一图解码：天九企服赴港IPO 聚焦企业资源共享服务 上半年利润大增

Core Viewpoint - Tianjiu Enterprise Service (天九企服) has submitted its prospectus to the Hong Kong Stock Exchange for a main board listing, aiming to enhance its business acceleration ecosystem and expand its customer base through the raised funds [2][4]. Company Overview - Tianjiu Enterprise Service is a leading enterprise resource sharing service platform in China and one of the earliest pioneers in the sector [2][5]. - The company focuses on accelerating the business development of innovative enterprises while assisting traditional enterprises in their transformation [2][5]. - According to Frost & Sullivan, Tianjiu is the largest enterprise resource sharing service provider in the Chinese market based on revenue projections for 2022, 2023, and 2024 [2][5]. Business Model and Services - Since 2014, Tianjiu has been providing business acceleration services, launching the Tianjiu Boss Cloud platform in 2017, which has evolved into a comprehensive service platform driven by big data analysis and AI applications [2][5]. - As of December 21, 2025, the platform has over 6.2 million registered users, significantly increasing from over 1 million in 2021 [6][8]. Financial Performance - For the six months ending June 30, 2025, Tianjiu reported revenue of approximately 725 million RMB, a year-on-year decrease of about 37.9%, while net profit reached approximately 2.508 billion RMB, a year-on-year increase of about 241.3% [3]. Fundraising Purpose - The net proceeds from the IPO are intended for enhancing the business acceleration ecosystem, strengthening marketing efforts, expanding customer coverage, improving the Tianjiu Boss Cloud platform, and enhancing AI and big data analysis capabilities [4]. Competitive Advantages - Tianjiu has established significant competitive advantages in the enterprise resource sharing industry through its unique business model, efficient resource sharing, and leading technology [17]. - The company employs a "cash + equity" fee structure that creates a win-win situation for both clients and itself [17].