Core Viewpoint - Qichacha Technology Co., Ltd. has received approval for its IPO application, aiming to raise over 1.5 billion yuan, focusing on enhancing its commercial big data services for both C-end and B-end users [1][3]. Group 1: Company Overview - Founded in 2014, Qichacha specializes in providing accurate and efficient commercial data services to help users understand credit, risks, opportunities, and information related to various business entities [1]. - The company launched its first paid product, Qichacha VIP membership, in 2016, followed by other premium offerings tailored to both C-end and B-end 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 among domestic commercial big data service providers and first in mobile app downloads [2]. - As of June 2023, Qichacha has over 150 million registered users, with a steady increase in paid users from 906,200 in 2022 to 1,048,000 in the first half of 2024 [2]. Group 3: Financial Performance - Qichacha's revenue for 2022, 2023, and projected for 2024 are 518 million yuan, 618 million yuan, and 708 million yuan, respectively, reflecting a compound annual growth rate of 16.89% [3]. - The company's net profit for the same years is reported as 190 million yuan, 256 million yuan, and 317 million yuan, with a net profit margin exceeding 45% [3]. Group 4: Future Plans - The funds raised from the IPO will be primarily allocated to upgrading C-end and B-end commercial big data products, enhancing a multi-dimensional database, and developing artificial intelligence capabilities in commercial big data [3]. - Qichacha's chairman highlighted the potential for growth in revenue, data assets, and management efficiency, aiming to establish a competitive edge in the international market [4].