近日，一家数字打印解决方案供应商——汉森软件股份有限公司向港交所主板提交上市申请书，国金证 券(香港)有限公司、中信证券为联席保荐人。 这是该公司首次冲刺港股资本市场，其曾于2023年10月A股上市指导，但于2025年7月终止指导协议。 在2025年7月的股权转让中，每股成本约为50元人民币，对应公司的上市前估值约为31.55亿元人民币。 这一估值水平反映了前期投资者对其在数字打印赛道龙头地位的认可，不过本次上市港股投资者会 否"买账"，则还需从其基本面来进行综合分析。 营收表现稳健 费用增长侵蚀利润 公开资料显示，汉森软件是一家全链条数字打印解决方案供应商，主要提供打印控制系统、打印基础设 施及打印创新服务，公司的一体化平台融合全球领先的打印控制系统、先进的硬件基础设施及RIIN银 河SaaS，这一创新模式彻底改变打印解决方案的交付与规模化拓展方式。凭借这一独特定位，公司得以 捕捉即时打印全价值链的机遇，涵盖工业应用与创意商业等多个领域。 过往业绩来看，公司营收、利润曾呈现稳步增长趋势。2022-2024年间，公司收入分别为2.46亿元、3.32 亿元和4.39亿元(人民币，下同)，复合增速33.6%;同期 ...

汉森软件提供包括打印控制系统、打印基础设施和打印创新服务在内的全链条数字打印解决方案。公司 的一体化平台融合了打印控制系统、硬件基础设施和RIIN银河SaaS，旨在改变打印解决方案的交付和 规模化拓展方式。 为进一步增强产品能力，汉森软件于2025年8月收购了上海色如丹的控股权，该公司专注于色料与墨水 业务。 汉森软件已向港交所主板提交上市申请，国金证券(香港)和中信证券为联席保荐人。公司在全球独立打 印控制系统供应商中排名第一，2024年收入市场份额为5.6%。 ...

Core Viewpoint - Shenzhen Hansen Software Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, with Guotai Junan Securities (Hong Kong) and CITIC Securities as joint sponsors [1] Company Overview - Hansen Software is a full-chain digital printing solution provider, primarily offering printing control systems, infrastructure, and innovative printing services. According to Frost & Sullivan, the company ranks first among independent printing control system suppliers globally by revenue in 2024 [4] - The company has established itself as a cornerstone of the digital printing ecosystem, leveraging its unique advantages to capture structural growth opportunities in the on-demand printing market [4] - Hansen Software is one of the few mainstream digital printing solution providers capable of offering fully integrated, full-chain solutions across the entire value chain of on-demand printing [4] Market Position - In 2024, Hansen Software holds a market share of 5.6% in the global printing control system market, ranking first among independent suppliers by revenue [4] - The company's integrated platform combines leading printing control systems, advanced hardware infrastructure, and RIIN Galaxy SaaS, fundamentally transforming the delivery and scalability of printing solutions [4] Strategic Developments - To strengthen its position in a changing market, Hansen Software acquired a controlling stake in Shanghai Colorful Dan in August 2025, a company specializing in color materials and inks. This strategic acquisition enhances the company's control over core consumables in digital printing [5] - The integration is expected to bolster the company's supply chain, expand customization capabilities, and support scalable solutions, helping partners stand out in the rapidly evolving printing market [5] Financial Performance - Hansen Software's revenue for the fiscal years 2022, 2023, and 2024, as well as for the eight months ending August 31, 2024, and 2025, are approximately RMB 246.05 million, RMB 332.06 million, RMB 438.96 million, RMB 280.89 million, and RMB 325.35 million respectively [6] - The gross profit for the same periods is approximately RMB 128.64 million, RMB 188.82 million, RMB 243.88 million, RMB 157.86 million, and RMB 181.49 million respectively [6]