Core Insights - Mido Group has submitted its listing application to the Hong Kong Stock Exchange, with CCB International as the sole sponsor [1] - The company is a leading and rapidly growing integrated service platform providing digital marketing and operational support for cross-border e-commerce businesses [1] - Mido Group is projected to be the fifth largest cross-border e-commerce service provider in China based on 2024 revenue [1] Revenue Composition - In the first half of 2025, Mido Group's revenue reached $5,578 million, up from $3,072 million in the same period last year, with a loss of $1,985 million [1] - The overseas marketing service is the core business line, generating $5,503.5 million, which accounts for 98.7% of total revenue [2] - The company also reported $35.2 million from overseas e-commerce operations (0.6%) and $39.2 million from digital exhibition services (0.7%) [2] Client Concentration - Mido Group has a high client concentration, with the top five clients accounting for 37.2% of revenue in the first half of 2025, down from 62.2% in 2022 [2] - The largest client contributed 10.5% of total revenue [2]