Tongshifu Cultural Officially Lists Patrons Acts as Joint Bookrunner Joint Lead Manager and Capital Market Intermediary
On the morning of March 31, Hangzhou Tong Shifu Cultural and Creative (Group) Co., Ltd. (hereinafter referred to as "Tongshifu" or the "Company"), stock code 0664.HK, officially commenced trading on the Main Board of the Stock Exchange of Hong Kong. The final offer price was set at HK$60 per share, with the public offering achieving an impressive 58.55 times oversubscription.
Patrons acted as the Joint Bookrunner, Joint Lead Manager, and Capital Market Intermediary in this offering. Leveraging its exceptional capital market service capabilities, Patrons assisted this leading Chinese cultural and creative arts enterprise in successfully making its debut on the international capital stage.
Previously, Tongshifu launched its initial public offering (IPO) from March 23 to March 26, 2026. The public offering portion of the IPO received an enthusiastic response, fully reflecting market recognition of the "traditional craftsmanship combined with modern design" model and the youth-oriented "Goods Economy" sector.
According to the prospectus, Tongshifu intends to allocate the net proceeds as follows:
-
Approx. 38% will be used to invest in product development and design capabilities, including the construction of a new R&D center covering approximately 31,000 square meters within its Hangzhou facilities to support the strategic transition from copper to diverse materials such as gold and silver;
-
Approx. 24% will be used to increase production capacity and fulfillment flexibility by purchasing advanced equipment such as precision casting machines and CNC tools to meet growing market demand;
-
Approx. 24% will be used to strengthen sales channels and marketing capabilities, accelerate international market presence, further expand the network of offline self-operated stores, and reach overseas markets such as Southeast Asia;
-
Approx. 4% will be used to upgrade digital and information infrastructure, implementing MES and WMS systems to enhance operational efficiency;
-
Approx. 10% will be allocated for working capital and general corporate purposes.
Patrons noted that Tongshifu is an undisputed leader in the "Goods Economy." Based on total 2024 revenue, the company ranks first in China’s market for copper cultural and creative craft products with a 35.0% market share. The company has built a massive IP matrix; as of September 30, 2025, it held 1,776 artistic copyrights. Its iconic "Great Sage Series" and "Copper Gourd Series" have become benchmarks in cultural and creative merchandise.
Regarding profitability, Tongshifu recorded a net profit of RMB 78.982 million in 2024, representing a significant year-on-year increase of approximately 79.0% compared to 2023. The company’s gross margin rose to 35.4% in 2024, reflecting the high quality of earnings under its vertically integrated production model. Patrons believes that as the "Guochao" (China-Chic) trend continues to rise, Tongshifu is poised to further unlock its brand value through omni-channel distribution.
Throughout Tongshifu’s journey to the Hong Kong IPO market, Patrons was deeply involved as a Joint Bookrunner, Joint Lead Manager, and Capital Market Intermediary. Relying on precise market insights and resource integration capabilities, Patrons provided full-cycle listing support, effectively ensuring the smooth execution of this IPO project.
If there is any inconsistency or ambiguity between these two versions, the Chinese version shall prevail.
