IPO Plus - IPO

	Name▼ / Code▲	Industry	Listing Price	Lot Size	Entry Fee	Phillip Grey Market	Futu (HK) Grey Market
	Gon Technology 02768.HK Grey Market Today	Diversified Chemicals	Pending	200	8,484.71	-	-	Detail Quote
	Last update: 2026-02-03 08:30:05

Name▼

Code▲

Industry

Listing Price

Lot Size

Entry Fee

Phillip Grey Market

Futu (HK) Grey Market

Gon Technology
02768.HK

Grey Market Today

Diversified Chemicals

Pending

200

8,484.71

Detail Quote

Last update: 2026-02-03 08:30:05

Name▼ / Code▼	Industry	Offer Price	Lot Size	Entry Fee	Closing Date	Grey Market Date▼	Listing Date▲
Distinct Healthcare 02677.HK	Health Care Services	57.7-66.6	50	3,363.58	2026/02/03	2026/02/05	2026/02/06
Muyuan Foods 02714.HK	Poultry, Meat and Seafood	N/A	100	3,939.34	2026/02/03	2026/02/05	2026/02/06
Han's CNC 03200.HK	Printed Circuit Boards	N/A	100	9,676.61	2026/02/03	2026/02/05	2026/02/06
Montage Tech 06809.HK	Semiconductors & Semiconductor Equipment	N/A	100	10,796.80	2026/02/04	2026/02/06	2026/02/09
Axera 00600.HK	Semiconductors & Semiconductor Equipment	28.2	100	2,848.44	2026/02/05	2026/02/09	2026/02/10
Ridge Outdoor 02720.HK	Leisure Products	11.25-12.25	500	6,186.78	2026/02/05	2026/02/09	2026/02/10
Wuxi Lead 00470.HK	N/A	N/A	100	4,626.19	2026/02/06	Not applicable	2026/02/11

