Copper Master debuts on the Hong Kong stock exchange! Futu assists in the company's IPO

On March 31, 2026, Hangzhou Copper Master Cultural Creativity (Group) Co., Ltd. (referred to as 'Copper Master', stock code: $TONGSHIFU (00664.HK)$ ) officially listed on the Main Board of the Hong Kong Stock Exchange, marking a new chapter in the company’s capitalization development.

In this global offering, Futu Securities International (Hong Kong) Co., Ltd. served as the joint lead manager and joint bookrunners, leveraging its technology trading platform advantages to help the company attract a diverse range of global investors, laying a solid foundation for subsequent market liquidity and brand internationalization.

According to the prospectus, Tong Shifu's global offering introduced CICT International as a cornerstone investor, with an investment amount of 30 million yuan. As of the latest practicable date of the prospectus, Yu Guang, the founder of Tong Shifu, is the largest shareholder, holding 26.3%; Lei Jun, the founder of Xiaomi, through Shunwei Capital and Xiaomi, respectively holds 13.4% and 9.6%, making them the second and third largest shareholders. $XIAOMI-W (01810.HK)$ .

According to the Frost & Sullivan report, by revenue in 2024, Tong Shifu ranked first in China's copper cultural and creative craft products market with a 35.0% market share. As a leading enterprise deeply engaged in the traditional culture creative field, the company focuses on the research, production, and sales of copper cultural and creative products, while expanding into diversified material categories such as gold and silver, building a diversified brand matrix covering the main brand 'Tong Shifu' and sub-brands 'Xijiang Gold Shop' and 'Tai Copper.' As of September 30, 2025, the company has cumulatively owned 1,776 artistic copyrights, 171 design patents, 12 utility model patents, 9 software copyrights, and 3 invention patents.

Financial data shows that the company's performance maintained a steady growth trend. From 2022 to 2024, revenue reached 503 million yuan, 506 million yuan, and 571 million yuan, respectively; net profits were 56.938 million yuan, 44.131 million yuan, and 78.982 million yuan, respectively. The core product, copper cultural and creative products, continued to contribute the main income, achieving revenue of 551 million yuan in 2024, accounting for 96.6% of total revenue that year.

Regarding industry prospects, benefiting from the rise of 'Guochao' consumption, increased cultural confidence, and growth in per capita disposable income, China's cultural and creative industry market shows a favorable growth trend. It is expected that from 2024 to 2029, the market size of China's cultural and creative industry will grow from 6.4 trillion yuan to 8.8 trillion yuan, with a compound annual growth rate of 6.5%; as a leader in the niche market, the company is expected to benefit from the industry development dividend.

Regarding the use of proceeds, Tong Shifu plans to strategically allocate the net proceeds from this IPO as follows:

- 38%: Invest in product development and design capabilities

- 24%: Increase production capacity and fulfillment flexibility

- 24%: Strengthen sales channels and marketing capabilities

- 4%: Upgrade digital and information infrastructure

- 10%: Working capital and general corporate purposes

As a leading digital financial technology company, Futu, supported by an investor ecosystem of over 29.18 million and a comprehensive corporate service system, is able to provide companies with end-to-end services throughout the pre-IPO, IPO, and post-IPO phases. These include a one-stop ESOP option management solution, Hong Kong and US stock IPO distribution, investor relations (IR) and public relations (PR), financial public relations services, international placement, secondary trading services, and other core services.

As of Q4 2025, more than half of the top ten companies in terms of Hong Kong IPO fundraising amounts have collaborated with Futu. Nearly half of the Hong Kong IPO projects in Q4 were in cooperation with Futu. The total subscription amount for Hong Kong IPOs on the Futu platform reached 3.5 trillion Hong Kong dollars in Q4, firmly ranking first in the market. Futu’s capabilities in US IPOs have attracted attention, as all retail clients who subscribed to popular new stocks such as Bullish, Figure, and Gemini were successfully allocated shares.

As of Q4 2025, Futu's corporate services have reached 1,161 clients, providing IPO distribution and IR services to 600 enterprises. It has assisted 387 companies, including Meituan, Kuaishou, Xiaomi, Baidu, KE Holdings, JD Health, and Bilibili, in successfully listing in Hong Kong and the United States. Futu has cumulatively signed contracts with 830 ESOP clients, and a total of 1,300 listed companies are now hosted on the Futu platform.

In the future, Futu will fully leverage its resources and market influence to provide more professional and efficient services to a wider range of clients!

*Securities-related businesses such as IPO distribution are provided by licensed subsidiaries under Futu.

*Data source: Market value calculated based on the first day of listing.

*Data source: Futu's Q4 2025 earnings report

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