上市捷报丨沙利文助力迈越科技股份有限公司成功赴港上市(2501.HK)

Maiyue Technology Co., Ltd. (Stock Code:2501.HK) on2023year10month11The company successfully logged onto the Hong Kong Capital Market Main Board on the day of publication. The company is a comprehensive enterprise located in Guangxi.ITSolution service providers mainly focus on providing customized comprehensive solutions to the education sector by leveraging advanced technologies such as big data, Internet of Things, cloud computing, and artificial intelligence.ITSolution services to drive the development of smart campuses. Frost & SullivanFrost & Sullivan,Frost & Sullivan, referred to below as 'Frost & Sullivan', provides exclusive industry advisory services for the listing of Midea Technology Co., Ltd. We hereby extend our warmest congratulations on its successful listing.

Maiyue Technology Co., Ltd. (hereinafter referred to as 'Maiyue Technology') was established on2023year10month11The company successfully went public on the 1st, with plans for global distribution1.25100 million shares, Hong Kong, China1,25010,000 shares, international offering1.125100 million shares, and others15%Excess rights issue. Issue price per share1.18HK$, with the net amount of raised funds being approximately9,090HK$10,000.

During the Hong Kong listing process, Frost & Sullivan mainly undertook the following tasks: helping the issuer accurately and objectively understand its positioning in the target market, using objective market data to discover, support, and highlight the issuer's competitive advantages, assisting the issuer, investment banks, and other intermediaries in completing relevant parts of the prospectus (such as the overview, competitive advantages and strategy, industry overview, business, and other important sections), facilitating communication between the issuer and the Exchange and investors, helping investors quickly understand the market ecosystem and competitive landscape, and assisting the issuer in completing feedback on various industry-related issues from the Exchange.

Investment highlights

The company is a comprehensive enterprise with a long history of operation in the education and government informatization markets of Guangxi.ITThe solution provider has established a solid relationship with the customer;

The company has the capability to provide customized solutions that meet the unique needs of clients.ITSolution services;

The company has enhanced its product portfolio with improved R&D capabilities, to complement the comprehensiveITSolution services;

The company has an experienced and professional management team that has repeatedly achieved excellent results in business operations.

According to the Frost & Sullivan report, the company:

Guangxi's local education, which is one of the few in the region to have its own product portfolioITOne of the solution service providers;

Guangxi Education boasts a successful track record in independently developing productsITThe solution service industry is not common, and by leveraging this unique advantage, the company further develops new products to complement its comprehensive offerings.ITSolution services leverage existing and upcoming R&D centers to strengthen this competitive advantage, enabling us to offer customers a wider variety of self-developed products;

Comprehensive in the Guangxi education informatization marketITThe market scale of the solution is expected to be at2022Year-end2027Year-on-year compound annual growth rate8.3%Growth, and2027RMB reached64100 million yuan;

press2022For annual revenue calculation, the company's market share in the Guangxi education informatization market and government informatization market is1.3%and0.08%.

Market scale of Guangxi education informatization

China's education informatization market is a highly policy-driven market.2012In [year], the Ministry of Education issued the 'Ten-Year Development Plan for Educational Informatization (2011 - 2020(2018), promoting educational informatization as a national strategy. Following this policy, the Ministry of Education2018In 2019, the 'Education Informatization'2.0Action Plan》, to further strengthen the development of China's education informatization market. With strong support from the government andITWith the increase in public expenditure on education, the total revenue of the Guangxi education informatization market is expected to continue growing over the next five years.2027RMB will reach205yuan,2022Year-end2027The compound annual growth rate for the year reached6.9%.

Hardware device sales are the largest market segment in Guangxi's education informatization market.2022In the year, hardware equipment sales revenue accounted for35.4%Comprehensive in the Guangxi education informatization marketITThe market scale of solution services has grown from2017Renminbi in [year]25RMB 100 million increased to2022Renminbi per year43yuan, with a compound annual growth rate of11.5%With the strong demand in the education industry and strong policy support in the education informatization market, the comprehensive situation in Guangxi's education informatization marketITThe market scale of solution services is expected to be2027RMB reached64yuan,2022Year-end2027The compound annual growth rate for the year reached8.3%.

The competitive landscape of the education informatization market in Guangxi

The education informatization market in Guangxi is highly fragmented.2022About1,000Enterprises. Yu2022Top 5 Education in Previous YearsITThe total revenue generated by Solution Service businesses was RMB567.6One million yuan, with a total market share of3.9%.

Comprehensive analysis of the Guangxi education informatization marketITAlthough the solution service market is fragmented, it is more concentrated than the national market.2022In Guangxi, there are less than500Most are local companies.2022In [year], the top five comprehensiveITComprehensive solution provider servicesITTotal revenue from Solution Services was RMB399.2One million yuan, with a total market share of9.3%.

