① industry digital financial platform in the enterprise cloud chain delivery table, how is the performance in the past three years? Yunji Inc, shareholder of ② state-owned enterprise, what are the highlights of the company's business?
Financial Associated Press, Oct. 19 (Editor Feng Yi)1 China Enterprise Cloud chain Co., Ltd. submitted an application for listing on the main board of the Hong Kong Stock Exchange on October 18, and the co-sponsors were CITIC Construction Investment International, Agricultural Bank of China International, ICBC International and Mai Shi Capital.
According to the prospectus, China Enterprise Cloud chain is an independent industrial digital financial platform. According to Frost Sullivan, in terms of the amount of power confirmed and the amount of financing in 2022, the company is the largest platform for independent digital enterprises in China, with a market share of 25.9% and 31.3% respectively. The company's independent platform is also the first independent digital enterprise platform with a cumulative confirmation amount of more than 1 trillion yuan in China.
At present, the operation of Chinese enterprise cloud chain includes three major businesses, namely, core power confirmation business (cloud credit, factoring, supply chain bill service), as well as scene digital business and other ecological business.
As of June 30, 2023, the company's sales and marketing team has covered 102 cities in 31 provinces and cities in China, and the number of active users of the platform has reached 163226, mainly including core enterprises, chain enterprises and financial institutions. In the fiscal year 2020-2022, the retention rates of the platform's core enterprises were about 83.1%, 87.3% and 88.5%, respectively.
According to data, the China Enterprise Cloud chain was launched by CRRC Corporation in 2015, jointly with seven central enterprises, including China Railway Construction Corporation, China Shipbuilding and China Iron, and four financial institutions including Industrial and Commercial Bank of China, Agricultural Bank Of China, China Minsheng Banking Corp and CITIC Construction Investment. BAIC Group, Shanghai Jiushi, Yuntianhua, Zijin Mining Group four local state-owned enterprises Kingdee Software, Genting assets, IDG Capital, Oceanwide Investment and other six private enterprises set up supply chain financial mixed ownership enterprises.
It is worth noting that some shareholders have gradually withdrawn since 2019. As of the last practical date, Genting assets, Tianjin Economic Development District state-owned investment and CRRC Corporation's Huaxing Guochuang Fund held 23.11%, 20.73% and 10.31% respectively.
In addition, the company's shareholders also include Kingdee, China Energy Construction, China Merchants Venture Capital Fund, CITIC Construction Investment, BAIC Industrial Investment and other state-owned background institutions.
According to the China Enterprise Cloud chain, this financing will be mainly used to enhance core technology and basic R & D capabilities, enhance science and technology infrastructure, enhance sales, brand promotion capabilities, expand international business and strategic investment.
According to Frost Sullivan, by 2022, China's digital economy market has reached 50.2 trillion yuan, with a compound growth rate of 12.5% from 2018 to 2022. It is expected to reach 82 trillion yuan in 2027, with a compound annual growth rate of 10.3% from 2022 to 2027.
Among them, in terms of the amount of confirmed rights, the market size of the platform of independent digital enterprises reached 1.4 trillion yuan in 2022, with a compound annual growth rate of 52.6% from 2018 to 2022. It is expected to reach 6.6 trillion yuan in 2027, with a compound annual growth rate of 36.7% from 2022 to 2027.
The financial report shows that from 2020 to 2022 and before June 2022 and 2023, the main business income and income of China Enterprise Cloud chain were about 332 million yuan, 550 million yuan, 652 million yuan, 315 million yuan and 399 million yuan respectively; in the same period, the realized annual profits were-44.205 million yuan,-28.29 million yuan, 45.68 million yuan, 11.169 million yuan and 61.968 million yuan, respectively.
It is worth noting that the revenue share of the confirmed power business during the period has always been maintained at about 90%, which has a great impact on the company's performance.
China Enterprise Cloud chain also suggested that due to the rapid development of China's digital financial industry, emerging business models will also face uncertainties such as increased competition and a changing regulatory environment. The company's relationship with core customers, business partners and financial institutions also has a vital impact on the business.
In addition, the company's daily business involves a large amount of confidential and sensitive data information, and improper collection, hosting, use or disclosure of such data may damage the company's reputation and have a significant adverse impact on the company's business and prospects. Related security and policy risks may also pose challenges to the business.
