New Stock News | Leo submits application to Hong Kong Stock Exchange, aiming for A+H listing as a leader in digital marketing and smart pumps and systems

According to the Zhitong Finance APP, on September 29, Leo (002131.SZ), a company listed on the Shenzhen Stock Exchange with core businesses in "AI-driven digital marketing and smart pumps and systems," submitted its application to the Hong Kong Stock Exchange, with Huatai International and China Galaxy International as sponsors. Leo adopts a dual-core business model of "AI digital marketing + smart pumps and systems," where the advantages of the two sectors complement each other and synergistically empower, forming a unique industrial barrier that provides dual support for the company's steady development. After more than a decade of deep cultivation, Leo's AI digital marketing business is projected to achieve the largest revenue scale in China's digital marketing market by 2024, making it a leading AI-driven digital marketing group in the country with full-chain service capabilities. It has topped the digital marketing company rankings by the Chinese Academy of Sciences' "Internet Weekly" for several years and has been certified as a "Leading Digital Advertising Enterprise" by the Shanghai Advertising Association. In the digital advertising agency sector, it holds a market share of 8.72% based on 2024 data, ranking first in the industry. As the cornerstone business of the group, smart pumps and systems are projected to rank second in China's pump and system industry and thirteenth globally based on 2024 revenue; in terms of export value for 2024, it is the top provider in the domestic civil pump sector, with products covering over 160 countries and regions and deep cooperation with more than 300 distributors. Core clients include globally renowned equipment brands and leading state-owned enterprises in infrastructure, with a strong customer resource barrier. Total revenues for 2022-2024 are expected to reach 20.268 billion yuan, 20.471 billion yuan, and 21.171 billion yuan, maintaining a stable growth trend; gross profit margins remain in the range of 8.4%-8.9%, with profits basically stable. As of June 30, 2025, the current ratio is 2.3 times, and the debt-to-asset ratio is 14.2%, indicating a healthy financial structure and strong risk resistance. The cash flow contributions from the two core businesses are stable, with the pump and system business achieving a cash flow collection rate of over 90% due to its "payment before delivery" partial settlement model and long-term customer relationships; the digital marketing business effectively controls accounts receivable turnover days (93 days in 2024) through settlement optimization with leading media platforms, showcasing outstanding overall working capital management capabilities