得益于长期深耕形成的对教学过程、高等教育机构和教师的需求、广泛学科、技术应用的洞察，集团以 技术和客户服务双轮驱动，不断提供先进的服务及产品并获得客户认可。于往绩记录期间，集团已交付 超过44,000款数字化教育内容产品，且集团的服务及产品涵盖教育部认可的12个学科门类及92个专业。 集团有627门数字化课程在教育部首批及第二批国家级一流本科课程认定以及职业教育国家在线精品课 程遴选中获评金课，在中国高等教育教学数字化市场按收入计的前五大参与者中排名第一。 假设发售价为每股发售股份69.18港元(即本招股章程所述发售价范围的中位数)，集团估计将自全球发售 收取的所得款项净额为约4.045亿港元。根据集团的战略，集团拟将全球发售所得款项按下文所载金额 用于下文所载用途：约36.7%预期将用于集团的研发；约31.8%预期将用于提升集团的客户服务及支持 能力；约21.5%预期将用于在选定城市设立一个或两个知识图谱开发中心，以增强集团的知识图谱构 建、生产及交付能力以及效率；及约10.0%预期将用于营运资金及一般公司用途。 集团是一家中国知名的高等教育机构教学数字化解决方案提供商，致力于高等教育机构数字化教育内 容、 ...

公司有627门数字化课程在教育部国家级一流本科课程和职业教育国家在线精品课程遴选中获评"金 课"，在市场主要参与者中排名第一。卓越睿新数码持续进行技术创新，于2020年推出了虚拟仿真开 发，并于2022年推出了知识图谱构建，以提供更具互动性、吸引力和个性化的学习体验。 卓越睿新数码致力于为高等教育机构提供教学数字化解决方案，服务范围涵盖教学、学习、练习、考 试、评估和管理等关键环节。截至目前，公司已交付超过4.4万款数字化教育内容产品，涵盖教育部认 可的12个学科门类及92个专业。 卓越睿新数码通过港交所主板上市聆讯，农银国际为独家保荐人。 根据弗若斯特沙利文的资料，按2024年收入计算，公司在中国高等教育教学数字化市场中排名第二，市 场份额为4.0%；而在中国高等教育数字化教学内容制作市场中则排名第一，市场份额为7.3%。 ...

Core Insights - The company, Wisdom Tree, has experienced significant revenue growth in recent years, but its net profit has been highly volatile, with a loss of 59.11 million in 2022, a profit of 81.42 million in 2023, and a projected loss of 88.855 million in the first half of 2024, before returning to profitability of 100 million by the end of 2024 [1][3][4] - Accounts receivable surged by 154% over two years to 340 million, representing 40% of total revenue for the year. This increase was accompanied by a deterioration in receivables quality, with impairment provisions rising by 177% to 34.1 million over three years [1][6] - The company has faced compliance issues, including bribery allegations involving sales personnel and penalties for collusion in bidding and false advertising, which pose significant obstacles to its IPO ambitions in Hong Kong [1][19][20] Financial Performance - Revenue figures for Wisdom Tree from 2022 to 2024 were 400 million, 650 million, and 850 million respectively, indicating a continuous upward trend, but the profit attributable to owners fluctuated significantly [3][4] - The gross profit margin has also shown volatility, decreasing from 51.1% in 2021 to 44.1% in 2022, then rising to 60.7% in 2023, and dropping to 46.1% in the first half of 2024, before being reported at 61.9% for the full year [4][5] Accounts Receivable and Cash Flow - Trade receivables increased from 134.958 million in 2022 to 340 million in 2024, accounting for 67.6% of current assets by April 2025, indicating a significant portion of current assets is tied up in receivables [6][8] - The net cash flow from operating activities was negative in 2022 and 2024, with figures of -48.14 million and -9.53 million respectively, reflecting cash outflows of over 46 million over two years [10][12] Compliance and Legal Issues - Wisdom Tree has been involved in multiple compliance issues, including a bribery case and collusion in bidding, which have resulted in fines and could impact its IPO process [19][20] - The company has been required to provide additional information regarding its compliance measures in light of these issues as part of its IPO application [20]