New stock news | Copper Master attended a hearing at the Hong Kong Stock Exchange, focusing on the development of copper cultural and creative products.

According to the disclosure on March 10 by the Hong Kong Stock Exchange, Hangzhou Copper Master Cultural Innovation (Group) Co., Ltd. (hereinafter referred to as "Copper Master") held a hearing for listing on the main board of the Hong Kong Stock Exchange, with Citi Investment as the exclusive sponsor. According to the prospectus, since its establishment, Copper Master has been focusing on combining traditional craftsmanship with modern design and usage scenarios to develop copper cultural and creative products. According to a Frost & Sullivan report, as of the year ended December 31, 2024, Copper Master ranked first in the total revenue of the Chinese copper cultural and creative products market, with a market share of 35.0%. The Chinese copper cultural and creative products market accounted for approximately 6.3% of the Chinese metal cultural and creative products market in 2024, and is now a more specialized sub-field of the wider cultural and creative products market in China, with Copper Master holding around 0.2% market share in this sub-field in 2024. Copper Master has extended its material portfolio to include gold, silver, and plastic to reach a broader audience and explore new creative spaces. The company's copper, gold, and silver products are all made of pure metal. Some copper cultural and creative products SKUs are coated with a layer of pure gold or silver on the surface to enhance their aesthetics and value. Copper Master's products are divided into four categories based on materials and craftsmanship: (i) copper cultural and creative products; (ii) plastic dolls and toys; (iii) silver cultural and creative products; and (iv) gold cultural and creative products. With expertise in copper craftsmanship, as of the end of 2024, Copper Master has gradually expanded its product categories to include gold cultural and creative products. These products are marketed under the subsidiary brand "XiJiang Gold Shop" and are made of 999 pure gold. In addition to gold products, certain SKUs under the "XiJiang Gold Shop" brand also have a pure silver version available. Copper Master has established a comprehensive IP matrix, including self-developed IP and licensed IP partnerships, supported by a strong system of design patents, copyrights, and proprietary technology. Copper Master continues to enrich its intellectual property portfolio through self-developed and licensed IP, introducing new SKUs each year to complement the evolving product pipeline. As of the ends of 2022, 2023, and 2024, as well as the end of 2024 and 2025, the company has respectively launched 407, 350, 528, 342, and 327 SKUs based on self-developed IP. During the same periods, the company has respectively launched 176, 164, 179, 87, and 77 SKUs based on licensed IP. The number of new SKUs is based on the new SKUs sold in each period. In the previous fiscal years/periods, the revenue from the top five IP of the company accounted for 20.5%, 20.1%, 23.9%, and 23.4% of the total revenue ended as of December 31, 2022, 2023, 2024, and September 30, 2025, respectively. Copper Master has cultivated a wide and diversified IP matrix to ensure that it does not rely heavily on any single IP. Financially, in the fiscal years of 2022, 2023, 2024, and the nine months ending on September 30, 2025, the revenue of Copper Master was approximately RMB 503 million, RMB 506 million, RMB 571 million, and RMB 448 million, respectively. During the same periods, the total profits and comprehensive income were approximately RMB 56.938 million, RMB 44.131 million, RMB 78.982 million, and RMB 41.553 million, respectively.