IPO Plus - IPO

Name▼ / Code▼	Industry	Offer Price	Lot Size	Entry Fee	Closing Date	Grey Market Date▼	Listing Date▲
Xunfei Healthcare 02506.HK	Application Software	82.8	50	N/A	2024/12/23	Data is not available	2024/12/30
InnoScience 02577.HK	Semiconductors & Semiconductor Equipment	30.86-33.66	100	3,400	2024/12/23	Data is not available	2024/12/30
HealthyWay 02587.HK	Health Care Services	7.8-8.8	500	4,444	2024/12/23	Data is not available	2024/12/30

Name▼

Code▼

Industry

Offer Price

Lot Size

Entry Fee

Closing Date

Grey Market Date▼

Listing Date▲

Xunfei Healthcare
02506.HK

Application Software

82.8

N/A

2024/12/23

Data is not available

2024/12/30

InnoScience
02577.HK

Semiconductors & Semiconductor Equipment

30.86-33.66

100

3,400

2024/12/23

Data is not available

2024/12/30

HealthyWay
02587.HK

Health Care Services

7.8-8.8

500

4,444

2024/12/23

Data is not available

2024/12/30

Summary

We are a fast growing commerce and service platform dedicated to serving business customers in China’s retail market, and we endeavour to provide quality merchandise and services to China’s lower-tier market. China’s lower-tier retail market refers to the retail industry of China’s lower-tier market, which covers all suburban and rural areas, as well as the urban areas of the cities in China that are not tier-one and -two cities according to the Frost & Sullivan Report. According to the Frost & Sullivan Report, the retail industry in both the lower-tier market and the overall PRC market remains highly fragmented and less penetrated by digitalization, and among the commerce platforms serving businesses in the retail industry in China, we ranked first and third in terms of transaction value of commerce business in the lower-tier market and in the overall PRC market in 2020, respectively, with a market share of less than 1% in each market. We provide both commerce business and service business to our customers. ‧ Under our commerce business, we procure products, including household appliances, consumer electronics, agricultural means of production, vehicles and auto parts, homebuilding and renovation materials, and liquor and beverages, from our suppliers and distribute mainly to wholesaler customers and member stores through our self-operated HTD Mall webpage. The revenue generated from our commerce business mainly includes sales revenue under direct sales model and commission income and service fees charged under online marketplace model. ‧ Under our service business, leveraging our digitalization capabilities, we mainly offer SaaS+ (through our Super Boss webpage and mobile app) and merchant solutions to retail stores and wholesalers along the industry value chain. The revenue generated from our service business mainly includes subscription fees we charged under SaaS+ business and service fees we charged under merchant solutions business. We established a membership-based business model in 2015 for retail businesses, since when we started to serve local retail stores in China’s towns and villages as the core of our member stores. We provide our member stores with stable one-stop supply chains, which include abundant merchandise offered on our platform with flexible delivery service options, addressing the diverse needs of the lower-tier retail market. To strengthen our interactions with member stores, we built a team of highly localized client managers, who have a deep understanding of the lower-tier market and provide in-person training and marketing services to the owners of our member stores. With our extensive and expanding member store network that deeply penetrates into the towns and villages in China, we have enhanced our relationship with suppliers that include brand manufacturers and distributors. Consequently, we were able to broaden our core market to counties and other areas of the lower-tier market, and enjoy a more diverse group of customers. In addition to member stores, we have also been developing our business with wholesaler customers, who we consider as our future strategic partners to further expand the reach of our retail ecosystem into the broader lower-tier market. During the Track Record Period, we have accumulatively connected over 160,000 member stores, 10,000 suppliers and 20,000 wholesaler customers. For the nine months ended September 30, 2021, we had 57,074 active member stores, 13,653 active wholesaler customers and 4,268 suppliers forming a retail ecosystem with over 175,000 SKUs covering 21 provinces and over 20,000 towns and villages across China. From January 1, 2021 to the Latest Practicable Date, we had 62,599 active member stores, 17,244 active wholesaler customers and 5,286 suppliers. According to the Frost & Sullivan Report, the way we calculate our active member stores and active wholesaler customers is in line with the market practice. Meanwhile, we have also expanded our merchandise offerings to six major categories, including household appliances, consumer electronics, agricultural means of production, vehicles and auto parts, and homebuilding and renovation materials, as well as liquor and beverages. According to the Frost & Sullivan Report, such merchandise have significant growth potential in household spending in the lower-tier market. For instance, the average household consumption spending on durable goods and agricultural means of production in the lower-tier market, which include household appliances, consumer electronics, homebuilding and renovation materials and agricultural means of production, increased from approximately RMB3,500 in 2015 to approximately RMB6,700 in 2020 with a CAGR of 13.9% and is expected to reach approximately RMB10,700 in 2025 with a CAGR of 9.8%, according to the Frost & Sullivan Report. In addition, they are generally associated with higher merchandise value and greater expectations for customer service and experience, according to the Frost & Sullivan Report. As a result, our rapidly growing commerce business contributes to our higher bargaining power with suppliers, allowing us to supply customers with competitively-priced products. This in turn solidified our market leadership. Source: Huitongda Network (09878) Prospectus (IPO Date : 2022/01/31)
Listing Market	MAIN
Industry	e-Commerce & Internet Services
Background	H Shares
Major Business Area	N/A

Corporate Information

Substantial Shareholders	WANG Jianguo & Associates (Total share: 29.44%); (H share: 23.58%) [09988] Alibaba Group Holding Limited (Total share: 16.27%); (H share: 10.76%) XU Xiuxian (Total share: 12.67%); (H share: 10.15%) Wang Jian (Total share: 5.16%); (H share: 4.14%)
Directors	WANG Jianguo (Chairman and Non-Executive Director) Sun Chao (Vice President and Executive Director) ZHAO Liangsheng (Vice President and Chief Financial Officer and Executive Director and Secretary to the Board) XU Xiuxian (Chief Executive Officer and Executive Director) CAI Zhongqiu (Non-Executive Director) WANG Ran (Non-Executive Director) LIU Xiangdong (Independent Non-Executive Director) YU Lixin (Independent Non-Executive Director) DIAO Yang (Independent Non-Executive Director)
Company Secretary	Au Wai Ching Tang Min
Principal Bankers	Industrial And Commercial Bank of China
Solicitors	Clifford Chance Grandall Law Firm
Auditors	KPMG
Registered Office	40th Floor, Dah Sing Financial Centre 248 Queen’s Road East Wanchai, Hong Kong
Share Registrars	Computershare Hong Kong Investor Services Ltd. [Tel: (852) 2862-8628]
Share Registrars Tel No	(852) 2862-8628
Internet Address	http://www.htd.cn
Email Address	ir@htd.cn
Tel No	(86 25) 6872-7979
Fax No

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