New Stock News | Minglue Technology-W Attends Hearing in Hong Kong Stock Exchange, Company is China's largest supplier of data intelligence application software.

According to the disclosure by the Hong Kong Stock Exchange on October 17th, Minglue Technology-W (formerly known as Wise Holding Limited -W) has conducted a listing hearing on the main board of the Hong Kong Stock Exchange, with CICC as its exclusive sponsor. According to Frost & Sullivan data, based on the total revenue for 2024, the company is the largest data intelligence application software supplier in China. The prospectus shows that with the iterative progress of big data and artificial intelligence technology, especially the rapid development of general big models, various industries and enterprises are increasingly focusing on business digitization and intelligence. The deep integration of data intelligence and business decision-making has become a future trend. According to the Frost & Sullivan report, the growth prospects of China's data intelligence application software market are broad, with the revenue expected to increase from RMB 32.7 billion in 2024 to RMB 67.5 billion in 2029, with a compound annual growth rate of 15.6%. It is reported that Minglue Technology is a leading data intelligence application software company in China. Leveraging the company's core technology and industry insights, the company provides data intelligence products and solutions, covering marketing and operational intelligence, both online and offline. The company is committed to using big models, industry-specific knowledge, and multimodal data to transform enterprise marketing and operational strategic design and decision-making processes. The company's main customers include: (i) enterprises mainly engaged in consumer goods, food and beverage, automotive and 3C industries, operating online and offline businesses, aiming to reach customers, establish or strengthen brand image, achieve sales conversion, and achieve business growth through the use of the company's comprehensive marketing intelligence products in different combinations; and (ii) offline retail and restaurant chain operators focusing on creating future-oriented stores, utilizing intelligent operations to optimize business processes, enhance customer experience, and maintain long-term growth. For the years 2022, 2023, and 2024, as well as the six-month period ending June 30, 2024 and 2025, revenues from the company's largest customers accounted for 11.9%, 24.4%, 19.3%, 20.0%, and 18.9% of the company's annual revenue for each respective year. Financially, the gross profit margins for the years 2022, 2023, and 2024, as well as the six-month period ending June 30, 2024 and 2025, were 53.2%, 50.1%, 51.6%, 50.6%, and 55.9%, respectively. Research and development expenses for the years 2022, 2023, and 2024, as well as the six-month period ending June 30, 2024 and 2025, were RMB 751 million, RMB 481 million, RMB 353 million, RMB 174 million, and RMB 150 million, respectively. Net profits were recorded at RMB 1.638 billion, RMB 318 million, and RMB 7.949 million for the years 2022, 2023, and 2024, respectively. However, net losses of RMB 98.66 million and RMB 204 million were recorded for the six-month periods ending June 30, 2024 and 2025, respectively. Net profits were mainly driven by fair value changes related to preferred shares, warrants, and convertible notes of the company in 2022, 2023, and 2024, amounting to RMB 2.8154 billion, RMB 585.5 million, and RMB 186 million, respectively.