Core Insights - The company's revenue and profit fell short of expectations, with Q1-3 2025 revenue at 2.343 billion yuan (down 4.15% YoY) and net profit at 408 million yuan (up 37.10% YoY) [1] - The company plans to list in Hong Kong to enhance its global strategy and accelerate overseas business expansion [2] - Despite short-term pressures on income and profit due to strategic investments, the company maintains a "buy" rating based on expected improvements in domestic and overseas markets [3] Financial Performance - For Q3 2025, the company reported revenue of 816 million yuan (down 5.93% YoY) and net profit of 132 million yuan (up 187.18% YoY) [1] - The overall gross margin for Q3 2025 was 37.54%, the highest in four quarters, with previous quarters at 35.57%, 36.59%, and 31.90% [1] - The company experienced a negative operating cash flow of 80 million yuan in Q3 2025, primarily due to increased payments to suppliers and profit-sharing [2] Business Strategy - The increase in sales, management, and R&D expenses in Q3 2025 was attributed to new business initiatives, with growth rates of 12%, 17%, and 4% respectively [2] - The company is focusing on cross-border payment and AI applications, which require significant resource investment during their initial stages [2] - The company expects revenue growth from overseas payment terminals and improvements in domestic transaction fees and gross margins as the industry stabilizes [3] Future Outlook - The company forecasts revenues of 3.392 billion, 3.589 billion, and 3.821 billion yuan for 2025, 2026, and 2027 respectively, with net profits of 738 million, 874 million, and 922 million yuan [3] - The rapid growth of the electronic payment device market overseas and successful progress in new business areas indicate significant long-term potential [3]

这笔发行已经成功完成，并且得到了多家国际知名长线基金和多策略基金的参与，认购倍 数超数倍。 本文为IPO早知道原创 作者｜Stone Jin 微信公众号｜ipozaozhidao 据IPO早知道消息，移卡（9923.HK）于1月7日发布公告称，建议发行及配售1915万股股份，以向 外部投资者筹集资金，发展集团的海外及人工智能业务。 据 「IPO早知道」了解 ， 这 笔发行已经成功完成，并且得到了多家国际知名长线基金和多策略基 金的参与，认购倍数超数倍。 根据公告披露，此次认购款项净额约40%用于扩展集团于亚洲各业务分部的海外版图，40%用于投 资研发，包括在专有软件中使用人工智能，以加强集团商业数字化生态系统的竞争力，20%用于营 运资金及一般公司用途。 另外，移卡还通过旗下的富匙科技扩大了服务范围，共同推广数字商户解决方案， 截至目前，客户 包括星巴克、无印良品、必胜客、New Balance及Levi's、KOI、Mr.Coconut等200多个全球和区 域品牌客户，涵盖新加坡、印尼、越南及马来西亚等东南亚地区，门店数量超过20,000家。 值得注意的是，富匙科技透露即将于东南亚地区推出针对餐饮行业的AI ...

以帮助企业提升效率，精细化运营。 本文为IPO早知道原创 作者｜Stone Jin 微信公众号｜ipozaozhidao 据IPO早知道消息，富匙科技据悉即将于东南亚地区推出AI Agent行业应用，以帮助企业提升效率， 精细化运营。 公开资料显示， 富匙科技为香港上市公司移卡（9923.HK）公司所投资的企业。2024年，富匙在 东南亚地区拓展了星巴克、无印良品、必胜客、New Balance及Levi's、KOI、Mr.Coconut等200 多个全球和区域品牌客户，涵盖新加坡、印尼、越南及马来西亚等东南亚地区，门店数量超过 20,000家。 富匙取得成绩的背后离不开两点：第一，与移卡集团其他业务形成的协同效应 ，利用在国内已经验 证过的支付技术、服务经验、人工智能技术等，为亚太区的商户提供更有吸引力的商务赋能解决方案 套件。 第二，富匙非常重视本地化的SaaS产品研发及运营。 通过不断挖掘海外不同垂直行业的市场属性及 客户偏好，富匙丰富自研产品组合及提升服务效率，增强了对客户商业赋能的广度和深度，并提升了 客户的长期粘性。此次富匙推出AI Agent行业应用也是围绕海外客户的需求而展开。 本文由公众号I ...