From October 23 to October 28, Minglue Technology-W (02718) proposed a global sale of 7.219 million Class A shares and obtained a subscription of 59 million US dollars from Cornerstone

According to the Zhitong Finance App, Minglue Technology-W (02718) will be offering shares from October 23, 2025 to October 28, 2025. It plans to sell 7.219 million Class A shares globally, of which the Hong Kong public sale accounts for 10%, international sales account for 90%, and 15% over-allotment rights. The offer price is HK$141.00 per share offered. Each lot is 40 shares. The shares are expected to be traded on the Hong Kong Stock Exchange at 9:00 a.m. on November 3, 2025 (Monday).

The Group is a leading data intelligence application software company in China. It is committed to transforming corporate marketing and operation decisions and processes by integrating large models, industry-specific knowledge, and multi-modal data. According to Frost & Sullivan, in terms of total revenue in 2024, the Group is the largest supplier of data intelligence application software in China. Through innovative data intelligence application software, the Group helps customers collect, integrate, manage and analyze multi-modal data from online and offline operations, generate actionable business insights to meet business needs, and enable customers to continuously improve operational efficiency and promote innovation. As of June 30, 2025, the Group has provided services to 135 Fortune 500 companies, with customers in retail, consumer goods, food and beverage, automotive, 3C, cosmetics, and maternal and child products industries.

The Group has entered into cornerstone investment agreements with Huang River Investment Limited (Tencent Investor), Guo Minfang, Treasure-Stone Investment Group Limited, GFH Financial Group B.S.C., and QuantumPharm Limited. Based on this, Cornerstone Investors have agreed to subscribe or promote their designation under specific conditions The entity subscribes for sale shares (rounded down to the nearest complete trading unit of 40 Class A shares). Such shares can be purchased at the sale price, for a total amount not exceeding approximately US$59 million.

Based on the offering price of HK$141.00 per share, the Group estimates that the Group will receive a net proceeds of HK$902 million from the global offering (after deducting underwriting commissions and other estimated sale expenses paid and payable by the Group in connection with the global offering, and assuming that the over-allotment rights are not exercised). According to the Group's strategy, the Group intends to use the proceeds from the global sale in the following amounts for the following purposes:

(1) Approximately 35% of the net proceeds are expected to be used over the next three years to enhance the Group's technology research and development capabilities. Among them: Approximately 20% of the net proceeds are expected to be used to recruit and develop highly skilled talents, including technical architects, software engineers, algorithm experts, product managers, and test engineers. Approximately 8% of the net proceeds are expected to be used to procure R&D related infrastructure. Approximately 7% of the net proceeds are expected to be used to expand the Group's access to data sources through cooperation with companies, advertising agencies, media platforms and other professional third parties. (2) Approximately 40% of the net proceeds are expected to be used for product development to enrich the Group's product portfolio. Among them: Approximately 35% of the net proceeds are expected to be used to recruit professionals such as product managers and technical experts to develop Xiaoming's assistant, the Group's generative marketing platform, operate intelligent hardware development, and upgrade the second hand system (including the launch and development of its overseas version). Approximately 5% of the net proceeds are expected to be used for leasing or purchasing equipment and installations to support the Group's technical infrastructure for product development. (3) Approximately 15% of the net proceeds are expected to be used for marketing, brand promotion and sales team expansion. (4) Approximately 10% of the net proceeds is expected to be used for working capital and general corporate purposes.

For the year ended December 31, 2022, 2023, and 2024, the Group obtained revenue of RMB 1,269 billion, RMB 1,462 billion and RMB 1,381 billion respectively, up 15.2% year-on-year from 2022 to 2023 and 5.5% year-on-year from 2023 to 2024. For the six months ended 2024 and June 30, 2025, the Group's revenue increased from RMB 565 million to RMB 644 million, an increase of 13.9% over the previous year. During the track record period, marketing intelligence and operational intelligence contributed significantly to the Group's revenue. In 2022, 2023 and 2024, and for the six months ended 2024 and June 30, 2025, the Group obtained revenue from marketing intelligence of RMB803 million, RMB753 million, RMB731 million, RMB323 million and RMB354 million respectively, accounting for 63.3%, 51.5%, 52.9%, 57.1% and 55.0% of total revenue for the same period. In 2022, 2023 and 2024, and for the six months ended 2024 and June 30, 2025, the Group obtained revenue of RMB363 million, RMB595 million, RMB523 million, RMB230 million and RMB269 million respectively, accounting for 28.6%, 40.7%, 37.9%, 40.7% and 41.7% of total revenue for the same period.