Core Viewpoint - Xiamen Keta Communications Technology Co., Ltd. (Keta) is making its third attempt to go public on the Hong Kong Stock Exchange, aiming to strengthen its position in the smart parking industry after previous unsuccessful attempts in 2017 [1][4]. Company Overview - Keta was founded in 2006 by Sun Longxi, a technology expert from Changchun, Jilin, and has grown to become a leader in the smart parking sector [1]. - The company has a significant shareholding structure, with Sun Longxi and his associates holding 53.65% of the shares, while Tencent is the largest external shareholder with 8.46% [1]. Market Position - Keta ranks second in China's smart parking space operation industry, with a market share of 3.3% as of 2024, according to a report by Zhaoshang Consulting [2]. - The company operates in over 60 countries and regions, supporting more than 68,000 parking lots and 300 million vehicles [2]. Financial Performance - Keta's revenue for 2022 was RMB 649.23 million, with a projected increase to RMB 738.02 million in 2023 and RMB 799.51 million in 2024 [3]. - The gross profit margin improved from 43.1% in 2022 to 46.4% in 2023, although the net profit growth has shown signs of slowing down [3]. Future Prospects - The company is actively developing an online parking space rental platform to enhance resource utilization in the parking space operation industry [3]. - A successful IPO would provide Keta with additional funding to further solidify its leading position in the smart parking sector [4].