Core Viewpoint - HanShuo Technology is transforming the retail industry in China through its innovative electronic price tag solutions, which enhance operational efficiency and customer experience in supermarkets [2][5][21]. Company Overview - HanShuo Technology, founded in 2012, specializes in providing digital solutions centered around electronic price tags, integrating hardware and SaaS cloud platforms [2][3]. - The company has grown to become the leading electronic price tag provider in China and the third globally, serving over 400 clients across more than 50 countries [3][20]. Business Model and Growth - The electronic price tags replace traditional paper tags, allowing for real-time updates and online payment options, significantly reducing labor and material costs for retailers [5][9]. - HanShuo's electronic price tag system can update information for 3 million tags in 80 minutes, saving supermarkets substantial operational costs [9]. - The company has established partnerships with major retailers like Yonghui and Auchan, contributing to its rapid revenue growth [15][16]. Financial Performance - HanShuo's revenue has shown strong growth, with figures of 16.13 billion RMB in 2021, 28.62 billion RMB in 2022, and 37.75 billion RMB in 2023, alongside a net profit of 6.78 billion RMB in 2023 [15]. - The company’s gross profit margin has consistently exceeded industry averages, with a margin of 37.25% in the first half of 2024 [15][16]. Market Position - HanShuo holds a 62% market share in China's electronic price tag market and approximately 28% globally, ranking among the top three in revenue within the industry [20]. - The company has a strong international presence, with significant revenue derived from overseas markets, accounting for over 90% of its income in recent years [15][16]. Research and Development - HanShuo has invested heavily in R&D, with a cumulative investment of 5.12 billion RMB from 2021 to 2024, representing 4.94% of its total revenue during that period [20]. - The introduction of the Nebular series has driven substantial sales growth, with a compound annual growth rate of 487.21% from 2020 to 2023 [18][20]. Future Plans - The company plans to raise 11.8 billion RMB through its IPO, with funds allocated for digital solution industrialization, AIoT R&D, and working capital [21].