New Stock News | Wanda Tong Delivers Form to Hong Kong Stock Exchange. The company provides information system integration solutions and services for smart city construction.

According to the disclosure on the Hong Kong Stock Exchange on April 3, Qingdao Wenda Tong Technology Co., Ltd. (referred to as "Wenda Tong") has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with Shenwan Hongyuan International and Hua Bo Capital as joint sponsors. According to the prospectus, Wenda Tong was established in 2001, focusing on providing information system integration solutions for smart city construction, as well as property and community life services. As a service provider of information system integration solutions, Wenda Tong specializes in tailor-made information system design and specific business systems for customers, hardware and equipment procurement, installation and implementation, and system debugging. At the same time, Wenda Tong applies the developed solutions to property and community life services, providing high-quality property services and community life services to customers in various communities and neighborhoods. Revenue is generated mainly from four business lines: information system integration solution services; property services; community life services; and others. The company's clients mainly include property owners, property developers, government departments, industrial parks, and enterprises. In the fiscal years 2021, 2022, 2023, and 2024, the company's revenue from the top five clients was RMB 201.5 million, RMB 429.9 million, RMB 500.2 million, and RMB 373.4 million respectively, accounting for 31.1%, 43.9%, 44.8%, and 33.6% of total revenue for each year. The top five clients of the company each year are located in China, and except for the Ruoyuan Group and its affiliates, all other clients are independent third parties. In terms of potential risks, the company experienced cash outflows from operating activities in the fiscal years 2022, 2023, and 2024. If the company continues to experience cash outflows from operating activities in the future, its liquidity and financial situation may be significantly adversely affected. In addition, the company may face credit risks due to business arrangements with customers. If customers severely delay payment or default on payment, or if the company fails to issue invoices and recover contract assets, its financial condition and operating performance may be significantly adversely affected. Financially, Wenda Tong's revenue in 2021, 2022, 2023, and 2024 were RMB 647 million, RMB 980 million, RMB 1.115 billion, and RMB 1.114 billion respectively; gross profit for the same period was RMB 141 million, RMB 210 million, RMB 211 million, and RMB 222 million respectively; net profit and comprehensive income for the year. The total amounts were RMB 53.238 million, RMB 81.758 million, RMB 65.576 million, and RMB 62.655 million respectively.