新股消息 | 二手手机回收服务提供商闪回科技三次递表港交所 上半年亏损2463.3万元

Core Insights - Flashback Technology is a Chinese company specializing in the recycling of consumer electronics, particularly second-hand mobile phones, and is the third-largest mobile phone recycling service provider in China with a market share of approximately 1.3% for both total transaction value and sales of second-hand mobile phones [2][5]. Company Overview - The company operates two main brands: Flashback Recycling, which focuses on offline recycling through upstream procurement partners, and Flashback Youpin, which sells procured second-hand consumer electronics through its online platform and third-party e-commerce platforms [3][5]. - Flashback Technology sources second-hand consumer electronics primarily through trade-in transactions, where consumers exchange their old devices for discounts on new products [2][5]. Market Potential - Despite facing intense competition in China, the company anticipates significant growth potential in the mobile phone recycling industry, with the recycling rate expected to continue increasing from approximately 10% in 2020 to an estimated 17.1% in 2024, compared to 55% to 75% in developed countries like the US and Japan [5]. Financial Performance - The company reported revenues of approximately RMB 750 million, RMB 919 million, RMB 1.16 billion, and RMB 1.30 billion for the years 2021, 2022, 2023, and 2024 respectively, with a loss of RMB 48.7 million, RMB 99.1 million, RMB 98.3 million, and RMB 66.4 million for the same years [5][6]. - For the six months ending June 30, 2024, the company achieved revenue of approximately RMB 577 million and incurred a loss of RMB 40.1 million [6].