Name▼ / Code▲ | Industry | Listing Price | Lot Size | Entry Fee | Phillip Grey Market | Futu (HK) Grey Market | ||
Newtrend Group 02573.HK Grey Market Today | Food Additives | Pending | 200 | 4,222 | - | - | Detail Quote | |
MetaLight 02605.HK Grey Market Today | Advertising | 9.750 | 400 | N/A | - | - | Detail Quote | |
Rongta Technology 09881.HK Grey Market Today | Advanced hardware and software | Pending | 500 | 6,061 | - | - | Detail Quote | |
Last update: 2025-06-09 08:30:06 |
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We are a mobility service company in China primarily offering ride-hailing services. In 2021, 2022 and 2023, our revenue from ride-hailing services accounted for 99.2%, 91.0% and 83.9% of our total revenue, respectively. According to Frost & Sullivan, our mobility services ranked second in the Greater Bay Area with a market share of 5.6% in terms of GTV in 2023. We serve and connect various participants of the mobility industry including the riders, drivers, automobile OEMs, vehicle service providers and autonomous driving solution providers. We offer (i) mobility services; (ii) technology services, primarily AI data and model solutions, and high-definition (HD) maps; and (iii) fleet sale and maintenance where we offer a full suite of support for drivers and car partners. Our shareholders with diverse background have enriched our market insights and understanding of key stakeholders along the mobility service value chain, enabling us to integrate resources across the automobile and mobility service industries. We were founded by GAC Group and Tencent, and subsequently introduced Pony AI, an autonomous driving solution provider, as a strategic shareholder. Connecting automobile manufacturers, internet companies and autonomous driving solution providers, we have been promoting the commercialization of autonomous driving technologies. We offer mobility services in a broad geographic region. As of December 31, 2023, we strategically focused on nine foothold cities, the majority of which are in the Greater Bay Area. We have prioritized resources on our foothold cities to quickly penetrate the market. Once we reach a critical scale, we can achieve greater efficiency and returns from these cities, driven by which we can then expand into the neighboring areas. In expanding our network, taking into account the demographic and socioeconomic conditions of municipal markets, we prioritize cities that have connection with our existing network. Guided by such geographical expansion strategy, we have replicated the market entry strategies, operational expertise and management systems to new markets in adjacent regions. Our geographical expansion strategy enables us to lower the cost of market penetration and customer acquisition, and therefore to achieve sustainable and efficient growth. As of December 31, 2023, our user penetration rate in the Greater Bay Area exceeded 45%, ranking second in the Greater Bay Area, according to Frost & Sullivan. We are committed to R&D and have built technology advantages in smart mobility. Our self-developed AI algorithm model generates routing and matching plans for drivers and riders, forming the foundation of an efficient, reliable and safe platform. We also provide autonomous driving data solutions such as AI data and model solutions, HD map, and smart transportation solutions, to autonomous driving solution providers, OEMs and government departments. In our technology services, our proprietary AI perceptive algorithm base model has achieved over 95% recall and precision in AI pre-annotations of driving data sets, and is applied in our AI data and model solutions. In 2021, 2022 and 2023, our R&D expenses accounted for 11.5%, 7.7%, and 5.5% of our total revenue, respectively. We work with Pony.ai, an autonomous driving solution provider, as well as GAC R&D Center in R&D initiatives in the autonomous driving field. We experienced rapid growth during the Track Record Period, while continually improving our operational efficiency and optimizing our business model. As of December 31, 2023, the number of registered riders on our mobility service platform reached 23.8 million. Our revenue from mobility services increased from RMB1,012.5 million in 2021 to RMB1,249.8 million in 2022, and further to RMB1,814.1 million in 2023, representing a CAGR of 33.9%. Our total revenue increased from RMB1,013.5 million in 2021 to RMB1,368.4 million in 2022, and further to RMB2,161.1 million in 2023, representing a CAGR of 46.0%. Source: Chenqi Technology (09680) Prospectus (IPO Date : 2024/06/28) | |
Listing Market | MAIN |
Industry | Trucking |
Background | Others |
Major Business Area | N/A |
Substantial Shareholders | Guangzhou Automobile Industry Group Company Limited (22.68%) [00700] Tencent Holdings Limited (15.87%) [02238] Guangzhou Automobile Group Company Limited (12.84%) DiDi Global Inc. (5.70%) Peng Jun & Associates (5.35%) |
Directors | GAO Rui (Chairman and Non-Executive Director) JIANG Hua (Chief Executive Officer and Executive Director) BAI Hui (Non-Executive Director) LIANG Weiqiang (Non-Executive Director) XIAO Yan (Non-Executive Director) ZHONG Xiangping (Non-Executive Director) LI Maoxiang (Independent Non-Executive Director) ZHANG Junyi (Independent Non-Executive Director) ZHANG Senquan (Independent Non-Executive Director) |
Company Secretary | CHUNG Ming Fai LI Jiawei |
Principal Bankers | CITIC Bank International Limited China Construction Bank |
Solicitors | Clifford Chance Haiwen & Partners King & Wood Mallesons Maples and Calder (Hong Kong) LLP |
Auditors | KPMG |
Registered Office | 40th Floor, Dah Sing Financial Centre, No. 248 Queen Road East, Wanchai, Hong Kong |
Share Registrars | Tricor Investor Services Ltd. [Tel: (852) 2980-1333] |
Share Registrars Tel No | (852) 2980-1333 |
Internet Address | https://www.ruqimobility.com |
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