Core Viewpoint - Shenzhen Xipuni Precision Technology Co., Ltd. ("Xipuni" or "the Company") has announced its plan to list on the Hong Kong Stock Exchange, aiming to raise up to HKD 314 million through the issuance of 10,600,000 shares priced between HKD 27.0 and HKD 29.6 per share [1] Group 1: Company Overview - Xipuni is recognized as the largest gold watch brand in China by GMV and the largest brand of gold-inlaid precious metal watches, holding market shares of 27.08% and 28.96% respectively [2] - The Company has seen revenue growth from RMB 324 million in FY2022 to RMB 445 million in FY2023, with a projected increase to RMB 460 million in FY2024 [2] - Xipuni's flagship brand, HIPINE, has been awarded the title of "Shenzhen Well-Known Brand" since 2022, reflecting its strong market reputation [3][7] Group 2: Business Model and Partnerships - Xipuni has established long-term partnerships with renowned jewelry brands such as Lao Feng Xiang and China Jewelry, enhancing its market presence [4] - The Company operates a comprehensive business and sales system, including over 3,000 offline retail points and self-operated online stores, allowing for rapid market penetration [4] - Xipuni has begun international expansion, starting sales in Malaysia and planning further growth in the Middle East [4] Group 3: Innovation and Product Development - The Company has developed proprietary technologies, including a supermolecular gold hardening technique, enabling the mass production of gold watches [5] - Xipuni has collaborated with Huawei to launch smart gold watches, becoming the first brand to integrate Huawei's smart technology into its products [5] - The smart precious metal watch market is projected to grow at a compound annual growth rate of approximately 70% from 2024 to 2029, driven by increasing consumer demand for smart features [5] Group 4: Future Outlook - Xipuni aims to lead the gold watch industry by integrating traditional craftsmanship with innovative technology, capitalizing on the growing appreciation for gold culture and its enduring value [6]