松果出行赴港IPO，近三年亏损超4亿元

Core Viewpoint - Songguo Travel, a leading shared electric bike service provider in China, has submitted its IPO application to the Hong Kong Stock Exchange, aiming to raise funds for expansion and technological development while reporting significant losses over the past three years [1][2]. Group 1: Company Overview - Songguo Travel is recognized as the largest shared electric bike operator in China's peripheral development areas and ranks fourth in the overall market [1]. - As of September 30, 2025, the company has deployed 454,627 shared electric bikes across 422 cities and counties in China [1]. - The registered user base has grown from 99 million at the end of 2023 to 128 million by September 30, 2025 [1]. Group 2: Financial Performance - The company's revenue for the years 2023, 2024, and the first three quarters of 2025 was reported at 953 million, 963 million, and 746 million yuan respectively [1]. - The losses for the same periods were 192 million, 151 million, and 60 million yuan, totaling over 400 million yuan in losses over the last three years [1]. Group 3: IPO Fund Utilization - The funds raised from the IPO will be used to expand regional coverage and deepen market penetration [2]. - Investment will also be directed towards research and development, including artificial intelligence and big data analysis [2]. - The company plans to allocate funds for commercializing electric bike sales, exploring overseas expansion opportunities, and seeking strategic investments and acquisitions [2].