TENCENT(HK:00700) Sou Hu Cai Jing·2025-08-26 07:55Core Viewpoint - The Hong Kong stock market's SaaS sector is experiencing significant growth, with companies like Xiaoe Inc. (小鹅通) planning to go public on the Hong Kong Stock Exchange, backed by major investors like Tencent [2][6]. Company Overview - Xiaoe Inc. was founded in February 2015 and entered the SaaS industry in 2016 with its e-commerce solutions [3]. - The company specializes in private domain operations, providing a comprehensive SaaS solution that integrates e-commerce, digital marketing, and CRM [3][4]. - Xiaoe Inc.'s platform allows clients to build and manage e-commerce stores with customizable features and a unified transaction management system [3]. Financial Performance - Xiaoe Inc. has shown substantial growth, with the total transaction value facilitated by its solutions projected to reach 10.441 billion RMB by mid-2025 [7][8]. - The company has achieved significant revenue growth, with projected revenues of 300 million RMB in 2022, 415 million RMB in 2023, and 521 million RMB in 2024 [8]. - The gross profit margins have also improved, with rates of 54.3% in 2022, 72.3% in 2023, and 74.8% in 2024 [8]. Investment and Valuation - Xiaoe Inc. has completed multiple funding rounds, with Tencent being the largest external investor, holding 16.82% of the company prior to the IPO [6][9]. - The company's post-money valuation reached 650 million USD (approximately 50.95 billion HKD) after its last funding round in 2021 [6]. Market Position - According to a report by ZhiShi Consulting, Xiaoe Inc. ranks first among interactive private domain operation solution providers in China based on revenue for 2024 [6]. - The company is recognized as the fastest-growing among the top five private domain operation solution providers from 2022 to 2024 [6]. Future Plans - Xiaoe Inc. plans to use the funds raised from the IPO to enhance R&D capabilities, strengthen sales and marketing efforts, expand globally, and for general corporate purposes [12].