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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 provide retail digitalization solutions to retailers in the local retail industry. Local retail refers to the business of selling merchandise to consumers located in close proximity through offline channels or online channels. We primarily provide solutions in China and have successfully expanded our businesses to other countries and regions in Asia, comprising Hong Kong SAR, Cambodia, Singapore, Malaysia, Macau SAR, Indonesia, the Philippines and Brunei. According to Frost & Sullivan, we were the largest retail digitalization solution provider in China by revenue in 2023, with a market share of 6.5% and the third largest retail digitalization solution provider in Asia, with a market share of 4.2%. Retail digitalization solution providers refer to companies that offer digital products and services designed to enhance and digitalize the operations of local retailers. We started our business in retail digitalization in collaboration with Wumei Group, a leading retailer in China, which was our largest customer during the Track Record Period. We have a close business relationship and have engaged in substantial business transactions with Wumei Group, one of our Related Parties. Dr. Zhang Wenzhong, our founder, senior advisor and our Controlling Shareholder, is the controlling shareholder of Wumei Technology Group, Inc., the holding company of Wumei Group. We implemented our cloud solutions in Wumei Group’s nationwide store network and our functionalities through their complex operation. Today, we have developed retail digitalization solutions for customers of various sizes and formats that encompass local retail operations, from procurement and supply chain management, store and headquarters management, to marketing and omni-channel sales. Our experience with Wumei Group has inspired us to deliver many popular modules that are applicable to other retail formats from chained supermarkets, warehouse supermarkets, department stores to convenience stores, specialty retailers and retailers with new retail formats, such as membership stores and discount stores. We also serve other major retailers, such as Chongqing Department Store Group (one of our Related Parties), Yinchuan Xinhua Group (one of our Related Parties and controlled by Dr. Zhang), and Maidelong Entities (one of our Related Parties and controlled by Dr. Zhang), as well as well-known brands such as Wellcome, Mannings, Guardian, Giant, and 7-Eleven (Hong Kong), which operate under the DFI Retail Group. We now cover all major retail formats, such as convenience stores, department stores, supermarkets and specialty retail, helping our expanding customer base meet ever-evolving market challenges and provide quality services to consumers. As a testament to our success, we served 236, 436, 533 and 444 customers for the years ended December 31, 2021, 2022, 2023 and six months ended June 30, 2024, respectively. We were loss making during our Track Record Period, mainly attributable to expenses incurred in line with our rapid growth and development. We have been narrowing the adjusted losses and believe our up front investment in our growth sets a strong foundation for our future business development and path to profitability. Source: Dmall (02586) Prospectus (IPO Date : 2024/11/28)
Listing Market	MAIN
Industry	Application Software
Background	Others
Major Business Area	Hong Kong

Corporate Information

Substantial Shareholders	ZHANG Wenzhong (56.67%) Vigorous Link Group Limited (8.46%)
Directors	ZHANG Feng (Co-Founder and President and Executive Director) Curtis Alan FERGUSON (Chairman and Non-Executive Director) CHEN Zhiyu (Non-Executive Director) SUN Yuhan (Non-Executive Director) WANG Zhenghao (Non-Executive Director) CAI Lin (Independent Non-Executive Director) HOU Yang (Independent Non-Executive Director) LI Wei (Independent Non-Executive Director) MAO Jiye (Independent Non-Executive Director)
Company Secretary	AU Wing Sze WANG Yi
Principal Bankers	Industrial Bank Co., Ltd Bank of Beijing
Solicitors	Haiwen & Partners Skadden, Arps, Slate, Meagher & Flom and affiliates Harney Westwood & Riegels Grandall Law Firm
Auditors	KPMG
Registered Office	Unit 717-718, Level 7, Core F Cyberport 3, 100 Cyberport Road, Hong Kong
Share Registrars	Tricor Investor Services Ltd. [Tel: (852) 2980-1333]
Share Registrars Tel No	(852) 2980-1333
Internet Address	http://www.dmall.com
Email Address	[email protected]
Tel No	(86 400) 6993-000
Fax No

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