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	Name▼ / Code▼	Industry	Offer Price	Lot Size	Entry Fee	Closing Date	Grey Market Date▼	Listing Date▲
	REFIRE 02570.HK	Electrical Components & Equipment	145-165	20	3,333	2024/12/03	2024/12/05	2024/12/06
	Dmall 02586.HK	Application Software	30.21	100	N/A	2024/12/03	2024/12/05	2024/12/06

Summary

We are a smart learning device service provider in China, focusing on the design, development, manufacturing and selling of smart learning devices embedded with digital educational resources for China’s primary and secondary students, their parents and school teachers. We have become a technology-powered smart learning device service provider with established education product and service offerings in China. According to the Frost & Sullivan Report, we ranked second among China’s smart learning device service providers in terms of total retailing market value and ranked fifth among China’s smart learning device service providers in terms of total device shipment in 2021. Our Readboy brand was recognized as a reputable technology-powered education brand in China. We have accumulated over 5.5 million registered users as of the Latest Practicable Date, and by May 2022, our average MAU amounted to over 1.4 million in the past 12 months. We design, develop, manufacture and market smart learning devices, including personal student tablets, smart classroom solutions, wearable products and a number of smart accessories. Our smart learning devices are embedded with digital educational resources, mainly synchronous lesson preparation, review and learning materials, which are supplemental to the in-school education for primary and secondary school students in China. During the Track Record Period, a substantial majority of our revenue was derived from the sales of our smart learning devices. Currently, the end users can only access our device-level embedded digital educational resources through our smart learning devices and we do not separately charge additional fees for such embedded digital educational resources. Moreover, in that we have accumulated our brand recognition for digital educational resources, since 2019, we have established cooperative arrangements with third parties, usually online content distribution platforms or content streaming device systems with education-focused channels, under which we licensed certain digital educational resources to such third parties, on a non-exclusive basis, to display on their platforms and share service fees charged from their users. We endeavor to leverage the advanced technologies to create a flexible, efficient, effective, interactive and personalized learning experience. In addition, we have established a nationwide offline distribution network with deep penetration. Our products are generally sold to our distributors, who then onsell our products to end users, such as students or their parents, in the cases of personal student tablets and wearables products, and schools, in the case of smart classroom solutions. Our distributors not only market and sell our products, but also deliver customer services, especially to places where educational resources are typically inadequate. Face-to-face communications provide better experience for users to understand our products and an effective way to convey our philosophy of education, which facilitates us in effectively acquiring end users and maintaining a large, loyal and expanding user base. Our end users may get familiar with our products at offline points of sales through first-hand experience with the assistance from offline store staff. In addition, offline presence in local markets enables our brand and products and services to gain trust from end users. Such offline points of sales help us to communicate with and deliver after-sales and operational services to end users in a more effective manner, which we believe will generate word-of-mouth referral and spread of our brand name and reputation, thereby further expanding user base. As of the Latest Practicable Date, we contracted 129 offline distributors who controlled a total of 4,608 points of sales located in 344 cities covering 31 provinces and autonomous administrative regions, including municipalities, across China. We strive to establish a nationwide distribution network with deep penetration, especially in third- and lower-tier cities in China. The number of the points of sales located in third- and lower-tier cities accounted for approximately 68.6%, 69.7% and 70.9% of total points of sales in 2019, 2020 and 2021, respectively. We also distribute our smart learning devices empowered by our digital educational resources through self-operated online channels as well as online distributors. Besides our efforts in strengthening our nationwide offline distribution network, we also introduce and implement new and innovative marketing measures, such as social media operations on WeChat, Weibo and TikTok and online live streaming sales, to achieve the expansion of our end user base, which in turn will improve the traffic of our offline stores. We expect such online-to-offline model will not only attract potential individual end users to promote our online sales but also will increase the sales at offline stores. Source: Readboy Education (02385) Prospectus (IPO Date : 2022/06/29)
Listing Market	MAIN
Industry	Education Services
Background	Others
Major Business Area	N/A

Corporate Information

Substantial Shareholders	Chen Zhiyong (34.20%) Qin Shuguang (28.12%) Equiom Fiduciary Services (Hong Kong) Limited (7.14%) Liu Zhilan (5.76%)
Directors	Chen Zhiyong (Founder and Non-Executive Director) Qin Shuguang (Chairman and Chief Executive Officer and Executive Director) Liu Zhilan (Executive Director) Shen Jianfei (Non-Executive Director) Kong Fanhua (Independent Non-Executive Director) Li Renfa (Independent Non-Executive Director) Li Manfang (Independent Non-Executive Director)
Company Secretary	Huang Qingzhong Lam Kang Chi
Principal Bankers	Bank of Communications Co., Ltd.
Solicitors	Jingtian & Gongcheng LLP
Auditors	Ernst & Young
Registered Office	40th Floor, Dah Sing Financial Centre, 248 Queen’s Road East, Wanchai, Hong Kong
Share Registrars	Computershare Hong Kong Investor Services Ltd. [Tel: (852) 2862-8628]
Share Registrars Tel No	(852) 2862-8628
Internet Address	http://www.readboy.com/
Email Address	[email protected]
Tel No	(86 760) 2337-8068
Fax No

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