企查查招股书挂网前被央行处罚 用户活跃度降诉讼缠身

Core Viewpoint - Qichacha Technology Co., Ltd. has submitted its prospectus for an initial public offering (IPO) on the Shanghai Stock Exchange, aiming to raise approximately RMB 150 million for various big data product development projects [1][2]. Financial Performance - The company reported revenues of RMB 51.85 million, RMB 61.83 million, RMB 70.84 million, and RMB 37.54 million for the years 2022, 2023, 2024, and the first half of 2025, respectively [3][4]. - Net profits for the same periods were RMB 19.04 million, RMB 25.88 million, RMB 31.74 million, and RMB 17.15 million, with net profits attributable to the parent company after deducting non-recurring gains and losses being RMB 16.23 million, RMB 22.94 million, RMB 29.77 million, and RMB 16.10 million [3][4]. User Engagement - The average monthly active users (MAU) decreased from 64.68 million in 2022 to 80.11 million in the first half of 2025, with the proportion of active users dropping from 73.32% to 53.13% of total registered users [5]. - The number of paying users declined, with 406,100 and 529,000 users stopping their subscriptions in 2023 and 2024, respectively [5]. Shareholder Structure - The controlling shareholder of Qichacha is Chen Deqiang, who holds 35.49% of the shares directly and controls an additional 17.50% indirectly, totaling 53.00% [3]. Fundraising Allocation - The funds raised from the IPO will be allocated to four main projects: 1. C-end big data product development (RMB 45.82 million) 2. B-end big data product development (RMB 17.11 million) 3. Multi-dimensional database upgrade (RMB 36.78 million) 4. AI research and development for big data (RMB 50.31 million) [2]. Legal Issues - Qichacha has faced multiple lawsuits related to its credit reporting business, with 94 cases currently involving the company as a defendant [10]. - The company was fined RMB 10,000 by the People's Bank of China for violating credit business management regulations [12][13]. Underwriter Information - The lead underwriter for the IPO is CITIC Securities Co., Ltd., with representatives Wang Jiayu and Lu Lijun [6]. - CITIC Investment, a subsidiary of CITIC Securities, holds a 0.62% stake in Qichacha, raising questions about potential conflicts of interest [7]. Shareholder Transactions - The second-largest shareholder, Wind Information, transferred shares prior to the IPO, indicating a partial cash-out of their investment [8][9].