Core Viewpoint - Yangtuo Technology Inc. (referred to as "Haipai Ke") is seeking to go public on the Hong Kong Stock Exchange, having achieved significant growth in transaction volume and profitability since its inception [1][4]. Group 1: Company Overview - Haipai Ke was established in 2015 and launched its platform in the same year, achieving a transaction volume of 1 billion yuan in its second year and 10 billion yuan by the fourth year [3][4]. - The company has developed 92 proprietary brands and established partnerships with 153 manufacturers by the end of 2024 [4]. - Haipai Ke focuses on family care and nutrition products, providing a stable supply chain for enterprise clients and enhancing consumer experience [4][6]. Group 2: Financial Performance - The company reported revenues of 895 million yuan, 1.067 billion yuan, and 1.032 billion yuan for the years 2022, 2023, and 2024, respectively, with net profits of 1.012 million yuan, -56.54 million yuan, and -78.825 million yuan [7][8]. - The gross profit margins for the same years were 43.9%, 37.6%, and 32.5% [7][8]. Group 3: Market Position - In 2024, Haipai Ke became the largest trading and service platform in China's lower-tier market for family care and nutrition products, capturing a market share of 10.1% [6]. - The platform connected approximately 4,200 registered sellers and covered over 290,000 registered buyers across 31 provinces and regions in China [6]. Group 4: Investment and Financing - Haipai Ke has completed six rounds of financing, raising a total of approximately $193.59 million, with significant investments from notable firms such as Shunwei Capital and Fosun International [9][13]. - The company plans to use the proceeds from its IPO to enhance collaboration with ecosystem participants, improve technological capabilities, and seek strategic alliances and acquisitions [15].