优乐赛再度递表港交所 为中国汽车共享运营服务市场最大提供商
Zhi Tong Cai Jing·2025-06-15 08:15

Core Viewpoint - Suzhou Youlesai Shared Services Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with CITIC Securities International as the sole sponsor and DBS Group as the financial advisor [1] Company Overview - Youlesai is a Chinese provider of circular packaging services, primarily focusing on the automotive industry, offering shared operational services, leasing services, and other value-added services to automotive parts manufacturers and OEMs [3] - The company is the second-largest provider of circular packaging services in China and the largest provider in the automotive shared operational services market, according to Frost & Sullivan [3] Market Insights - The logistics packaging industry in China is transitioning from single-use packaging to circular packaging to meet growing sustainability demands and support ESG initiatives [3] - The overall logistics packaging solutions market in China is projected to reach USD 118.7 billion in 2024, with logistics container sales accounting for 93.6% of the market [3] - The market is highly fragmented, with over 3,500 participants, where the top five players account for only 4.7% of total revenue, and the largest player holds a mere 1.5% market share [3] Business Model - The core of Youlesai's business is its integrated container management, with shared operational services being a key component aimed at enhancing logistics efficiency and reducing packaging costs while achieving green economy and ESG goals [4] - The company operates two main business segments: integrated container management and container sales, with most revenue derived from shared operational services under integrated container management [4] Financial Performance - For the fiscal years 2022, 2023, and 2024, Youlesai reported revenues of approximately RMB 648 million, RMB 794 million, and RMB 838 million, respectively [4][6] - The net profits for the same periods were RMB 31.2 million, RMB 64.1 million, and RMB 50.7 million, respectively [4][6]