深圳杀出超级独角兽：80后小哥卖私域工具，年入5亿全国第一

Core Insights - Xiao E Tong, a leading player in the private domain SaaS market, is preparing for an IPO on the Hong Kong Stock Exchange, highlighting its significant market position and growth potential in the interactive private domain operation sector [1][3][18]. Company Overview - Founded by Bao Chun Jian, Xiao E Tong specializes in private domain SaaS solutions, helping businesses manage their own customer relationships and marketing efforts without relying solely on external traffic platforms [4][6]. - The company’s primary offerings include e-commerce, digital marketing, and CRM modules, which cater to a diverse clientele ranging from internet-native e-commerce businesses to traditional retailers [10][11]. Financial Performance - Xiao E Tong's revenue has shown substantial growth, with total revenues projected to reach 521 million RMB in 2024, reflecting a compound annual growth rate (CAGR) of 32% from 2022 to 2024 [11][12]. - The majority of revenue comes from SaaS subscription fees, which are expected to account for 99% of total revenue in 2024 [12]. Market Position - The company holds a 10% market share in China's interactive private domain operation solutions market, positioning it as the market leader [1][18]. - The private domain operation market is projected to grow from 11.9 billion RMB in 2024 to 25.8 billion RMB by 2029, with a CAGR of 16.7% [17]. Customer Base and Growth - Xiao E Tong has a low customer concentration, with the top five customers contributing only 1.7% to 2.7% of total revenue from 2022 to 2025 [14]. - The number of key customers, defined as those contributing over 30,000 RMB annually, has surged from 266 in 2022 to 1,421 in 2024, indicating strong growth in this segment [16]. Industry Opportunities - The company is poised to capitalize on three major opportunities in the market: 1. Full-channel integration, enabling seamless online and offline experiences for consumers [19]. 2. Evolution of interaction technology, shifting from "people finding content" to "content finding people," enhancing brand-consumer engagement [20]. 3. Empowerment through artificial intelligence, allowing small businesses to operate with professional-grade tools without needing extensive technical expertise [21].