① Which companies should be focused on as Nanhua Futures and several other companies submit their applications in bulk? ② What are the highlights of Boreton Technology's business as it passes the listing hearing?
The weekly new stock News for Hong Kong stocks is as follows:
As of this report, this week (April 14 to April 20), eight companies have submitted applications, one company has passed the hearing, and two new stocks have been listed.
First, looking at the submissions, this week eight companies submitted applications:
1) On April 14, Card Game Limited submitted its application to the Hong Kong Stock Exchange again, with Morgan Stanley, China International Capital Corporation and JPMorgan continuing to act as joint sponsors.
According to the prospectus, $Kayou (810558.HK)$ As one of China's leading pan-entertainment product companies, as of the end of last year, Card Game had a total of 70 IPs, including well-known IPs such as Ultraman, My Little Pony, Ye Luo Li, Douluo Dalu animation, Naruto, and Detective Conan. According to Zhaosheng Consulting, based on the total transaction volume of commodities in 2024, Card Game ranks first in the pan-entertainment product industry and pan-entertainment toy industry, with market shares of 13.3% and 21.5% respectively, and also ranks first in the collectible card field of the pan-entertainment toy industry, with a market share of 71.1%.
In terms of finance, in 2022 and 2023, the revenue of Kuaiyou was 4.131 billion yuan and 2.662 billion yuan respectively, and the revenue is expected to exceed 10 billion yuan in 2024, reaching 10.057 billion yuan. During the same period, adjusted net income (not measured according to international financial reporting standards) increased significantly from 0.934 billion yuan in 2023 to 4.466 billion yuan in 2024.
On April 15, Guangzhou Yujian Xiaomian Catering Co., Ltd. submitted a listing application to the Main Board of the Hong Kong Stock Exchange, with BOCOM INTL as its sole sponsor.
The prospectus shows that Yujian Xiaomian $Guangzhou Xiao Noodles Catering Management Co Ltd (810726.HK)$ is a leading and fast-growing operator of modern Chinese noodle restaurants in China. As of April 5, 2025, the company's restaurant network includes 374 restaurants in 22 cities in mainland China and six restaurants in the Hong Kong Special Administrative Region. In terms of total commodity transaction volume for 2024, the company is the largest operator of Sichuan-Chongqing flavor noodle restaurants in China and the fourth largest operator of Chinese noodle restaurants.
In terms of finance, for the fiscal years 2022, 2023, and 2024, Yujian Xiaomian reported revenues of approximately 0.418 billion yuan, 0.8 billion yuan, and 1.154 billion yuan respectively; profits for the year were approximately -35.973 million yuan, 45.914 million yuan, and 60.7 million yuan.
On April 15, Dipu Technology Co., Ltd. submitted its listing application to the Main Board of the Hong Kong Stock Exchange, with CITIC SEC, CMBC CAPITAL, GUOTAI JUNAN I, China Merchants International, and BOCOM INTL as its joint sponsors.
The prospectus shows that, $Deepexi Technology Co., Ltd. (810728.HK)$ Focuses on providing cutting-edge AI solutions for enterprises, helping them efficiently integrate data, make decisions, and operate at scale. According to Frost & Sullivan, Dipu Technology ranks fifth in China's enterprise-grade large model AI application solution market by revenue in 2024, with a market share of 4.2%, expected to reach 4.4% by 2025.
In terms of finance, in the fiscal years 2022, 2023, and 2024, Dipu Technology achieved revenues of approximately 0.1 billion yuan, 0.129 billion yuan, and 0.243 billion yuan respectively; during the same periods, losses were approximately 0.655 billion yuan, 0.503 billion yuan, and 1.255 billion yuan respectively.
On April 15, Shenzhen Shunyou Cross-Border Logistics Co., Ltd. submitted an application for listing on the Main Board of the Hong Kong Stock Exchange, with China Securities Co.,Ltd. as its sole sponsor.
According to the prospectus, $Shenzhen Sunyou Cross-border Logistics Co., Ltd.* (810727.HK)$ Is an experienced provider of cross-border e-commerce logistics services, empowering cross-border e-commerce platforms and sellers through its foundation and cross-border logistics network in mainland China. According to Frost & Sullivan, based on revenue projections for 2024, the company ranks ninth in China’s B2C export e-commerce direct shipping logistics service market. According to the same source, based on the transaction volume of direct shipping logistics services set for special cargo in 2024, the company ranks sixth in mainland China.
In terms of finance, in the fiscal years 2022, 2023, and 2024, Shunyou Logistics achieved revenues of approximately 1.184 billion yuan, 1.506 billion yuan, and 1.522 billion yuan respectively; profits during the same periods were approximately 31.875 million yuan, 73.465 million yuan, and 43.875 million yuan respectively.
On April 15, Hainan Drinda New Energy Technology submitted an application to the Hong Kong Stock Exchange's Main Board, with Huatai International, BOCOM INTL, and Deutsche Bank as its joint sponsors. This is the company's second application, having previously applied for a listing on the Main Board of the Hong Kong Stock Exchange on February 6, 2024.
The prospectus shows that, $Hainan Drinda New Energy Technology (002865.SZ)$ It is a leading professional manufacturer of photovoltaic Battery. It continues to focus on the research, development, production, and sales of efficient photovoltaic Battery. According to Frost & Sullivan, based on shipment volume in 2024, the company's N-type TOPCon Battery has a global market share of approximately 24.7% among professional manufacturers, ranking first, while the company's overall photovoltaic Battery global market share reaches approximately 17.9%, ranking second.
