Webon Sports IPO on the Shenzhen Stock Exchange Terminated, a Global Leader in Ground Pool ODM

On February 14, Weibang Sports Technology Group Co., Ltd. (referred to as "Weibang Sports") had its IPO review status on the Shanghai Stock Exchange's main board changed to "terminated". As Weibang Sports and its sponsor withdrew its IPO application, according to the relevant provisions of Article 63 of the "Shanghai Stock Exchange Stock Issuance and Listing Review Rules", the Shanghai Stock Exchange terminated its IPO review. The prospectus shows that Weibang Sports mainly engages in the research, design, production, and sales of outdoor sports products such as core components of above-ground swimming pools, outdoor sports products, and core components of inflatable sports products. The Company is a global leader in the ODM of above-ground swimming pools, deeply involved in the product research and development, design, and manufacturing of the entire process of above-ground swimming pools. The core components of above-ground swimming pools mainly include pool frames, water treatment equipment, and pool-specific ladders, mainly playing a role of fixed support, water treatment, and entry and exit of above-ground swimming pools; outdoor sports products mainly include outdoor rocking chairs, rotating chairs, and folding chairs, mainly applied in outdoor camping and courtyard leisure activities; the core components of inflatable sports products mainly include motors and air pumps, mainly playing a role of charging and discharging air. With the product supply system built by years of manufacturing experience and product design that matches the market, excellent product quality, and perfect after-sales service capabilities, the Company has achieved a leading industry position in the core components of above-ground swimming pools. Weibang Sports currently occupies a dominant position in the market of core components of above-ground swimming pools with a market share of 50.20% in 2021, the largest producer of core components of above-ground swimming pools in the global market. The Company will invest in the following projects after deducting the issuance expenses from the proceeds of the issuance: [Insert image] Financially, Weibang Sports achieved revenue of approximately RMB3.188 billion, RMB2.3 billion, RMB1.438 billion, and RMB912 million in 2021, 2022, 2023, and 1-6 months of 2024, respectively; and the Company achieved net profit of RMB449 million, RMB373 million, RMB233 million, and RMB158 million in the same period. [Insert image]