Nan Fang Du Shi Bao·2025-12-03 09:49Core Viewpoint - The company, Vital Group, is preparing for an IPO to raise funds for enhancing R&D capabilities, expanding advanced technology applications, international expansion, and improving products [1] Group 1: Financial Performance - In 2024, Vital Group sold 33.9 million flight tickets and 94.5 million train tickets, with revenue increasing by 24.8% year-on-year to 351 million yuan, and net profit rising by 48.6% to 47 million yuan [1] - The company's revenue for 2022, 2023, and 2024 was 280 million yuan, 502 million yuan, and 647 million yuan respectively, with a compound annual growth rate of 52%, although revenue growth is slowing [8] - The company recorded a net loss of 758,000 yuan in 2022 but turned profitable in 2023 and 2024, with net profits of 59 million yuan and 51 million yuan respectively, a year-on-year decrease of 15.7% [8] Group 2: Market Position and User Base - As of June 30, 2025, Vital Group's services cover over 220 countries and regions, with more than 5,200 airports and over 3,500 domestic train stations, and a total of over 217 million registered users, a 56.5% increase since 2021 [4] - In 2024, the company ranked eighth in China's comprehensive internet travel service market with a market share of approximately 1.4%, while its flight booking platform ranked fifth with a 1.9% share and its train ticket platform ranked third with a 2.4% share [2] Group 3: Business Structure and Strategy - Vital Group's main business segments include travel-related services, online marketing services, and data and technology services, with travel-related services contributing over 80% of total revenue, although this proportion is declining [6] - The company plans to increase the application of AI in travel and expand globally, focusing initially on the Asian market before extending worldwide [8] - The company aims to enhance its overseas business strategy, with initial expansions in markets like Singapore, Japan, and South Korea, and has reported a repurchase rate of approximately 30% to 40% for its overseas platforms [8] Group 4: Ownership and Investment - Vital Group was founded in 2009 and has received at least five rounds of financing from various investors, including Sequoia Capital China and other notable firms [2] - The largest shareholder is the founder and CEO, Wang Jiang, who holds 16.79% of the shares, followed by co-founder Li Lijun with 15.99% [2]