两度冲刺创业板折戟 科拓股份第二次递表港交所

Core Viewpoint - Keta Co., Ltd., China's second-largest smart parking space operator, has submitted its fourth IPO application to the Hong Kong Stock Exchange after previous attempts in 2017, 2021, and a failed submission in April 2025 [1][3]. Group 1: Company Overview - Keta Co., Ltd. was established in 2006 and ranks second in China's smart parking space operation industry, holding a market share of 3.3% as of 2024 [2]. - As of June 30, 2025, Keta operates 19,341 parking lots, with a total of over 68,000 parking projects served globally, covering 60 countries and regions [2][4]. - The company reported an average of 2.1 million temporary parking orders per day in 2024, generating an annual transaction volume exceeding 7.5 billion yuan [2]. Group 2: Financial Performance - Keta's revenue for 2022, 2023, and 2024 was approximately 649 million yuan, 738 million yuan, and 800 million yuan, respectively, with gross margins of about 43.07%, 46.44%, and 45.89% [4]. - The net profit for 2022 was 12.3 million yuan, which increased to 87 million yuan in 2023, but remained stable at 86.7 million yuan in 2024 [4]. - In the first half of 2025, Keta reported revenue of 379 million yuan and a net profit of 25.9 million yuan, reflecting an 18% year-on-year decline in net profit compared to the same period in 2024 [4]. Group 3: Competitive Advantage - Keta's core competitiveness stems from its early technological advancements, including the introduction of a video-based cardless payment system in 2012 and a partnership with Tencent in 2014 to launch a mobile internet application for parking [3]. - The smart parking system contributes over 60% of Keta's revenue, encompassing a full range of technological solutions such as license plate recognition and seamless payment [4]. Group 4: IPO and Fund Utilization - The funds raised from the IPO will primarily focus on three areas: enhancing technology research and development, expanding market presence in southeastern coastal regions, and exploring global expansion opportunities [7]. - Keta has successfully localized its license plate recognition and electronic payment systems in key overseas markets, indicating the feasibility of its international expansion plans [7].