On September 2nd, it was reported that $HIVE BOX HOLDINGS LIMITED (810637.HK)$ submitted an IPO application to the Hong Kong Stock Exchange on August 30th, with Huatai International as the exclusive sponsor.

According to the prospectus, based on the information from Zhuoshi Consulting, Fengchao is the leading end-to-end logistics solutions provider in China and globally. In terms of 2023 revenue, it is the largest end-to-end logistics solutions provider in China, and in terms of the number of lockers as of December 31, 2023, and the volume of parcels in 2023, it is the largest intelligent express cabinet network operator in the world.

With a strong business model, Fengchao has become an innovative benchmark in the end-to-end logistics field. Fengchao drives the transformation of end-to-end logistics through its Fengchao intelligent cabinet network, supporting the emerging e-commerce industry and improving overall logistics efficiency.

Specifically, Fengchao's Fengchao intelligent cabinet network provides a safe and convenient hub for parcel delivery and pick-up, building the foundation for nationwide express end distribution services, and fundamentally changing the final stage of parcel delivery. In addition, with the rise of the new trend in the e-commerce industry, Fengchao keenly identifies and captures the huge market opportunity of reverse logistics, strategically expanding consumer smart delivery services through the Fengchao intelligent cabinet network.

Fengchao also leverages the increasing influence of its Fengchao intelligent cabinet network operation in community scenarios to expand multi-scene value-added services, such as interactive media services, cleaning services, and home life services.

As of May 31, 2024, Fengchao has provided services to 0.368 billion consumers and 35 million couriers. During the historical period, the number of parcels delivered by Fengchao's express end distribution services has shown a stable growth trend: 6.204 billion parcels in 2021, 5.823 billion parcels in 2022, and 6.463 billion parcels in 2023.

In terms of finances, for the fiscal years 2021, 2022, 2023, and the five months ended May 31, 2024, Fengchao achieved revenues of approximately 25.26 million yuan, 2.891 billion yuan, 3.812 billion yuan, and 1.904 billion yuan respectively. The profits for the respective periods were approximately -2.071 billion yuan, -1.166 billion yuan, -0.541 billion yuan, and 71.602 million yuan.

Editor/Danial