The company’s Lemobar-brand intelligent chairs have taken nearly 40% of China’s growing market for automated massages
Key Takeaways:
- Lemo has applied to list in Hong Kong, luring investors with its status as China’s top massage chair maker for three consecutive years
- The company’s revenue grew nearly 40% in the first nine months of 2024, but its net profit was roughly flat over that time
Hong Kong’s IPO market has come to life with a vengeance lately, with companies lining up to list after a prolonged winter. While big names like CATL (300750.SZ) are serving up some of the biggest listings, likely to raise $1 billion or more, plenty of niche players in high-growth areas are piling in as well, many with interesting stories to tell.
One such company muscling its way into the queue is Fujian Lemo IoT Technology Co. Ltd., aiming to sell investors on its signature high-tech massage chairs that are finding their way into shopping malls and other entertainment venues around China.
Lemo was founded in May 2014, and purchased two years later by Xie Zhonghui, who has used the company to develop the intelligent massage business. He launched its Lemobar brand shortly afterwards to officially kick off his vision of building an intelligent massages service business.
Ancient roots
Massage is an ancient form of medical treatment in China, done by applying pressure, friction or vibrations to different parts of the body to relieve pain and improve circulation. The market for such services in China is huge, worth 518.3 billion yuan ($71 billion) in 2024, and expected to grow 16.4% annually to 644.2 billion yuan in 2028, according to third-party market data in Lemo’s listing document filed earlier this month.
The entire massage market can be broadly divided …
Full story available on Benzinga.com
The company’s Lemobar-brand intelligent chairs have taken nearly 40% of China’s growing market for automated massages
Key Takeaways:
- Lemo has applied to list in Hong Kong, luring investors with its status as China’s top massage chair maker for three consecutive years
- The company’s revenue grew nearly 40% in the first nine months of 2024, but its net profit was roughly flat over that time
Hong Kong’s IPO market has come to life with a vengeance lately, with companies lining up to list after a prolonged winter. While big names like CATL (300750.SZ) are serving up some of the biggest listings, likely to raise $1 billion or more, plenty of niche players in high-growth areas are piling in as well, many with interesting stories to tell.
One such company muscling its way into the queue is Fujian Lemo IoT Technology Co. Ltd., aiming to sell investors on its signature high-tech massage chairs that are finding their way into shopping malls and other entertainment venues around China.
Lemo was founded in May 2014, and purchased two years later by Xie Zhonghui, who has used the company to develop the intelligent massage business. He launched its Lemobar brand shortly afterwards to officially kick off his vision of building an intelligent massages service business.
Ancient roots
Massage is an ancient form of medical treatment in China, done by applying pressure, friction or vibrations to different parts of the body to relieve pain and improve circulation. The market for such services in China is huge, worth 518.3 billion yuan ($71 billion) in 2024, and expected to grow 16.4% annually to 644.2 billion yuan in 2028, according to third-party market data in Lemo’s listing document filed earlier this month.
The entire massage market can be broadly divided …
Full story available on Benzinga.com
The company’s Lemobar-brand intelligent chairs have taken nearly 40% of China’s growing market for automated massages
Key Takeaways:
Lemo has applied to list in Hong Kong, luring investors with its status as China’s top massage chair maker for three consecutive years
The company’s revenue grew nearly 40% in the first nine months of 2024, but its net profit was roughly flat over that time
Hong Kong’s IPO market has come to life with a vengeance lately, with companies lining up to list after a prolonged winter. While big names like CATL (300750.SZ) are serving up some of the biggest listings, likely to raise $1 billion or more, plenty of niche players in high-growth areas are piling in as well, many with interesting stories to tell.
One such company muscling its way into the queue is Fujian Lemo IoT Technology Co. Ltd., aiming to sell investors on its signature high-tech massage chairs that are finding their way into shopping malls and other entertainment venues around China.
Lemo was founded in May 2014, and purchased two years later by Xie Zhonghui, who has used the company to develop the intelligent massage business. He launched its Lemobar brand shortly afterwards to officially kick off his vision of building an intelligent massages service business.
Ancient roots
Massage is an ancient form of medical treatment in China, done by applying pressure, friction or vibrations to different parts of the body to relieve pain and improve circulation. The market for such services in China is huge, worth 518.3 billion yuan ($71 billion) in 2024, and expected to grow 16.4% annually to 644.2 billion yuan in 2028, according to third-party market data in Lemo’s listing document filed earlier this month.
The entire massage market can be broadly divided …Full story available on Benzinga.com Read MoreAsia, contributors, IPOs, Asia, IPOs, Benzinga IPOs