In terms of finance, for the years 2022, 2023, and 2024, Hainan Drinda New Energy Technology's revenues were approximately 11.086 billion yuan, 18.611 billion yuan, and 9.924 billion yuan respectively; during the same period, annual profits were approximately 0.821 billion yuan, 0.816 billion yuan, and -0.591 billion yuan.
On April 16, Liuliu Orchard Group Co., Ltd. submitted an application to the Hong Kong Stock Exchange's Main Board, with CITIC SEC and Guoyuan International as its joint sponsors.
According to the prospectus, $Liuliu Orchard Group Co., Ltd. (810729.HK)$ It is a leading company in China's fruit snack industry and a leader in plum products. It is also dedicated to promoting the green plum culture and continuously innovating to offer natural and healthy snack options. According to Frost & Sullivan, in 2024, the company ranks first in China's plum product industry (by retail sales), with a market share of 7.0%. Based on the same source, from 2021 to 2024, the company ranked first for four consecutive years in the green plum fruit snack industry and the black plum fruit snack industry by retail sales.
In terms of finance, in 2022, 2023, and 2024, Liuliu Orchard's revenue was approximately 1.174 billion yuan, 1.322 billion yuan, and 1.616 billion yuan respectively; net profit and other comprehensive income during the same period were approximately 68.432 million yuan, 99.231 million yuan, and 0.148 billion yuan.
On April 17, Nanhua Futures (603093.SH) submitted its application to the Hong Kong Stock Exchange Main Board, with CITIC SEC as its sole sponsor.
The prospectus discloses that $Nanhua Futures Co., Ltd. (810731.HK)$ It is a financial service provider focused on Futures and derivatives, headquartered in China. According to a Frost & Sullivan report, in China, based on total revenue in 2023, the company ranks 8th among all futures companies and 1st among all non-financial institution-related futures companies.
In terms of finance, for the years 2022, 2023, and 2024, Nanhua Futures' operating revenue is approximately 6.823 billion yuan, 6.247 billion yuan, and 5.712 billion yuan respectively; during the same period, annual profits are approximately 0.246 billion yuan, 0.403 billion yuan, and 0.458 billion yuan.
On April 17, Tibet Zhihui Mining Co., Ltd. submitted its application to the Hong Kong Stock Exchange Main Board, with Sinolink (Hong Kong) and Mai Shi Capital as its co-sponsors.
According to the prospectus, $XIZANG ZHIHUI MINING CO., LTD.* (810730.HK)$ is a mining company focused on the exploration, mining, production, and sales of zinc, lead, and copper in Tibet, China. According to data from Shanghai Nonferrous Network, from 2022 to 2024, based on the average annual production of zinc concentrate, lead concentrate, and copper concentrate, the company ranks second, third, and fifth in Tibet respectively.
Financially, in 2022, 2023, and 2024, Zhihui Mining's revenues were approximately 0.482 billion yuan, 0.546 billion yuan, and 0.301 billion yuan respectively; during the same period, the total annual profit and comprehensive income attributable to owners of the company was about 0.118 billion yuan, 0.155 billion yuan, and 55.854 million yuan.
This week, another company passed the hearing:
On April 15, Boleton Technology Co., Ltd. passed the listing hearing on the Main Board of the Hong Kong Stock Exchange, with China International Capital Corporation and BOCOM INTL as its joint sponsors.
According to the prospectus, $Breton Technology (810593.HK)$ It is a provider of electric construction machinery headquartered in China. The company designs and develops electric construction machinery with autonomous operational capabilities and commercializes them, as well as providing intelligent operation services. According to data from Frost & Sullivan, in 2024, the company ranked third and seventh among all New energy Fund wide-body dump truck and loader manufacturers in China, with market shares of 18.3% and 3.8%, respectively, based on shipment volume.
In terms of finance, in 2022, 2023, and 2024, the company's revenues were approximately RMB 0.36 billion, RMB 0.464 billion, and RMB 0.635 billion, respectively. During the same period, net losses were approximately RMB 0.178 billion, RMB 0.229 billion, and RMB 0.275 billion, respectively.
Additionally, two new stocks will be listed this week.
On April 14 (Monday), a power Battery manufacturer $ZENERGY (03677.HK)$ was listed on the Hong Kong Stock Exchange, initially rising by 1.45%, and then remaining mostly flat in the following days. By the close on April 17, the stock had cumulatively risen by 1.57% compared to the issue price in its first week.
According to Zhengli New Energy, the company supplies power Batteries to multiple domestic automakers, including SAIC-GM, Wuling, FAW Hongqi, GAC Trumpchi, LEAPMOTOR, etc., and also supplies to Toyota China through a joint venture with Toyota. However, it is worth noting that starting in 2023, affected by the decline in average raw material prices, the average selling price of Zhengli New Energy's products has continued to decrease.
On April 15 (Tuesday), ADC Innovative Drugs company $DUALITYBIO-B (09606.HK)$ Officially listed on the Hong Kong stock market, with an initial surge of 116.70%, currently ranking first in the Hong Kong IPO first-day gainers list for 2025, with a total transaction exceeding 2 billion Hong Kong dollars throughout the day. In the following trading days, the company's stock price fluctuated at a high level, and as of the closing on April 17, it has risen more than double the issue price.
It is reported that Yingen Biologics has introduced more than a dozen cornerstone investors in this IPO issuance, with a total subscription amounting to 65 million USD. So far, the company has established several external licensing and cooperation agreements with partners such as BioNTech, BEIGENE, Adcendo, GSK, Avenzo, etc., with a total transaction value exceeding 6 billion USD.
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