Name▼

Code▼

Industry

Offer Price

Lot Size

Entry Fee

Closing Date

Grey Market Date▼

Listing Date▲

Distinct Healthcare
02677.HK

Health Care Services

57.7-66.6

3,363.58

2026/02/03

2026/02/05

2026/02/06

Muyuan Foods
02714.HK

Poultry, Meat and Seafood

N/A

100

3,939.34

2026/02/03

2026/02/05

2026/02/06

Han's CNC
03200.HK

Printed Circuit Boards

N/A

100

9,676.61

2026/02/03

2026/02/05

2026/02/06

Montage Tech
06809.HK

Semiconductors & Semiconductor Equipment

N/A

100

10,796.80

2026/02/04

2026/02/06

2026/02/09

Axera
00600.HK

Semiconductors & Semiconductor Equipment

28.2

100

2,848.44

2026/02/05

2026/02/09

2026/02/10

Ridge Outdoor
02720.HK

Leisure Products

11.25-12.25

500

6,186.78

2026/02/05

2026/02/09

2026/02/10

Wuxi Lead
00470.HK

N/A

100

4,626.19

2026/02/06

Not applicable

2026/02/11

Summary

We are the largest fishing-related equipment manufacturer globally, with a market share of 23.1% in terms of revenue in 2024, according to Frost & Sullivan. Fishing-related equipment market is a sub-sector of fishing gear market which encompasses fish tackle market. Fishing-related equipment market accounted for approximately 5.2% of the fishing gear market globally in terms of retail sales in 2024, according to Frost & Sullivan. We had a market share of 1.3% in the global fishing gear manufacturing market in terms of revenue in 2024, according to Frost & Sullivan. Fishing gear encompasses both fishing tackle and fishing-related equipment. Fishing tackle refers to the tools utilized for capturing fish from aquatic environments, such as fishing rods, reels, hooks, lines and baits. Fishing-related equipment, on the other hand, pertains to items designed to enhance anglers’ convenience, comfort and efficiency in outdoor settings. Fishing-related equipment generally includes fishing chairs and bed chairs, seatboxes, barrows, backpacks, sleeping bags and tents. We have been focusing on fishing-related equipment and have cultivated a broad product portfolio primarily encompassing (i) chairs, bedchairs and other accessories, such as fishing chairs, fishing bedchairs, rod pods, barrows and seatboxes; (ii) bags, such as shoulder bags, fishing backpacks and rod holdalls; and (iii) tents, such as bivvies, social bivvies and shelters. Our products are expertly crafted to serve a wide range of fishing scenarios such as carp fishing, match fishing, lure fishing, fly fishing and ice fishing. We operate a dual business model, combining OEM/ODM manufacturing capabilities with a growing OBM presence to address diverse market demands. Capitalizing on our product portfolio, product design and development, supply chain and quality control, we offer outdoor fishing-related equipment brands with OEM/ODM solutions spanning across the entire process from product design to manufacturing. We have become a global leader in fishing-related equipment OEM/ODM solutions. During the Track Record Period, we primarily derived our revenue from the OEM/ODM model, which accounted for 94.1%, 90.2%, 92.3% and 93.1% of our total revenue in 2022, 2023, 2024 and the eight months ended August 31, 2025, respectively. In addition, building on our solid experience in fishing-related equipment design and manufacturing, we strategically expanded into own brand operations. We acquired the renowned UK-based carp fishing brand, Solar, in 2017. Empowered by ongoing resource investments and industry-leading supply chain, Solar’s sales in 2024 have grown to approximately threefold compared to 2018. Our experience with Solar has provided a framework of standardized processes in brand management, product development and efficient marketing strategies within the OBM model. Building on these insights, we are positioned to scale our OBM efforts by launching or acquiring additional fishing gear brands. With more than 30 years of accumulated expertise, we have forged long-term, stable partnerships with prominent outdoor equipment brands worldwide, particularly fishing tackle brands. Our client network includes globally recognized outdoor equipment retailers such as Decathlon, globally recognized fishing brands such as Rapala VMC and Pure Fishing, well-known UK fishing brands such as Fox, Nash, Trakker, and Preston, as well as renowned U.S. outdoor equipment companies such as Ardisam. As of the Latest Practicable Date, our products had been sold to over 40 countries, including mature markets with rich fishing traditions such as the U.K. and U.S., as well as rapidly growing markets such as China and Southeast Asia. Leveraging our competitive advantages built through years of experience, we have been strengthening our market position. In the fishing-related equipment manufacturing industry in China, our market share has steadily increased from 23.4% in 2022 to 28.4% in 2024, solidifying our position as a market leader with continued growth potential. During the Track Record Period, our gross profit margin increased from 23.2% in 2022 to 26.6% in 2024, and further increased to 27.7% in the eight months ended August 31, 2025. Source: Ridge Outdoor (02720) Prospectus (IPO Date : 2026/01/31)
Listing Market	MAIN
Industry	Leisure Products
Background	Others
Major Business Area	Europe

Corporate Information

Substantial Shareholders	Yang Baoqing (73.92%)
Directors	Yang Baoqing (Chairman and Non-Executive Director) Lei Yang (General Manager and Executive Director) Wu Guihua (Deputy General Manager and Executive Director) Wen Meixia (Non-Executive Director) Ding Feng (Independent Non-Executive Director) Han Hongling (Independent Non-Executive Director) Shu Yuanchao (Independent Non-Executive Director)
Company Secretary	Wong Wai Yee, Ella Xue Yuanyuan
Principal Bankers	Citibank N.A.
Solicitors	Clifford Chance Campbells Grandall Law Firm
Auditors	KPMG
Registered Office	Room 1915, 19/F, Lee Garden One, 33 Hysan Avenue, Causeway Bay, Hong Kong
Share Registrars	Tricor Investor Services Ltd. [Tel: (852) 2980-1333]
Share Registrars Tel No	(852) 2980-1333
Internet Address	http://www.ridgeoutdoor.com
Email Address	ir@ridgeoutdoor.com
Tel No	(86 571) 2817-9852
Fax No

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