Futu News, December 16, this Wednesday.$Qingke start-up (01945.HK) $According to the announcement, the company plans to issue 40 million shares from December 16 to 21, including 4 million shares for public offering and 36 million shares for international offering at an issue price of HK $9 to HK $11 per share.

It is reported that Qingke Entrepreneurship is an one-stop equity investment service provider, which covers four major Internet platforms: private equity, investment community, sand dune university and project workshop, and provides comprehensive products through online and offline channels. Provide a wide range of services for all participants in the equity investment industry (including investors, entrepreneurs, growth enterprises and government agencies).

According to the cautionary report, Qingke Entrepreneurship is China's largest integrated equity investment service platform by 2019 revenue; as of December 31, 2019, the company's private offering is China's largest equity investment database.

In terms of financial data, the company's total income from fiscal year 2017 to fiscal year 2019 was 129 million yuan, 164 million yuan and 167 million yuan respectively, with an annual compound growth rate of 13.78%, and net profit of 18.413 million yuan, 27.161 million yuan and 34.525 million yuan respectively, with an annual compound growth rate of 36.93%.

In terms of industry, the market size of China's equity investment industry has experienced fluctuations in the past five years, with a compound annual growth rate of-5.1% from 2015 to 2019, and is expected to decline further due to the outbreak of COVID-19 in 2020.

However, driven by sustained economic development and transformation, policy support and the growing willingness of strategic and institutional investors to invest, China's equity investment industry is expected to recover in 2021, and the market size is expected to grow at a compound annual growth rate of 9.3% from 2019 to 2024 to 1.73 trillion yuan in 2024.

As for cornerstone investors, several cornerstone investors, including Hillhouse Capital, agreed to subscribe for the number of offering shares available for subscription at the offering price, totaling about US $24.4 million.

In terms of fund-raising purposes, the company intends to use the net proceeds from the share sale for the following purposes: about 39.4% will be used to expand the company's geographical coverage in China, and about 9.8% will be used to improve the supply of offline services and integrate offline business according to the trend of the industry. about 5.8% will be used to upgrade online platforms and enrich online services.

About 9.9% may be used to strengthen the company's sales and marketing efforts, about 5.6% will be used to expand the scale of the company's services, about 20.0% will be used to selectively seek investment and acquisition opportunities, and about 9.5% will be used for additional working capital and other general corporate purposes.