纪源资本吴陈尧：坚定看好聚水潭，中国企业服务行业有着被低估的市场潜力

Core Viewpoint - Jushuitan Group Co., Ltd. officially listed on the Hong Kong Stock Exchange on October 21, 2025, under the stock code "6687" and has become the largest e-commerce SaaS ERP provider in China, holding a 24.4% market share, surpassing the combined market share of the second to fifth largest competitors [2]. Investment and Market Position - Jushuitan has received investments from notable institutions such as GGV Capital, Sequoia China, and Yuanjing Capital, with GGV Capital increasing its stake during the IPO as a cornerstone investor, reflecting confidence in Jushuitan and the SaaS industry [2]. - The SaaS market in China is seen as undervalued, with significant growth potential, as highlighted by the investment interest from seasoned investors [5][6]. Leadership and Company Culture - The founder and CEO of Jushuitan, Luo Haidong, is recognized for his deep industry experience and a continuous learning mindset, which has instilled confidence in investors [4][7]. - The company maintains a balance between entrepreneurial spirit and professional management, which has minimized execution errors and enhanced operational stability [9][10]. Market Dynamics and Challenges - The SaaS industry is characterized by a lack of a single winning strategy, with success stemming from consistently executing various aspects correctly [9]. - Jushuitan's ability to maintain system stability during peak sales events is crucial, as any downtime can lead to significant losses for e-commerce clients [10]. Future Prospects - Jushuitan is expected to explore deeper involvement in logistics, information flow, and financial flow, as well as potential mergers and acquisitions in the SaaS space [14]. - The company is also looking to expand into international markets and leverage AI advancements to enhance product efficiency and reduce operational costs [15]. Industry Evolution - The SaaS market is maturing, with companies that survive the competitive landscape either holding a leading position or employing rational competition strategies [10][12]. - The IPO of Jushuitan serves as a beacon for other companies in the industry, demonstrating a viable path to proving value in the market [20].