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The company serves suppliers of intelligent learning equipment in China, focusing on designing, developing, manufacturing and selling intelligent learning equipment embedded in digital teaching assistance resources for primary and secondary school students, their parents and school teachers in China. According to the Frost Sullivan report, it ranked second in terms of total retail market capitalization in China in 2021 and fifth in terms of equipment shipments. At present, it has its own production and assembly facilities in Zhongshan City, Guangdong Province, with a total construction area of about 30700 square meters. The company's main product types include: a. Personal tablet, specially designed for junior and high school students aged 6 to 18, and equipped with digital teaching resources (simultaneous preview, review and learning materials). The total number of tablets shipped in 2021 is 459000, with a retail price of about 2000 yuan to 5000 yuan, accounting for 87.6% of the income. Smart classroom solutions usually refer to intelligent educational devices equipped with intelligent classroom management functions, which, on the one hand, provide an interactive learning environment for school teachers and students, and on the other hand, allow parents to monitor their children's learning. The total number of smart classroom solutions shipped in 2021 is about 20,000 units, with a retail price of about 1998 to 4898 yuan, accounting for 2.9% of the income. c. Wearable products, that is, children's smartwatches. In addition to traditional functions (such as GPS, video phone, health monitoring and emergency assistance), there is also a pre-installed educational function program to help learn vocabulary in both Chinese and English. In 2021, a total of 188500 units were shipped, with a retail price of about 390 yuan to 1000 yuan, accounting for 6.6% of revenue. d. Smart point reading pen, accounting for 2.2% of the income. The company's revenue increased from 670 million yuan in 2019 to 810 million yuan in 2021. Net profit increased from 69.4 million yuan in 2019 to 82.1 million yuan in 2021. After listing, the company is expected to have a market capitalization of about HK $2.76 billion, corresponding to about 27 times of 21-year PE. At present, the company's revenue has maintained steady growth, but due to its small scale and fierce competition in China's education hardware industry, the company has limited room for future growth, so it is recommended to apply carefully.