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<IPO>Shanghai Fuiou Payment Service Files for HK Listing, after Terminating A-shr Listing Consultation for 2 Times
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Shanghai Fuiou Payment Service, a digital payment technology platform, submitted an application for listing on the Main Board of the Hong Kong Stock Exchange, with CITIC Securities and Shenwan Hongyuan Hong Kong as joint sponsors.

According to the preliminary prospectus, Shanghai Fuiou Payment Service mainly provides corporate customers with omni-channel payment and business solutions in different business scenarios. For the year ended December 2023, Shanghai Fuiou Payment Service recorded revenue of RMB1.506 billion, a 31.8% year-on-year increase, and net profit added 30.2% to RMB93.165 million.

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Shanghai Fuiou Payment Service said that in order to explore the opportunity of establishing a capital market platform in China's A-share market, it had previously sought counseling for the proposed listing application of A-shares in Mainland China, but both counseling had been terminated in June 2021 and February 2024. The company had then turned to seeking a listing in Hong Kong instead.
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