Overseas issuance of securities and listing records of domestic enterprises (September 21, 2023)
On September 21, the China Securities Regulatory Commission released the overseas issuance of securities and listing records of domestic enterprises (initial public offering and full circulation). Two new companies (1 US IPO, 1 Hong Kong IPO, 0 GDR) were added this week, and more than 139 filings have been announced so far, including at least 36 proposed US IPO listed companies (at least 8 have obtained filing notices). And a total of at least 95 companies planning to list IPO in Hong Kong (at least 22 have obtained the filing notice, 1 Hong Kong listing has been terminated), 1 issued GDR and listed on the Swiss Stock Exchange, 1 American listed company purchased Chinese assets, and 6 full circulation filings (all obtained filing notices). The four new ones this week are as follows:
One new company to list in Hong Kong this week is as follows:
Motor Street
Motor Street Development Co., Ltd.Autostreets Development Limited (abbreviated as "Motor StreetA prospectus will be submitted on the Hong Kong Stock Exchange on June 30, 2023, with a proposal to be listed on the Hong Kong main board IPO. However, according to disclosure, the company had previously received the filing on July 12, 2023.
Motor StreetThe type of declaration is indirect overseas listing, and the subject of filing is Shanghai Xinbao Broadcom Ltd Electronic Commerce Co., Ltd., and the date of receipt is September 20, 2023. CITIC and Haitong International are their co-sponsors, and Zhonglun is their domestic lawyer.
Motor StreetAs a used car trading platform, it mainly provides end-to-end highly standardized and reliable used car trading solutions for sellers (mainly 4S stores) and buyers (mainly professional buyers). According to the information provided by Huanshi Consulting, according to the trading volume in 2022Motor StreetIt is the largest used car trading platform in the country. In 2022, adoptedMotor StreetAbout 160000 used cars are traded on the trading platform, accounting for 12.6 per cent of the market share of China's used car trading platform. According to the information of Zuoshi Consulting, the company is also the used car trading platform with the largest number of offline auction sites and the widest geographical coverage of offline services in the country. As of December 31, 2022Motor Street78 studios have been set up in 73 cities in China, providing offline services to 238 cities across the country. As of December 31, 2022, more than 4900 4S stores had disposed of used cars on the company's platform, ranking first in China's used car trading platform market, according to Zhaoshi Consulting. During the track record period, about 14000 buyers bought three or more used cars on the Auto Street trading platform in any given year, ranking first in China's used car trading platform market, according to searing Consulting.
Auto Street prospectus link:
One new company to be listed in the United States this week is as follows:
Qinhong International
QINHONG INTERNATIONAL GROUP(hereinafter referred to as: Qinhong International), which first secretly submitted the form in SEC on December 6, 2019, and publicly disclosed the prospectus on January 6, 2022, and updated the prospectus on June 21, to be listed on NASDAQ IPO under the stock code QHI.
Qinhong InternationalThe type of declaration is indirect overseas listing, and the subject of filing is Chengdu Xiyuan supply chain Management Co., Ltd., and the date for receiving the filing is September 20, 2023. Axiom Capital Management,Inc is its underwriter and Douke is its domestic lawyer.
Qinhong InternationalChengdu, Sichuan, founded in 2017, is an emerging financial facilitation and referral service provider, mainly providing customers (mainly small and medium-sized enterprises and financial institutions) with various services related to the monetization of RTPs (bills, receivables and other collection rights). The company has established a network of small and medium-sized enterprises, commercial banks, factoring companies and other financial institutions, which can effectively and efficiently help the company's SME customers obtain more cash flow at a lower cost by disposing of their RTP, and assist the company's financial institution clients to find attractive diversified investment opportunities by recommending small and medium-sized enterprises with RTP financing requirements.
Qinhong prospectus link: