New Stock News | Daheng Science and Technology Hong Kong Stock IPO Prospectus Invalid

Da Hang Ke Gong (Shenzhen) Co., Ltd. (hereinafter referred to as "Da Hang Ke Gong") submitted its Hong Kong IPO prospectus on January 21, which was valid for 6 months and expired on July 21. When submitting the application, China Securities Co., Ltd. was the exclusive sponsor. The prospectus shows that Da Hang Ke Gong is a globally leading and rapidly expanding folding bicycle company. The Da Hang brand is one of the most representative brands in the folding bicycle industry, founded by Dr. Han Dewei in 1982, aiming to create sustainable urban mobility solutions through innovative engineering technology. With over 40 years of development, the Da Hang brand is renowned for its superb technology, innovative creation, precision craftsmanship, pursuit of excellence, and meticulous product quality. According to data from Insight Consulting, the company ranks first in the folding bicycle industry in mainland China and globally based on retail sales volume in 2023, with market shares of 21.1% and 5.6% respectively. The company's product lineup, anchored by popular models like the P8, along with newly developed models, caters to a wide range of consumer needs, from urban commuters to adventure seekers and even competitive riders. Over the course of its history, the company's product portfolio has expanded from folding bicycles to include other types such as road bikes, mountain bikes, children's bikes, and electric-assist bikes, reflecting the company's commitment to innovation and responding to market demands. As of September 30, 2024, the company offers over 70 bicycle models.