Core Viewpoint - Li Shufu has expanded his capital empire with the recent IPO of Cao Cao Travel, marking his 10th listed company and solidifying his position as the leader of the most listed companies among domestic automakers [2][5][12]. Company Overview - Cao Cao Travel has successfully listed on the Hong Kong Stock Exchange under the stock code 02643.HK, with an initial offering price of HKD 41.94 per share. However, the stock price fell significantly on its debut, closing at HKD 36.00, a drop of over 14.16% [2][3]. - As of June 30, the market capitalization of Cao Cao Travel stands at HKD 19.56 billion, which is significantly higher than its competitors, such as Ruqi and Dida, whose market caps are HKD 2.037 billion and HKD 1.151 billion, respectively [6][10]. Financial Performance - The prospectus indicates that Cao Cao Travel has completed three rounds of equity financing before its listing, raising over RMB 2.8 billion [5][8]. - From 2021 to 2024, the company is projected to incur cumulative operating losses of RMB 8.241 billion, while revenues are expected to grow from RMB 7.153 billion in 2021 to RMB 14.7 billion in 2024, representing a 109% increase [10][11]. - Despite not being profitable yet, the company's losses are narrowing, with the average monthly net loss since 2021 being approximately RMB 147 million [11][10]. Shareholding Structure - The largest shareholder of Cao Cao Travel's parent company, Hangzhou Youxing Technology Co., Ltd., is Zhejiang Jidi Technology Co., Ltd., holding 69.927% of the shares. Li Shufu is the ultimate beneficiary of this company, controlling 91% of the shares through various entities [8][9]. Comparison with Competitors - Li Shufu's business empire is often compared to that of Lei Jun, with discussions around who has a stronger commercial footprint. While Li Shufu has 10 listed companies, Lei Jun has only 4, but his company Xiaomi has seen significant stock price appreciation [18][21]. - As of June 30, Li Shufu's ten listed companies have a total market capitalization of approximately RMB 699 billion, with notable increases in value for most of these companies compared to the previous year [12][14].
李书福收获第10个IPO，总市值6990亿超过雷军了吗？