Core Viewpoint - Qichacha Technology Co., Ltd. is seeking to go public on the Shanghai Stock Exchange, aiming to raise 1.5 billion yuan, marking its official entry into the A-share market [2][3]. Company Overview - Qichacha is a leading provider of comprehensive commercial big data services in China, focusing on delivering accurate and efficient business data services to help users understand various commercial entities' credit, risks, opportunities, and information [3][4]. - As of June 2025, Qichacha has accumulated over 150 million registered users, indicating its growing popularity as an essential app for users [2][3]. Financial Performance - The company reported revenues of approximately 5.18 billion yuan, 6.18 billion yuan, 7.08 billion yuan, and 3.75 billion yuan for the years 2022 to 2025 (first half), with corresponding net profits of about 1.9 billion yuan, 2.59 billion yuan, 3.17 billion yuan, and 1.72 billion yuan [4]. - Qichacha's gross profit margins have consistently remained high, with figures of 87.24%, 88.51%, 88.81%, and 90.74% during the reporting periods [6]. User and Revenue Composition - Over 70% of Qichacha's revenue comes from C-end (consumer) clients, with C-end business revenues of 4.12 billion yuan, 4.88 billion yuan, 5.44 billion yuan, and 2.86 billion yuan, representing 79.51%, 78.89%, 76.87%, and 76.11% of total revenue respectively [8]. - The company's membership products, including VIP and SVIP memberships, are the primary revenue drivers, accounting for a significant portion of the total income [9][10]. Competitive Landscape - Qichacha competes with other notable brands in the commercial big data service sector, such as Tianyancha, Qixinbao, and Aiqichacha, with the latter's parent company already listed on the STAR Market [4][5]. - Internationally, Qichacha faces competition from established firms like Dun & Bradstreet, IHS Markit, and Moody's, which have built strong brand advantages in enterprise-level commercial data services [4]. Future Prospects - The IPO is expected to enhance Qichacha's brand recognition and market acceptance of its products, while also providing opportunities for strategic mergers and acquisitions to strengthen its business layout in the commercial big data service industry [5].

Core Viewpoint - Qichacha Technology Co., Ltd. has been accepted for an IPO on the Shanghai Stock Exchange, aiming to raise 1.5 billion yuan, highlighting its position as a leading player in the commercial big data service industry in China [1][2]. Group 1: Company Overview - Qichacha, established in 2014, specializes in the collection, cleaning, mining, and analysis of commercial big data, becoming a key player in China's big data industry and digital economy development [1]. - The company's products serve various business scenarios, including commercial transactions, risk management, financial services, and legal affairs, enhancing information accessibility for individual users and decision-making efficiency for enterprise users [1]. Group 2: Market Position - According to the "China Commercial Big Data Service Industry Blue Book" and QuestMobile data, Qichacha ranks second in market share and active mobile users among general commercial big data service providers in China for 2023, while holding the top position in mobile app downloads [1]. Group 3: Fundraising and Investment Plans - The funds raised will be invested in enhancing the performance of C-end membership products and B-end professional versions, as well as data interface services, through increased equipment, technical talent, and cloud resources [2]. - Continuous research and development in data capabilities and artificial intelligence technology are planned to strengthen the company's technological barriers and expand market share [2]. Group 4: Financial Performance - As of June 2025, Qichacha has over 150 million registered users and more than 80 million monthly active users, with revenue growth from 518.482946 million yuan in 2022 to 708.412687 million yuan in 2024, reflecting a compound annual growth rate of 16.89% [3].

Core Viewpoint - Qichacha Technology Co., Ltd. has officially received acceptance for its A-share listing application on the Shanghai Stock Exchange, marking a significant step towards entering the domestic capital market [1] Group 1: Company Overview - Qichacha, established in 2014, is a leading provider of commercial big data services in China, focusing on data collection, cleaning, mining, analysis, and application across various sectors [2] - The company has over 150 million registered users and more than 80 million monthly active users as of June 2025 [2] - Qichacha ranks second in market share among general commercial big data service providers in China and leads in app download volume [2] Group 2: Policy Support - The listing application coincides with a critical period for national data strategy implementation, with the government encouraging social capital investment in the data industry [3] - The establishment of the National Data Bureau in 2023 has shown a strong focus on industry benchmark companies like Qichacha [3] - Policies have been introduced to support the legal development and utilization of data resources, fostering a transparent environment for data circulation [3] Group 3: Business Performance - Qichacha has shown stable growth in various data metrics, with average monthly active users exceeding 80 million [5] - The company has established partnerships with major clients, including five state-owned banks and over 200 law firms [5] - Financial performance indicates steady growth, with revenues increasing from 518.48 million yuan in 2022 to 708.41 million yuan by the end of 2024 [5] Group 4: Profitability and Future Plans - The company's net profit has grown from 162.30 million yuan in 2022 to 297.66 million yuan by the end of 2024, reflecting a compound annual growth rate of 35.42% [6] - The funds raised from the IPO will be invested in enhancing data capabilities and artificial intelligence technology, aiming to strengthen the company's market position [6] - Qichacha plans to leverage its listing to optimize R&D investments and expand its application of big data technologies in various economic sectors [6]