聚水潭更新招股书：中国最大的电商SaaS ERP提供商，2024年实现全面盈利

Core Viewpoint - JuShuiTan has achieved profitability four years ahead of the average SaaS industry timeline, which typically takes 15 years to reach profitability, marking a significant milestone for the company [7]. Group 1: Company Overview - JuShuiTan Group Co., Ltd. was established in 2014 and is advancing its IPO process on the Hong Kong Stock Exchange with CICC and JPMorgan as joint sponsors [2]. - The company offers a comprehensive suite of SaaS products and services aimed at enhancing business capabilities and performance for clients while significantly reducing deployment and operational costs [2]. Group 2: Product and Market Position - JuShuiTan's core SaaS product is its ERP system, which addresses key e-commerce order management needs for merchants on major platforms, including OMS, WMS, PMS, and DMS [4]. - The ERP has become the most popular e-commerce SaaS ERP brand among Chinese merchants, with a growing range of additional e-commerce operational SaaS products launched [4]. - From 2022 to 2024, customers purchasing two or more JuShuiTan products contributed 30.6%, 33.0%, and 37.7% to total SaaS revenue, respectively [4]. Group 3: Market Strategy and Growth - JuShuiTan is strategically positioned to support small and medium-sized enterprises (SMEs) in navigating the complexities of digital transformation amidst a challenging foreign trade environment [5]. - The company is actively exploring cross-border business opportunities while contributing to domestic market stability, which is expected to expand its market space [5]. Group 4: Financial Performance - JuShuiTan is projected to be the largest e-commerce SaaS ERP provider in China by 2024, holding a market share of 24.4%, surpassing the combined share of the next five competitors [5][6]. - The company reported revenues of 523 million yuan, 697 million yuan, and 910 million yuan from 2022 to 2024, with a compound annual growth rate (CAGR) of 31.9% [6]. - The gross margin has shown a consistent upward trend, increasing from 52.3% in 2022 to 68.5% in 2024 [6]. - By 2024, JuShuiTan achieved an adjusted net profit of 48.99 million yuan and a net customer revenue retention rate of 115% [6][7]. Group 5: Future Plans - The funds raised from the IPO will primarily be used to enhance research and development capabilities, strengthen sales and marketing efforts, seek strategic investments, and support general corporate purposes [7].