Zheng Quan Shi Bao Wang·2025-10-09 00:34Group 1 - The core point of the article is that BoChe Network has submitted a listing application to the Hong Kong Stock Exchange, with CITIC Securities and Fosun International Capital acting as joint sponsors [1] Group 2 - According to ZhiShi Consulting data, by 2024, BoChe Network ranks first in China's accident vehicle auction market with a market share of approximately 31.4% [2] - The company utilizes a combination of online and offline auction models to connect accident vehicle sources (mainly insurance companies) with buyers (primarily certified repair shops and licensed dismantling factories) [2] - BoChe Network is also the third-largest B2B used car auction platform in China, with a market share of about 12.0% in auction volume for 2024 [2] Group 3 - The volume of accident vehicle auctions in China has increased from approximately 205,000 units in 2020 to 373,000 units in 2024 [2] - In comparison, the auction volume of accident vehicles in the United States is nearly 7 million units in 2024, about 20 times that of China, despite similar vehicle ownership levels [2] - This indicates significant growth potential for China's accident vehicle auction industry, driven by factors such as increasing vehicle ownership, rising repair costs, the prevalence of new energy vehicles leading to higher claims frequency, direct consumer engagement by insurance companies, rising labor costs, and increased insurance awareness [2]