Core Viewpoint - Guangzhou Wenshi Information Technology Co., Ltd. (referred to as "Wenshi BOOX") has officially submitted its listing application to the Hong Kong Stock Exchange, with CITIC Securities International acting as the sole sponsor for the issuance [1] Group 1: Company Overview - Wenshi BOOX was established in 2008 and focuses on creating a comprehensive toolset covering "listening, remembering, reading, and writing" through a synergistic model of software and hardware [1] - The company provides consumer-grade eye-protecting reading and writing smart terminals, including the BOOX series e-readers and smart ink tablets, along with its self-developed open operating system BOOX OS and related vertical applications [1] - According to a report by Frost & Sullivan, Wenshi BOOX ranks as the second largest knowledge-focused productivity tool brand globally and the largest in China based on retail revenue projected for 2024 [1] Group 2: Business Development - Wenshi BOOX continues to solidify its core scene layout, forming a complete product system of "hardware + system + software" [3] - As of the end of Q3 2025, the self-developed BOOX OS operating system has nearly one million monthly active users [3] - The product matrix is continuously iterating, with four new products launched in October 2025, including the P6 Pro series supporting 5G SIM cards, the Note Air5 C which can connect to external keyboards, and the first color electronic ink screen product Palma 2 Pro, catering to differentiated market demands both domestically and internationally [3] Group 3: Financial Performance - For the fiscal year ending December 31, 2023, the total revenue is projected to be 803.58 million RMB, with a year-on-year growth of 26.8% [4] - The revenue from overseas markets accounted for 56.2%, 59.4%, and 59.5% of total revenue for the years 2023, 2024, and the first nine months of 2025, respectively, indicating a continuous increase [4] - The U.S. market alone contributes 18%-19% of the revenue, becoming one of the core overseas markets [4] Group 4: Industry Context - The electronic paper tablet sector is entering a golden development period, with a projected year-on-year sales growth of 49.1% in China for 2024 [4] - Wenshi BOOX is positioned to capitalize on industry benefits, with online sales in Q1 2025 showing a year-on-year growth of 23%, indicating strong growth momentum [4] Group 5: Fundraising Purpose - The funds raised from the listing will primarily be used for five major purposes: enhancing technology research and product iteration capabilities; strengthening sales and marketing systems to further expand global market share; expanding the hardware and software product matrix and integrating strategic resources in the industry chain; upgrading production facilities and optimizing supply chain layout; and supplementing working capital for general corporate purposes [5]