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source: hong kong stock market news

in modern society, mobile phones have become a necessity in people's lives. whether it is making calls, sending messages, shopping, reading news, listening to music, playing games, etc., mobile phones are indispensable.

in the past decade, my country's mobile phone shipments have been among the highest in the world. in 2023, china's mobile phone shipments were approximately 289 million units, and it is expected to grow to approximately 341 million units by 2028.

with the replacement of mobile phones, consumers' demand for disposing old or idle mobile phones is also increasing. against this background, my country's mobile phone recycling market continues to grow. coupled with the consumption upgrade of second-hand electronic devices such as laptops and tablets, it has jointly promoted the vigorous development of the second-hand consumer electronic product trading market.

there are already companies engaged in mobile phone recycling business that are planning to go public in hong kong through ipo.

glodon learned that recently, flashback technology co., ltd. (hereinafter referred to as "flashback technology") submitted a prospectus to the hong kong stock exchange, intending to be listed on the main board of the hong kong stock exchange through an ipo, and zero2ipo capital is its exclusive sponsor. it is reported that flashback technology submitted its application to the hong kong stock exchange in february this year.

according to frost & sullivan, based on the total amount of recycling transactions from the consumer side in 2023, flashback technology is the largest offline mobile phone recycling service provider for trade-in exchanges in my country, and the third largest mobile phone recycling service provider in china, with market shares of approximately 7.4% and 1.4% respectively.