Group 1 - The core point of the article is that Xiamen Ruiyun Lian Innovation Technology Co., Ltd. has submitted an application for an initial public offering (IPO) to list its H-shares on the Hong Kong Stock Exchange [2] - Ruiyun Lian, established in 2012, is a leading global provider of intelligent cloud intercom solutions, with its registered office located in Xiamen Torch High-tech Zone Software Park Innovation Building [4] - The company's brand Akuvox integrates various advanced technologies, including network communication, intercom, security, artificial intelligence, cloud computing, and mobile internet, establishing a strong R&D capability and unique advantages in the industry [6] Group 2 - Ruiyun Lian's products serve over 110 countries and regions, providing comprehensive solutions for residential communities, business offices, elderly care, and public alarm systems, meeting the quality requirements of the mid-to-high-end markets in Europe and the United States [6] - As of September 30, 2025, the cumulative global sales of Ruiyun Lian's smart community solutions are expected to reach approximately 2 million units, with cloud services covering over 530,000 households, ranking second globally in household coverage [8] - The company's revenue for the years 2023, 2024, and the first nine months of 2025 is reported to be RMB 274 million, RMB 347 million, and RMB 277 million respectively, with net profits of RMB 38.175 million, RMB 53.438 million, and RMB 44.573 million, indicating a steady growth trend [10] Group 3 - Before the IPO, the major shareholders of Ruiyun Lian include Chuangzhi Times with a 56.87% stake and Fujian listed company StarNet Ruijie with a 37.92% stake, making them the top two shareholders of the company [12]