近日，上海商米科技集团股份有限公司(下称：商米科技)向港交所主板提交上市申请，德意志银行、农 银国际和中信证券为其联席保荐人。 从收入结构来看，公司的收入较为依赖智能设备销售，盈利模式较为单一。2022-2024年，商米科技销 售智能设备的收入分别为33.89亿元、30.08亿元、34.38亿元，占当期总营收的比例分别为 99.5%、 98%、99.5%。 商米科技并非第一次谋求登陆资本市场。早在2021年6月，公司就曾向A股科创板递交上市申请，拟募 资10亿元。2022年3月，公司IPO终止。 据招股书披露，2019年4月商米科技完成了最后一轮投资，至此公司估值突破10亿美元，正式跻身独角 兽企业行列。作为安卓端BIoT的细分赛道龙头，商米科技本次赴港上市有何新看点? 上市前营收、利润双双回升 公开资料显示，商米科技是全球领先的商业物联网(BIoT)解决方案提供商。公司的解决方案集成了智能 硬件、软件及数据洞察，赋能众多线下商业场景实现数字化转型，提升核心商业运营流程(如支付、会 员管理、订单履约、存货控制及员工管理)效率。 从近年业绩来看，2023年公司出现营收、净利润双降，但2024年业绩表现有所回升。 ...

撰稿|多客 来源|贝多财经 6月25日，上海商米科技集团股份有限公司（下称"商米科技"）在港交所递交了上市申请，德意志银行、中信证券和农银国际为其联席保荐人。 据商米科技介绍，该公司是一家商业物联网（BIoT）解决方案提供商，致力于为商用领域提供丰富的智能loT设备及相应配套的"端、云"一体化服务，与生 态伙伴构建万物互联的商业世界，最终实现商业4.0。 天眼查App信息显示，商米科技成立于2013年12月，前身为上海我有信息科技有限公司。目前，该公司的注册资本约为3.6亿元，法定代表人为林喆，主要股 东包括林喆、上海云鑫创业投资有限公司、上海汉涛信息咨询有限公司等。 自首次推出全球首款BIoT一体机V1以来，商米科技三年内即实现全球收入突破1亿美元的成就，在全球范围内崭露头角，成为十大行业参与者中最年轻的企 业，并在此后不断丰富商米BIoT软硬件产品生态。 但智能商用物联网"行业领导者"的光环，也使得商米科技业绩不稳、客户流失的问题被成倍放大。如何在安卓端BloT解决方案的竞争深水区中开创规模与质 量协同发展的新局，将成为市场留给商米科技的首要考题。 一、聚焦BIoT，万物互联覆盖全球 所谓商业物联网（BI ...

Core Viewpoint - Shanghai Sunmi Technology Group Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with Deutsche Bank, Agricultural Bank of China International, and CITIC Securities as joint sponsors [1] Company Overview - Sunmi Technology is a leading provider of Business Internet of Things (BIoT) solutions globally, integrating smart hardware, software, and data insights to enable digital transformation in various offline business scenarios [3] - The company is currently the largest Android-based BIoT solution provider globally, holding over 10% market share based on projected 2024 revenue [3] - Sunmi Technology has deployed solutions in over 200 countries and regions, boasting the widest business network globally, with active smart devices increasing from approximately 3.2 million as of December 31, 2022, to an estimated 4.9 million by December 31, 2024 [3] Product and Service Offering - The BIoT solutions include smart devices and a BIoT PaaS platform, with each smart device supported by a professional commercial operating system (SUNMI OS) for efficient transaction and operation management [3] - The BIoT PaaS platform provides a unified software infrastructure with ready-to-use development tools for merchants and developers to efficiently develop, manage, and upgrade software applications for specific vertical scenarios [3] Market Presence - Sunmi Technology serves over 70% of the top 50 global food and beverage companies and has achieved over 70% coverage of the top 100 restaurant brands and over 60% coverage of the top 100 chain stores in China [3] Financial Performance - Revenue from the top five customers for 2022, 2023, and 2024 was approximately RMB 1.439 billion, RMB 0.885 billion, and RMB 1.421 billion, accounting for 42.3%, 28.8%, and 41.1% of total revenue, respectively [4] - The company's revenue for 2022, 2023, and 2024 was approximately RMB 3.404 billion, RMB 3.071 billion, and RMB 3.456 billion, with net profits of approximately RMB 0.160 billion, RMB 0.101 billion, and RMB 0.181 billion for the same years [4][6]