米多多赴港IPO，为跨境电商服务供应商，净利润连续两年亏损

Core Viewpoint - The article discusses the increasing trend of Chinese companies expanding into overseas markets, highlighting the role of marketing services providers like Midoor in facilitating this process through localized content and data-driven optimization [1][17]. Company Overview - Midoor Group Co., Ltd. is positioned as the fifth largest cross-border e-commerce service provider in China, focusing on developing digital solutions for clients to reach overseas consumers via platforms like Google, TikTok, Meta, and Amazon [1][4]. - The company has three main business segments: overseas marketing services, overseas e-commerce operations, and digital exhibition services, with overseas marketing services contributing over 98% of its revenue during the reporting period [4][9]. Financial Performance - Midoor's revenue has shown growth, with figures of approximately $65.17 million in 2022, $70.85 million in 2023, and projected revenues of $71.13 million for 2024 and $55.78 million for the first half of 2025. However, the company has reported net losses for two consecutive years [9][10]. - The adjusted net profit figures for the same periods were $164.1 million in 2022, -$1.64 million in 2023, -$0.16 million in 2024, and -$1.99 million in the first half of 2025 [9][10]. Market Dynamics - The cross-border e-commerce marketing services market in China is expected to grow significantly, with a projected market size of $36.3 billion in 2024, expanding to $73.7 billion by 2029, reflecting a compound annual growth rate of 15.2% [10][11]. - Midoor's market share is relatively small at 0.5%, with the top five market participants holding approximately 36.5% of the market share in 2024 [14][16]. Business Strategy - Midoor aims to raise funds through its IPO to expand its global business coverage, focusing on localized marketing services, developing overseas e-commerce operations, and investing in marketing-related technology [19]. - The company has established a strong understanding of overseas platform rules and user behavior, which helps reduce trial-and-error costs for its clients [19].