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新吉奥房车IPO:零部件中国生产,年入7亿元

New Geo Touring Car IPO: Parts produced in China, annual revenue of 700 million yuan

Le Ju ·  May 30 10:49

On May 28, New Ji'ao Motorhome Co., Ltd. (hereinafter referred to as "New Ji'ao Motorhome") submitted an application for listing to the HKEx, with Huatai International as its exclusive sponsor. In 2021, 2022, and 2023, the revenue of New Ji'ao Motorhome was RMB 300 million, RMB 499 million, and RMB 720 million, respectively, with corresponding gross margins of 16.7%, 16.5%, and 25.1%, and corresponding net profits of RMB 25.1 million, RMB 33 million, and RMB 78.8 million.

In 2021, 2022, and 2023, the revenue of New Ji'ao Motorhome was RMB 300 million, RMB 499 million, and RMB 720 million, respectively, with corresponding gross margins of 16.7%, 16.5%, and 25.1%, and corresponding net profits of RMB 25.1 million, RMB 33 million, and RMB 78.8 million.

Most of the business, assets, and operations of New Ji'ao Motorhome are located in China and Australia, where it produces motorhome parts in China and assembles them in Australia. The motorhomes are mainly sold to customers in Australia and a smaller range of customers in New Zealand through third-party dealers, self-owned stores, and joint venture stores operated in cooperation with partners.

In 2021, 2022, and 2023, the revenue of New Ji'ao Motorhome sourced from Australia was RMB 280 million, RMB 471 million, and RMB 676 million, accounting for 93.5%, 94.4%, and 93.8% of total revenue, respectively. The revenue sourced from New Zealand was RMB 19.3 million, RMB 27.7 million, and RMB 44.3 million, accounting for 6.5%, 5.6%, and 6.2% of total revenue, respectively.

As of December 31, 2023, New Ji'ao Motorhome had a total of 670 employees, including 464 in China and 206 in Australia.

As of December 31, 2023, New Ji'ao Motorhome had generated RMB 2.8 million, RMB 5.1 million, and RMB 8 million in R&D expenses in the three years, respectively. The product R&D team consists of 44 members.

New Ji'ao Motorhome is a motorhome platform with a wide business network in Australasia, designing, developing, manufacturing, and selling customized towable motorhomes. According to Frost & Sullivan, the company ranks second in the motorhome industry in Australasia based on its 2023 sales volume. Australasia generally refers to a region of Oceania, including Australia, New Zealand, and neighboring Pacific islands.

The translation is provided by third-party software.


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