Core Viewpoint - Xiaoe Inc. (小鹅通) has submitted its listing application to the Hong Kong Stock Exchange, with CICC as its sole sponsor, and has attracted investments from notable institutions including Tencent [1] Company Overview - Xiaoe Inc. is a leading product-driven SaaS solution provider in the private domain operation sector, enabling enterprises to build, operate, and expand their decentralized e-commerce infrastructure [4] - The company's cloud-based one-stop solution integrates e-commerce, digital marketing, and CRM into a unified system, streamlining the entire lifecycle from traffic conversion to customer relationship management and transaction facilitation [4] Market Position - According to a report by Zhaoshang Consulting, Xiaoe Inc. ranks first among interactive private domain operation solution providers in China based on revenue for 2024, and is among the top three private domain operation solution providers [5] - The company is noted as the fastest-growing among the top five private domain operation solution providers during the reporting period [5] Technology and Infrastructure - Xiaoe Inc.'s intelligent resource scheduling system is built on public cloud infrastructure, capable of supporting peak traffic of up to 270,000 requests per second, ensuring high availability through a distributed architecture [5] - The platform has obtained ISO27001 and Level 3 certification for information security in China, and has integrated AI into its products to enhance operational efficiency, reduce costs, and improve user experience [5] Market Growth - The market size for private domain operation solutions in China is projected to grow from RMB 11.9 billion in 2024 to RMB 25.8 billion by 2029, with a compound annual growth rate (CAGR) of 16.7% [5] - Specifically, the interactive private domain operation solution market is expected to expand from RMB 5.2 billion in 2024 to RMB 13.8 billion by 2029, with an accelerated CAGR of 21.6% [5] Financial Performance - For the fiscal years ending June 30, the company's revenues were approximately RMB 299 million, RMB 415 million, RMB 521 million, and RMB 306 million for 2022, 2023, 2024, and the first half of 2025, respectively [6][8] - The company reported losses of approximately RMB 33.99 million, RMB 37.05 million, RMB 15.08 million, and RMB 5.82 million for the same periods [6][8]