Core Viewpoint - The company, Wuhan Aimesen Life Science Technology Co., Ltd. (referred to as "Aimesen"), has submitted an IPO application to the Hong Kong Stock Exchange, but its revenue remains below 10 million yuan, heavily reliant on related party transactions for income [1][6]. Financial Performance - Aimesen's revenue for 2023, 2024, and the first half of 2025 is projected to be 6.233 million yuan, 7.238 million yuan, and 6.513 million yuan respectively, with a year-on-year growth of 103% in the first half of 2025, yet still under 10 million yuan overall [1]. - The company reported net losses of 67.922 million yuan, 38.63 million yuan, and 13.906 million yuan during the same periods, indicating a narrowing loss but still a high loss rate, with an operating loss rate of 328.7% in 2024 [1]. Customer Base - The largest customer for Aimesen in both 2023 and 2024 is Wuhan Aino Medical Laboratory, fully owned by the company's executive director and controlling shareholder, Zhang Lianglu, which accounted for 44.5% of total revenue in 2023 and increased to 52.1% in 2024 [2]. - Aimesen's second major customer is the listed company Capbio, which is also a shareholder, contributing 8.9% of revenue in 2023 and 9.3% in 2024 [5]. - Overall, over 60% of Aimesen's revenue in 2023 and 2024 comes from related parties or shareholder-backed institutions [6].