The Zhitong Finance App learned that according to the Hong Kong Stock Exchange's disclosure on October 26, Zibu Yu Group Co., Ltd. passed the Hong Kong Stock Exchange listing hearing, with Huatai International and Agricultural Bank International as co-sponsors.

Zibu Yu Group is one of the largest cross-border e-commerce companies in China, focusing on selling clothing and footwear products through third-party e-commerce platforms. According to Frost & Sullivan's data, according to the 2021 GMV calculation, the company ranked third among all platform sellers in China's cross-border B2C e-commerce apparel and footwear market, accounting for 0.4% of the RMB 596.5 billion market share. Furthermore, according to GMV generated in North America in 2021, the company ranked first among all platform sellers in China's cross-border B2C e-commerce apparel and footwear market, accounting for 0.7% of the RMB 303 billion market share. The company has been awarded the “Best Cross-border E-Commerce Brand Award” for six consecutive years since 2016, in recognition of the company's outstanding performance.

Since its establishment in 2011, the company has mainly focused on selling a variety of independently designed clothing, shoes and other products worldwide. The company mainly designs clothing, footwear and other products, procures products from selected OEM suppliers according to the company's design and produced according to OEM benchmarks, and then sells related products to customers around the world through third-party e-commerce platforms and the company's own website. The company delivers products to customers through third-party logistics service providers or fulfillment services provided through third-party e-commerce platforms. Using a fully integrated and efficient supply chain, the company can provide customers with fashion apparel and footwear products at competitive prices. The company sells products to customers in more than 80% of countries and regions around the world (including the United States, Germany, and France) through major third-party e-commerce platforms and the company's own websites.

According to information, the company's suppliers mainly include third-party OEM suppliers and logistics service providers, most of which are located in China. The company procures all products from selected domestic OEM suppliers. For the years ended 31 December 2019, 2020, 2021, and the six months ending June 30, 2022, the total procurement volume from the five major suppliers in each year of the performance record period accounted for about 51.9%, 46.7%, 48.8% and 61.9% of the total procurement volume for the same period, while purchases from the largest suppliers in each year during the performance recording period accounted for about 23.5%, 19.7%, 38.6% and 57.4% of total procurement for the same period, respectively. During the recording period, the company's top five suppliers included third-party e-commerce platforms, logistics service providers, and marketing service providers.

As of the last practical date, the company's sales channels include (i) Amazon; (ii) Wish; (iii) other third party e-commerce platforms such as eBay and AliExpress; and (iv) the company's own website. As of the last practical date, the company operated all of its own websites on proprietary websites.

In terms of finance, in 2019, 2020, 2021 and the six months ending June 30, 2022, the company achieved revenue of 1,429 billion yuan, 1,888 million yuan, 2,347 million yuan, 1,278 million yuan, and gross profit of about 998 million yuan, 1,378 million yuan, 1,766 million yuan, and 969 million yuan respectively.