---
title: "IPO Filing | Cross-Border Digital Marketing Firm Powerwin — NI Margin >40%"
author: "Unique Research"
sourcePublication: "Unique Research (FFCAP English library)"
originalPublishedAt: "2022-06-15T21:44:37+08:00"
canonical: "https://ffcap.cn/en/research/20220615a0chxt00"
source: "https://ffcap.cn/en/research/20220615a0chxt00"
language: "en"
cnSourceUrl: "https://view.inews.qq.com/a/20220615A0CHXT00"
---

# IPO Filing | Cross-Border Digital Marketing Firm Powerwin — NI Margin >40%

_Unique Research · Insight / IPO Filing · June 15, 2022 · Full rewrite — not a stub_

On **May 20, 2022**, CB digital marketing group **Powerwin Tech (力盟科技)** (founded 2013; GF Securities HK sole sponsor) filed HKEX Main Board prospectus — first filing; no pre-IPO PE. China’s #3 ecom CB digital marketing / #5 overall CB digital marketing vendor. ’21 rev **$14.35M** (+22.8%), NI $5.78M (−2%), GM 84.8%; ’19–’21 rev $9.53M / $11.69M / $14.35M (CAGR ~23%). ~1,600 advertisers; partners Google, Twitter, TikTok, LinkedIn, YouTube, Snapchat + 19 top publishers; 240+ countries; ~440B impressions / 11B clicks in track record. Top-5 clients ~60% of rev. CB digital marketing market $22.3B ’21 → $51.1B ’25 (23% CAGR). Charts in CN images — attach on ingest.

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Editorial English edition published on UniqueCapital: https://ffcap.cn/en/research/20220615a0chxt00
On-site reading page: https://ffcap.cn/en/research/20220615a0chxt00