The Zhitong Finance App learned that according to the Hong Kong Stock Exchange's disclosure on November 29, Xinjio Touring Car Co., Ltd. (abbreviation: Xinjio) submitted a listing application to the main board of the Hong Kong Stock Exchange, and Huatai International is its sole sponsor.

According to the prospectus, Singeo is a motorhome company with an extensive business network in Australia and New Zealand that designs, develops, manufactures and sells custom trailer motorhomes. The company is committed to customized services. Production is centered on product quality, continuous improvement, flexibility, high automation and high operating efficiency. When designing and manufacturing motorhomes, the company focuses on comfort, safety and functionality. With a vertically integrated business model, we provide motorhome owners with an excellent, end-to-end car owner experience from conceptualization, design selection, customization, and delivery to various after-sales services. The company provides a full range of functions and a wider range of supporting services. It has a network of 54 recommended motorhome repair workshops (including the company's own stores and joint stores) to provide various after-sales services (including motorhome maintenance, repair and sales and upgrades of various motorhome parts and accessories). The company's geographical footprint spans major cities in Australia and New Zealand, including Melbourne, Sydney, Brisbane, Adelaide, Perth, Canberra, Auckland and Christchurch, and strategically has one to three dealerships, joint ventures and/or own stores in each location.

According to Frost & Sullivan, in terms of revenue and sales in 2023, the company ranked second in the market share of the Australian and New Zealand motorhome industry, with revenue accounting for about 7.8% of the market share. According to 2023 sales data, the top five players together account for about 55.4% of the market share. In the same year, the Group became the second-largest motorhome company in Australia and New Zealand, selling 2.7 thousand motorhomes and accounting for about 6.8% of the market share.

According to the prospectus, as of June 30, 2024, the company has successfully mass-produced 49 motorhomes, all standard motorhomes, covering eight different series under the three specialty brands Snowy River, Regent and NewGen. The company offers trailer motorhomes, including family models for family fun, compact models for adventurers, retractable models for those looking to increase their motorhome space, and multi-terrain models for the ultimate semi-off-road adventure. The company is committed to improving customer satisfaction and providing a variety of highly customized motorhome models. Furthermore, as of the last practical date, the company is in the final stage of developing a new trailer electric motorhome model. The model is lightweight and has both car design and structural characteristics. The company is one of the first motorhome experts to commercialize the trailer electric motorhome solution. Furthermore, the company expects to launch the first hybrid off-road trailer motorhomes and self-propelled motorhomes in Australia and New Zealand at the end of 2024, and eventually launch the company's motorhome series in the European and North American markets.

The company's customers mainly include dealers, through which the company sells motorhomes to end customers. Green RV was the company's largest customer for each year/period during the track record period. The company has established a dynamic and multi-faceted sales and distribution network by combining three different channels:

(i) A robust and extensive network of 13 third party dealers in Australia and New Zealand to increase the company's sales coverage and market penetration rate;

(ii) Two Australian self-operated stores and an online official website to ensure direct local business development, promote contact with customers, and gain valuable first-hand market insights;

and (iii) four joint ventures with the company's joint venture partners, enabling the company to expand its sales and distribution network while reducing significant indirect costs.

On the financial side, for the six months ended June 30 in 2021, 2022, 2023, and 2024, Singeo's revenue was approximately 0.3 billion yuan, 0.499 billion yuan, 0.72 billion yuan, and 0.422 billion yuan, respectively. In the same period, the company's sales costs were approximately 0.25 billion yuan, 0.417 billion yuan, 0.539 billion yuan, and 0.287 billion yuan, respectively.