading the flagship performance "Impression Da Hong Pao" [2]. - About 28.6% for further developing the Impression Jianzhou Food Theme Street and the Impression Cultural Tourism Town, including enhancements to the surrounding landscape [2]. - Around 20% for acquiring another quality cultural tourism performance project [2]. - Approximately 11% for brand image enhancement and business influence promotion [2]. - About 7.4% for upgrading the ticket management system and software [2]. - Approximately 10% for working capital and other general corporate purposes [2]. Group 3: Revenue Performance - The company's total revenue for the years ending December 31 for 2022, 2023, and 2024, as well as for the six months ending June 30, 2024, and 2025, were approximately RMB 63 million, RMB 144 million, RMB 137 million, RMB 51.5 million, and RMB 55.9 million, respectively [3].