公司是中国循环包装服务提供商，主要专注于为汽车行业内的汽车零部件制造商及OEM提供服务。公 司主要提供共享运营，这是一种共用模式，根据这一模式，公司为客户管理托盘、板条箱或容器等循环 包装，代表客户处理循环包装的储存以及配送及退货（主要通过分包的第三方物流服务提供商进行）、 清洁和维护。 优乐赛共享（02649）于2026年2月27日至2026年3月4日招股，公司拟全球发售2033.6万股H股，其中， 香港发售占10%，国际发售占90%，另有超额配股权15%。最高发售价（可作出发售价下调）每股14港 元，每手500股，预期H股将于2026年3月9日（星期一）上午九时正开始在联交所买卖。 根据弗若斯特沙利文的资料，按2024年收入计，公司是中国循环包装服务第二大提供商，市场份额为 1.5%且是中国汽车共享运营服务市场的最大提供商，市场份额为8.2%。于2024年，循环包装服务、共 享运营服务及汽车共享运营服务分别占中国整体物流包装解决方案市场的6.4%、2.4%及1.0%。 公司于往绩记录期经历稳定增长。公司的收入由截至2022年12月31日止年度的人民币6.48亿元增加至截 至2023年12月31日止年度的人 ...

来源：活报告 2026年2月24日，优乐赛通过港交所聆讯，拟在香港主板上市，独家保荐人为中信建投国际。 公司是中国循环包装服务提供商，2024年收入8.38亿元，净利润0.51亿元，毛利率21.98%。2025年前8 月收入5.33亿元，净利润0.27亿元，毛利率20.85%。2025年前8月公司收入与毛利增长稳健。 LiveReport获悉，优乐赛是中国循环包装服务提供商，主要专注于为汽车行业内的汽车零部件制造商及 OEM提供服务。 公司主要提供共享运营，这是一种共享模式，根据这一模式，公司为客户管理托盘、板条箱或容器等循 环包装，代表客户处理循环包装的储存以及配送及退货（主要通过分包的第三方物流服务提供商进 行）、清洁和维护。除了共享运营，公司还为倾向于自主管理循环包装的客户提供租赁服务、提供仓储 管理和客户自有容器管理等增值服务、同时也将容器出售予可独立管理容器的客户。 （3）其他增值服务：公司的其他增值服务包括但不限于物流运输、仓储管理、客户自有容器管理及该 等服务的任意组合，为客户提供全面的解决方案。 容器销售：公司的容器销售业务以具有物流能力和采购需求的客户为目标，直接向彼等供应公司的产 品，当中 ...

Core Viewpoint - Suzhou Youlesai Shared Service Co., Ltd. has submitted its listing application to the Hong Kong Stock Exchange for the third time, following previous submissions that expired due to the expiration of application materials [1] Group 1: Company Overview - Youlesai, established in 2016, is a leading integrated circular packaging service provider in China, primarily serving the automotive industry [2] - According to Frost & Sullivan, Youlesai ranks as the second-largest provider of circular packaging services in China and the largest provider in the automotive shared operation service market, with market shares of 6.4%, 2.4%, and 1% in circular packaging services, shared operation services, and automotive shared operation services, respectively, based on 2024 revenue [2] Group 2: Financial Performance - The company's revenue for the years 2022, 2023, 2024, and the first eight months of 2025 were 648 million, 794 million, 838 million, and 533 million yuan, respectively, with gross profits of 127 million, 170 million, 184 million, and 111 million yuan [2] - Net profits for the same periods were 31.21 million, 64.14 million, 50.74 million, and 26.89 million yuan, with gross profit margins of 19.7%, 21.4%, 22%, and 20.8% [2] - Accounts receivable and notes receivable were 311 million, 361 million, 382 million, and 325 million yuan for the respective years, with turnover days of 168.3, 159.9, 167.9, and 167.8 days [2] Group 3: Compliance Issues - The company has highlighted that it has not fully paid social insurance and housing provident fund for some employees, with cumulative unpaid amounts of 3.1 million, 2.8 million, 2.2 million, and 2.5 million yuan for the years 2022, 2023, 2024, and the first eight months of 2025 [3] Group 4: Market Competition - The logistics packaging solution market in China is highly competitive, with over 3,500 companies, and the market size is projected to reach 118.7 billion USD in 2024 [4] - The top five players in the market hold only 4.7% of the market share, with the largest player having a market share of 1.5% [4] - Youlesai's customer retention rates have declined significantly, from 75.8% in 2022 to 64.9% in the first eight months of 2025, indicating increasing competition [5]

Group 1 - The core viewpoint of the article is that Suzhou Youlesai Shared Services Co., Ltd. (Youlesai) submitted its Hong Kong IPO prospectus on June 13, which has now expired after six months [1] - Youlesai is identified as a leading provider of circular packaging services in China, focusing on the automotive industry, specifically serving auto parts manufacturers and OEMs [2] - According to Frost & Sullivan, Youlesai ranks as the second largest provider of circular packaging services in China and the largest provider in the automotive shared operation services market as of 2024 [2] Group 2 - In 2024, circular packaging services, shared operation services, and automotive shared operation services are projected to account for 6.4%, 2.4%, and 1.0% of China's overall logistics packaging solutions market, respectively [2]