Core Viewpoint - The company, Hai Shang Xian, is a leading provider of digital solutions and services for marine fisheries in China, and it has refiled its prospectus for an IPO on the Hong Kong Stock Exchange after a previous application expired [3][10]. Company Overview - Hai Shang Xian was established in 2015 and launched its proprietary HSX APP, which has evolved into a data-driven digital B2B marine fisheries marketplace, serving a large ecosystem including fishermen, seafood processors, and vendors [3][11]. - As of August 31, 2025, the HSX APP has over 50,000 registered users, providing access to market trends, catch data, and weather conditions [4][11]. Financial Performance - For the eight months ending August 31, 2025, Hai Shang Xian reported revenues of approximately 579 million RMB, a decrease of about 7.6% year-on-year [4][12]. - The main revenue source is the seafood B2B business, which generated 514 million RMB, accounting for 88.6% of total revenue, with frozen squid sales being the primary contributor [5][12]. Market Position - According to a CIC report, Hai Shang Xian's HSX APP is the largest digital B2B marine fisheries data platform in terms of registered users as of August 31, 2025 [4][12]. - The company has a strong market position as a leading supplier of fishing vessel monitoring systems in China, having been awarded a contract by the Fenghua government to develop a satellite-based monitoring system [13]. Strategic Initiatives - The company plans to establish AI computing facilities, expand overseas markets through offices in Southeast Asia, and enhance R&D capabilities [7].

Core Viewpoint - Ningbo Haishangxian Information Technology Co., Ltd. (referred to as Haishangxian) has submitted its application to list on the Hong Kong Stock Exchange, with SUNNY FORTUNE as the sole sponsor [1]. Company Overview - Haishangxian is a leading provider of digital solutions and services for the marine fishery industry in China, focusing on seafood and utilizing an online-to-offline sales model [3]. - The company’s headquarters is located in Fenghua District, Zhejiang Province, a marine fishery hub, and it has established operations in major fishing ports across Zhejiang, Fujian, Shandong, Liaoning, Jilin, and Guangxi [3]. Product and Service Offering - The HSX APP has evolved into a data-driven digital B2B marine fishery marketplace, with over 50,000 registered users as of August 31, 2025, providing access to market trends, catch data, and maritime weather conditions [3]. - The app serves as a portal for various services along the marine fishery supply chain, including B2B seafood commerce, marine fuel supply, cold chain logistics, and other ancillary services [3]. Government Contracts and Innovations - In 2021, the company was awarded a contract by the Fenghua government to develop the "Zheli Huiyu APP," the first government-owned satellite-based fishing vessel monitoring system [4]. - The company has expanded its monitoring system offerings to local fishermen in Fujian Province and other designated areas [4]. Financial Performance - The company reported revenues of approximately RMB 1.427 billion, RMB 914 million, RMB 1.006 billion, RMB 627 million, and RMB 579 million for the fiscal years 2022, 2023, 2024, and the first eight months of 2024 and 2025, respectively [4][6]. - Net profits for the same periods were RMB 34.12 million, RMB 35.80 million, RMB 43.87 million, RMB 3.85 million, and RMB 38.43 million [4][6].

Core Viewpoint - Ningbo Haishangxian Information Technology Co., Ltd. (referred to as Haishangxian) has submitted an application to list on the Hong Kong Stock Exchange, with SUNNY FORTUNE acting as the sole sponsor [1]. Company Overview - Haishangxian is a leading provider of digital solutions and services for the marine fishery industry in China, focusing on seafood and utilizing an online-to-offline sales model [3]. - The company’s headquarters is located in Fenghua District, Zhejiang Province, a marine fishery hub, and it has established operations in major fishing ports across Zhejiang, Fujian, Shandong, Liaoning, Jilin, and Guangxi [3]. Product and Service Offering - The HSX APP has evolved into a data-driven digital B2B marine fishery marketplace, with over 50,000 registered users as of August 31, 2025 [3]. - The app provides users with instant access to useful content, including seafood market trends, catch data, and marine weather conditions, and serves as a portal for various services along the marine fishery supply chain [3]. Government Contracts and Innovations - In 2021, the company was awarded a contract by the Fenghua government to develop the "Zheli Huiyu APP," the first government-owned satellite-based fishing vessel monitoring system [4]. - The company has expanded its monitoring system offerings to local fishermen in Fujian Province and other designated areas [4]. Financial Performance - The company reported revenues of approximately RMB 1.427 billion, RMB 914 million, RMB 1.006 billion, RMB 627 million, and RMB 579 million for the fiscal years 2022, 2023, 2024, and the first eight months of 2024 and 2025, respectively [4][6]. - Net profits for the same periods were RMB 34.12 million, RMB 35.80 million, RMB 43.87 million, RMB 3.85 million, and RMB 38.43 million [4][6].