On January 2, the International Cooperation Department of the Securities Regulatory Commission issued a filing notice on the “full circulation” of overseas issuance and domestic unlisted shares of Baiwang Co., Ltd.
The Zhitong Finance App learned that on January 2, the International Cooperation Department of the Securities Regulatory Commission issued a “full circulation” filing notice on Baiwang Co., Ltd.'s overseas issuance and “full circulation” of domestic unlisted shares. Baiwang shares plans to sell no more than 24.6.39,900 shares of overseas listed common shares and list them on the Hong Kong Stock Exchange. At the same time, the 50 shareholders of Baiwang Co., Ltd. plan to convert a total of 81.580.48 million domestic unlisted shares into overseas listed shares and list them for circulation on the Hong Kong Stock Exchange.
According to the Hong Kong Stock Exchange's disclosure on June 28, Baiwang Co., Ltd. (hereinafter: Baiwang Shares) submitted a listing application to the main board of the Hong Kong Stock Exchange, with Haitong International as the sole sponsor.
According to the prospectus, Baiwang Co., Ltd. is a comprehensive enterprise digital solution provider in China, focusing on providing digital fiscal and data-driven intelligent solutions through the Baiwang Cloud platform. The company processes a variety of transaction documents, including but not limited to invoices, receipts, documents, and other accounting documents, which accurately reflect the key business processes of corporate transactions. With valuable business insight into large amounts of transaction data and advanced big data analysis capabilities, it enables financial service providers and other enterprise customers to achieve automated and digital business decisions.
In terms of revenue, Baiwang Co., Ltd. ranked first in the digital market for cloud-based finance and tax-related transactions in 2022, with a market share of 6.6%; in 2022, through cloud-based solutions, the company completed about 700 million invoice processing requests, ranking first among digital solution providers for fiscal and tax-related transactions in China; in 2022, through cloud-based solutions, Baiwang Co., Ltd. issued about 1.7 billion value-added tax invoices. In terms of revenue, the company's market share for big data analysis related to financing small and micro enterprises in China was 5.9%.