Futu Information June 8 message, Integrated Digital solution Integration platform$still multiplier Section (HKD.US) $Hot subscription has begun, which will close at 19:00 on June 14 and is expected to be officially listed on the New York Stock Exchange on June 15. The IPO underwriters include AMTD International, Lutong Finance, Maxim and so on.

According to the latest prospectus, Shang Cheng DivisionIt is planned to issue 16 million American depositary shares (ADS) in this IPO, with every 5 American depositary receipts representing 2 Class A common shares with an issue range of US $6.80-8.20 per ADS.

Shangcheng Division is one of the most comprehensive digital platforms in Asia, its business spans a number of vertical areas, including digital financial licensing and services, digital media marketing and data intelligent analysis, digital network construction and collaboration, and digital economy investment.

Shangcheng Mathematics is a subsidiary of Shangcheng Group. Shangcheng Group is the largest private independent investment bank in Asia, as well as one of Hong Kong's leading integrated financial institutions and one of the largest independent non-bank asset managers and insurance brokers. Its subordinate$AMTD International (HKIB.US) $It is one of the largest independent asset managers in Asia and the first company to list in the United States and Singapore at the same time.

As the core engine of the cobweb ecosystem (AMTD SpiderNet), Shang Cheng enjoys the resource link and empowerment of Shang Cheng, which is conducive to the better completion of the integration of digital finance and other license services. The company has a rare digital financial license covering many countries and regions in Asia.Companies and consumers in Asia provide one-stop digital financial services.

Among them, Shangcheng and XIAOMI co-founded Star Bank is one of the eight virtual banks approved by the Hong Kong Monetary Authority. Shangsheng Insurance Brokerage, founded in 2003 by the former Cheung Kong Group and Hutchison Whampoa, is the largest enterprise insurance broker and risk solution provider in Hong Kong.

The company has also acquired PolicyPal, the first digital insurance brokerage company successfully incubated by sandboxie under the supervision of the Singapore Monetary Authority. At the same time, Shangcheng will also adopt the "fusion fusion" strategy, with the goal of acquiring leading financial technology companies and building bridges to connect high-value cross-regional digital financial licenses.

The investment layout of Shang Cheng Mathematical Division in the digital economy has gradually taken shape, including early investment in Internet medical platform Micromedicine and artificial intelligence company Appier, as well as investments to support female entrepreneurs in the development of the digital economy, including food network information multimedia service platform founded by Hong Kong Ms. Zhu Jiaying, Daily Cooking, and Forkast founded by former Bloomberg TV chief anchor Ms. Liu Yazhi.

Shang Cheng Division focuses on investing in technology enterprises with high growth potential in the field of digital technology, docking the cobweb ecosystem with global influence, in order to promote resource information sharing and collaborative development. Investment companies include digital medical service platforms-micro medicine, artificial intelligence technology companies-Appier, financial technology enterprises-ASEAN Solidarity Fund, and so on.

In addition, the company invests in the development of multimedia channels and content to create an one-stop content library and online media platform for customers, such as news reports, network seminars, digital movies, podcasts, live videos and so on.

In terms of financial position, the revenue of the Division in fiscal year 2019 and fiscal year 2020 was HK $14.55 million and HK $167 million respectively (from May 1 to April 30 of the previous year was the company's fiscal year); as of January 31, 2021, revenue for the first nine months of the 2021 fiscal year was HK $145 million (about US $18.77 million), compared with HK $134 million in the same period last year.

The profits of the Division in fiscal year 2019 and fiscal year 2020 were HK $21.54 million and HK $158 million respectively. As of January 31, 2021, the profit of the Division in the first nine months of fiscal year 2021 was HK $110 million, compared with HK $91.73 million in the same period last year.

In terms of industry, the market size of digital payment industry in ASEAN countries has a compound annual growth rate of 219.1% from 2017 to 2019. It is expected to grow further at a compound annual growth rate of 43.7% from 2019 to 2024, reaching US $39.4 billion (by transaction volume) by 2024.

According to the prospectus, Shangcheng's controlling shareholders are Shangcheng Group, Huili, Asia's largest independent asset manager, and 500Startups, a venture capital and private equity firm founded by former BABA CEO Wei Zhe.

In terms of fund-raising purposes, the company plans to use the net proceeds from the issue to meet future license applications, acquisitions, IT infrastructure and human resources capital needs.