Gelonghui, Feb. 6 | Hong Kong Stock Exchange documents show that Xiamen Jihong Technology Co., Ltd. submitted a listing application to the main board of the Hong Kong Stock Exchange on February 6, with CICC and CMB International acting as co-sponsors. Jihong Co., Ltd. is a leading two-wheel drive enterprise with cross-border social e-commerce business and paper FMCG packaging solutions business based on technology, innovation and digital intelligence. Since the company was listed on the Shenzhen Stock Exchange in 2016, it has successfully transformed and expanded its business scope, while also achieving significant achievements in business and finance. According to Insight Consulting, in terms of revenue generated from social media e-commerce business in Asia in 2022, Jihong Co., Ltd. is a leading cross-border social e-commerce company with a strategic focus on the Asian market, ranked second among B2C export e-commerce companies in China, with a market share of 2.2%. Also, in terms of revenue, it ranked first among China's paper FMCG sales and packaging solution companies in 2022, with a market share of 1.1%. In terms of financial data, in 2021, 2022 and the nine months ended September 30, 2023, the company's total revenue was 5.18 billion yuan, 5.38 billion yuan and 4.92 billion yuan respectively; profit for the same period was $208.9 million, 171.6 million yuan and $302.3 million, respectively. Among them, the cross-border social e-commerce business showed outstanding performance. From 2018 to 2022, the business grew rapidly at a compound annual growth rate of 35.0%. In 2021, 2022, and the nine months ending September 30, 2023, the business revenue accounted for 54.7%, 57.8% and 63.1% of total revenue, respectively, with gross margins of 58.0%, 59.1% and 64.3%, respectively.