Core Viewpoint - The article provides an overview of recent IPO activities in Hong Kong, the US, and China, highlighting key companies and their financial performance as they prepare for public listings. Group 1: Xiaoe Inc. (小鹅通) - Xiaoe Inc. submitted its prospectus to the Hong Kong Stock Exchange on August 22, 2025, aiming for a main board listing, with CICC as the sole sponsor [3] - Founded in 2015, Xiaoe Inc. specializes in private domain operations, offering a SaaS solution that integrates e-commerce, digital marketing, and CRM into a unified system [3] - According to a report by ZhiShi Consulting, Xiaoe Inc. ranks first among interactive private domain operation solution providers in China based on 2024 revenue, and is the fastest-growing among the top five private domain operation solution providers from 2022 to 2024 [4] - Xiaoe Inc.'s revenue for 2022, 2023, and 2024 was 299 million, 415 million, and 521 million yuan respectively, with a compound annual growth rate of 32.0%. In the first half of this year, revenue increased by 26.4% year-on-year to 306 million yuan [4] - The gross profit margins for Xiaoe Inc. from 2022 to 2024 were 54.3%, 72.3%, and 74.8%, with a margin of 75.5% in the first half of this year. The company achieved profitability in 2024 with an adjusted net profit of 66 million yuan and a net profit margin of 12.7% [5] Group 2: Manycore Tech Inc. (群核科技) - Manycore Tech Inc. updated its prospectus on August 22, 2025, continuing its IPO process on the Hong Kong Stock Exchange, with JPMorgan and CCB International as joint sponsors [7] - Established in 2011, Manycore Tech offers cloud-native space design software and AI solutions for indoor environments, focusing on a "space intelligence" strategy [7] - In the first half of this year, Manycore Tech's revenue reached 400 million yuan, with a gross profit margin of 82.1%, an increase of nearly 10 percentage points from 2022 [7] - The company achieved profitability in the first half of this year, with an adjusted net profit of 17.83 million yuan and a net profit margin of 4.5% [8] Group 3: Yimutian Inc. (一亩田) - Yimutian Inc. officially listed on NASDAQ under the ticker "YMT" on August 19, 2025, becoming the first Chinese agricultural internet company to go public [11] - The company issued 4.522 million American Depositary Shares (ADS) at an offering price of $4.1 per share, potentially raising up to $22 million [11] - Founded in 2011, Yimutian has evolved into a comprehensive digital agriculture enterprise, serving over 56 million users and recognized as the largest agricultural B2B platform in mainland China based on 2024 revenue [11]