Yisou Technology (02550.HK) recently launched its prospectus, and is expected to be listed on the Hong Kong Stock Exchange on June 7, 2024, with BOC International as the sole sponsor. Yisou Technology plans to offer a total of 14.8025 million shares globally (accounting for 4.5% of the total shares after the completion of the offering), of which 90% will be offered internationally and 10% will be offered to the public, with an additional 15% greenshoe option. The offering price per share ranges from HK$5.80 to HK$8.00, with 500 shares per lot, and the maximum fundraising amount is approximately HK$118 million. Assuming the offering price per share is HK$6.90 (the midpoint of the offering price range) and the greenshoe option is not exercised, Yisou Technology expects total listing expenses to be approximately RMB 41.8 million, including a 3.5% underwriting commission (plus a 1% discretionary bonus), Hong Kong Stock Exchange listing fees, Securities and Futures Commission transaction levies, Hong Kong Stock Exchange transaction fees, Financial Services and the Treasury Bureau transaction levies, legal and other professional fees, printing and other expenses. Yisou Technology did not introduce any cornerstone investors in this IPO. The net proceeds from Yisou Technology’s IPO will be approximately HK$56.2 million (calculated based on the midpoint of the offering price range): approximately 45.0% will be used to enhance the Group’s R&D capabilities and ensure long-term technological advantages; approximately 25.0% will be used to strengthen the Group’s position as a third-party digital reading platform; approximately 15.0% will be used to expand the Group’s digital marketing services; approximately 15.0% will be used to expand online game distribution services in overseas markets. For this IPO of Yisou Technology, BOC International serves as its sole sponsor, global coordinator and joint global coordinator; Guotai Junan serves as its global coordinator and joint global coordinator. Other underwriters include BOCOM International, Everbright Securities International, Great Securities International, Guosen Securities, ICBC International, Livermore Securities, Shenwan Hongyuan, SPDB International, Tiger Brokers, Yuexiu Securities and Zhongtai International. According to the prospectus, in the post-listing shareholding structure of Yisou Technology, Mr. Wang Xi holds 32.49% of the shares through Growth Value; Shenzhen Yijiujiu, an employee incentive platform, holds 10.51% of the shares through Yisou United; Mr. Zhao Lei holds 2.51% of the shares through Full Ocean; Mr. Lü Jin holds 1.26% of the shares through Sunbird International; Mr. Chen Jun holds 0.63% of the shares through Skymobi; Kunyu Suzhou holds 7.13% of the shares; Estate Success holds 6.36% of the shares; Shanghai Shengda holds 5.98% of the shares; SoftBank holds 4.85% through SBCVC Fund III and 3.02% through Bluesky Holding respectively; Jinhe Capital holds 4.76% of the shares; Qianhai Hairun holds 3.42% of the shares; Houju No. 3 holds 3.21% of the shares. Houju No. 1 holds 0.12% of the shares; Ventech China II SICAR holds 2.91% of the shares; Golden Hair Changye Co., Ltd. holds 2.73% of the shares; Yuanzhi Venture Capital holds 1.03% of the shares; Shenzhen Lihe Partnership Enterprise holds 0.92% of the shares; Lihe Chuangke (002243.SZ) holds 0.86% of the shares through Shenzhen Lihe; Nanrun Wanxin Investment holds 0.68% of the shares; Mr. Ding Ding holds 0.14% of the shares. Other public shareholders hold 4.50% of the shares. Founded in 2005, Yisou Technology is committed to applying various "data-human connection" scenarios based on artificial intelligence recommendation technology. The company applies its proprietary intelligent recommendation engine, Yisou Recommendation Engine, to collect, analyze, match or predict the needs of users or clients, and provides multiple services including digital reading, digital marketing, online games and other digital contents. According to Analysys, in China’s digital reading market, Yisou Novel App ranked fifth in terms of average monthly active users in 2023. In 2023, Yisou Novel App ranked fourth in China’s digital reading market in terms of average daily usage time per user. https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0530/2024053000010_c.pdf © 2021 Meishun (Hong Kong) Management Consulting Co., Ltd. and Meishun (Hangzhou) Management Consulting Co., Ltd. All rights reserved. Meishun Meiyin (Hangzhou) Consulting Management Co., Ltd. is the domestic subsidiary of Hong Kong Meishun Management Consulting Company under the same actual controller. Both companies are under the same actual controller, managed by the same Chinese management team, and comply with the laws of Hong Kong and mainland China.