Core Viewpoint - Shenzhen Xipuni Precision Technology Co., Ltd. is set to launch an IPO from September 19 to September 24, 2025, with a target net fundraising of up to HKD 310 million [1][5] Company Overview - Shenzhen Xipuni primarily engages in the design, R&D, production, and sales of precious metal watches and gold jewelry, providing ODM services to well-known domestic brands and operating its own brands "HIPINE Xipuni" and "GOLDBEAR" [3] - The company has established long-term stable supply relationships with notable clients such as Lao Feng Xiang, China Jewelry, and Zhou Dazheng [3] Market Position - Shenzhen Xipuni holds a significant leadership position in the Chinese precious metal watch market, with its brand HIPINE being the largest gold watch brand and the largest pure gold watch brand in China, capturing market shares of 27.08% and 28.96% respectively in 2024 [3] Financial Performance - The company's net profits for the years 2022, 2023, 2024, and the first five months of 2025 were RMB 24.5 million, RMB 52.1 million, RMB 49.3 million, and RMB 42.8 million respectively, indicating that the net profit in 2023 doubled compared to 2022 [5] IPO Utilization Plan - The expected net proceeds from the IPO will be allocated to four main areas: enhancing production capacity, establishing a R&D center in Putian, expanding and optimizing the sales network, and general working capital [5]