新股消息 | 博车网二度递表港交所 2024年国内事故车拍卖市场份额超30%

Core Viewpoint - Boche Holding Limited (博车网) has submitted its application for listing on the Hong Kong Stock Exchange, with CITIC Securities and Fosun International Capital as joint sponsors. The company is the largest accident vehicle auction platform in China, holding a significant market share in the industry [1][3]. Company Overview - Boche Holding Limited operates as a mediator connecting upstream accident vehicle sources (mainly insurance companies) with downstream buyers (certified repair shops and licensed dismantling factories) [3]. - The company ranks first in the Chinese accident vehicle auction industry with a market share of approximately 31.4% based on projected transaction volume for 2024 [3]. - Additionally, Boche is the third-largest B2B used car auction platform in China, with a market share of about 12.0% [3]. Industry Insights - The auction volume of accident vehicles in China is projected to grow from approximately 205,000 vehicles in 2020 to 373,000 vehicles in 2024, indicating significant growth potential compared to the U.S., which has an auction volume of nearly 7 million vehicles in 2024 [4]. - Factors driving growth in the accident vehicle auction industry include aging vehicle ownership, rising repair costs, increased frequency of claims due to the proliferation of new energy vehicles, and heightened insurance awareness [4]. Financial Performance - For the fiscal years ending July 31, the revenue figures for Boche Holding Limited are as follows: approximately RMB 388.11 million in 2022, RMB 518.33 million in 2023, RMB 526.07 million in 2024, and RMB 290.45 million in 2025 (for the first seven months) [5][7]. - The company reported losses of approximately RMB 180.25 million in 2022, RMB 121.47 million in 2023, RMB 36.44 million in 2024, and RMB 55.60 million in 2025 (for the first seven months) [5][7].