Cost Analysis of China's Educational Informatization Market

Procurement of hardware equipment and software accounts for the largest proportion of the total cost in the education informatization market. Since hardware equipment and software vary with product type and service model, there is no standard price statistic for procurement costs. Labor costs in educationITThe main component of solution service provider costs. With the continuous growth of the macroeconomy, the average annual salary of employees in information transmission, computing services, and software industries has risen from2016Renminbi in [year]122,478Increase by Yuan2021Renminbi in [year]189,135Yuan, compound annual growth rate9.1%.

Overview of the Government Informatization Market in Guangxi

governmentITA solution refers to the application of modern information technology to improve government efficiency and service quality in operational management, supervision, service delivery, and decision-making processes. GovernmentITThe solution integrates various functional departments and existing resources through detection, analysis, and intelligent response, thereby improving the efficiency of government operations and management. It creates a convenient and efficient government platform for enterprises and the public.

As the government places increasing emphasis on applications in government affairsITSolutions: In the past few years, the government informatization market in China has shown stable growth. Looking ahead, the Chinese government expects to continue promoting the digitization of government governance, and the government informatization market is expected to grow steadily in the foreseeable future.

The informatization market in Guangxi Province starts from2017Renminbi in [year]61RMB billion increased to2022Renminbi in [year]107yuan, with a compound annual growth rate of11.8%press2022In terms of revenue, the government informatization market in Guangxi accounts for nearly2.5%This growth is mainly driven by2018Driven by the government support policies released annually. The People's Government of Guangxi has issued the 'Three-Year Action Plan for Promoting the Construction of a Digital Government'. With the support of the government,2017Year-end2022The annual market size is growing rapidly. Looking ahead, the market size is expected to reach RMB141yuan,2022Year-end2027The compound annual growth rate for the year is5.6%.

Key market drivers of the government informatization market in Guangxi

Positive government policies: The Chinese government has issued a series of favorable policies and regulations to support the development of the government informatization market. Representative policies include2018In [year], the "Guiding Opinions on Accelerating the Construction of a National Integrated Online Government Service Platform" and2018The 'Action Plan for Promoting the Development of Big Data' in [year] has formulated a development plan for the government information market. The Guangxi People's Government issued the 'Three-Year Action Plan for Promoting Digital Government Construction', instructing the government to accelerate the construction of e-government data centers, etc. Favorable government policies have always been the main market driver for the development of China's government information market.

Accelerate the urbanization process: With macroeconomic growth and accelerating urbanization, the urbanization rate in Guangxi is also expected to2022Year-end2027Continued growth throughout the year, as2027Annual achievement63.7%The acceleration of urbanization has brought about a prominent issue of an increase in the urban population. The large influx of people has put forward higher demands on the government's operational efficiency. In this context, the governmentITThe demand for solution services has increased, driving the growth of the government informatization market in China.

Widely applicable scenarios: Energy storage batteries can be widely applied in power system links such as power generation, transmission and distribution, and electricity consumption. The rapid growth in the construction of renewable energy power systems has laid the foundation for the deployment of large-scale energy storage systems. With the acceleration of energy transformation, the energy storage battery market will embrace new opportunities.

Rapid technological development: Rapid technological development has always been one of the main driving forces behind the development of China's government informatization market. Emerging and continuously evolving information technologies provide various solutions for the construction of smart governments. Among these, governments are using a new set of information technologies such as the Internet, cloud computing, and big data to improve their office operations and regulatory capabilities. Moreover, an increasing number of sub-industries are adopting information technologies to enhance operational efficiency.

View the prospectus

Frost & Sullivan has rich research experience in the communications, media and technology industries, assisting well-known enterprises in successfully listing on the capital market. Successful listings include Yidian Cloud. （2416.HK) , Pleasure Musician 2486.HK), Liemeng Technology2405.HK),Ohmyhome（NASDAQ:OMH), Jinshan Cloud 3896.HK), Haojing Technology2440.HK), How I Wish for the Cloud ( 6696.HK ), Xuanwu Cloud Technology2392.HK), Huitongda9878.HK), innovative wisdom2121.HK), Shangtang Technology0020.HK), Qinhuai DataNASDAQ:CD-ROM), Mingyuan Cloud0909.HK), Genesis Group1849.HK), WeCom Group2013.HK), Wankala Union (1762.HK), Yaxin Technology1675.HK), Hongya Holdings1723.HKAurora MovingNASDAQ:JG), Jingguan Holdings8606.HK), Qiyi Technology1739.HK), WeCom Finance (2003.HK), Huifu Tianxia(1806.HK),Atlinks（8043.HK),Zioncom（8287.HK),ISP Global（8487.HK),Vobile（3738.HK), Aibo Technology2708.HK),iClick（NASDAQ:ICLK), Shengye Capital6069.HK), Anling International8410.HK), Anke Systems8353.HK), Junmeng International8062.HK), Feisida8342.HK),Future Data（8229.HK) and Asiy Backup8290.HK) etc.