The Zhitong Finance app learned that according to the disclosure of the Hong Kong Stock Exchange on December 17, Pig Bajiao Co., Ltd. (Pig Bajiao for short) submitted a listing application to the main board of the Hong Kong Stock Exchange. CITIC Securities and CCB International are its co-sponsors. The company submitted listing applications to the main board of the Hong Kong Stock Exchange on October 14, 2022 and April 14, 2023.

According to the prospectus, Pig Bajie is a major customized enterprise service e-commerce platform in China. It focuses on using technology to intelligently match the service needs of enterprise employers with the skills of service providers through the Pig Bajie platform, and to match transactions between corporate employers and service providers.

The Pig Bajie platform is the foundation of the company's enterprise service platform business. Thus, the company can make good use of the huge enterprise employer and service provider user base accumulated by the enterprise service business platform, and further expand its business line to smart enterprise services, industrial service business, and the government's regional enterprise service ecosystem to promote cooperative business. The platform uses the Internet, AI and big data technology to establish and operate a trading market, providing matching services, membership services, advertising services, tools and subscription services for enterprises.

As of June 30, 2023, enterprise employers can purchase more than 810 types of enterprise services on the Pig Bajie platform. The cumulative number of registered users has reached 3.46 million, of which the cumulative number of enterprise employers has reached 2.69 million, and the cumulative number of service providers has reached 7.7 million.

According to iResearch's report, in terms of GMV in 2022, the company ranked second in the e-commerce market for customized enterprise services in China, with a market share of about 2.4%. In terms of GMV and revenue, the company's market share in China's customized enterprise services market in 2022 was about 0.12% and 0.006%, respectively. According to iResearch's report, in 2022, the Chinese customized enterprise service e-commerce market accounted for about 5.2% and 4.5% of the market share of the Chinese customized enterprise service market and China's overall enterprise service market, respectively.

According to the prospectus, as of 2020, 2021, 2022, and June 30, 2023, the company's earnings were 757 million yuan, 768 million yuan, 541 million yuan, and 252 million yuan respectively. In the same period, the company's year/period losses were 269 million yuan, 367 million yuan, 230 million yuan and 78 million yuan respectively.