This week (February 16th to February 22nd), two companies submitted their listing applications to the Hong Kong Stock Exchange. No companies passed the hearing, conducted an initial public offering, or were listed during this period.
On February 16, Shandong Xinde Technology Co., Ltd. submitted its listing application to the Main Board of the Hong Kong Stock Exchange, with ICBC International and Zhongtai International acting as joint sponsors.
According to the prospectus, the company is primarily engaged in the research, development, production, and sales of a full range of animal health products and complementary offerings. Based on data from CIC Consulting, the company ranks ninth among domestic manufacturers in China’s animal health market by revenue in 2024 and is among the top three in the Chinese poultry veterinary biologics market.
For the nine months ended September 30 in 2023, 2024, and 2025, the company’s revenues were approximately RMB 985 million, RMB 982 million, and RMB 877 million, respectively. Profits amounted to RMB 34.763 million, RMB 28.118 million, and RMB 55.671 million, respectively.
On February 20, Hangzhou Lvyun Software Co., Ltd. submitted its listing application to the Main Board of the Hong Kong Stock Exchange, with CICC serving as the exclusive sponsor.
The prospectus shows that Lvyun Software is a leading provider of digital services for China’s hospitality industry. By sales revenue and the number of rooms covered, Lvyun Software was the largest PMS supplier in China’s hospitality digitalization sector in 2024, holding market shares of 16.8% and 16.3%, respectively.
For the nine months ended September 30 in 2023, 2024, and 2025, the company’s revenues were approximately RMB 337 million, RMB 327 million, and RMB 225 million, respectively. Profits amounted to RMB 73.851 million, RMB 68.968 million, and RMB 34.571 million, respectively.
Editor/Jeffy










