Core Viewpoint - Tianjiu Shared Smart Enterprise Service Co., Ltd. has officially submitted its main board listing application to the Hong Kong Stock Exchange on December 30 [1] Group 1: Company Overview - Tianjiu Qifu positions itself as a resource-sharing service platform connecting innovative enterprises with traditional businesses, utilizing online and offline integration, big data, and AI technology for precise resource matching and standardized cooperation [3] - The company operates primarily through its self-developed one-stop service platform "Tianjiu Boss Cloud," which has over 6.2 million registered users as of the last feasible date [3] - In 2024, the platform is expected to host over 22,000 roadshow events and more than 1,200 offline professional service activities to facilitate the conversion of online cooperation intentions [3] Group 2: Technological Capabilities - The company's business model is supported by its core technologies, including the "Tianxing Qiong" vertical industry large language model, "Tianji" algorithm, and AI toolkit, ensuring the precision of resource matching [3] - Tianjiu Qifu is the only company in the industry to have obtained national high-tech enterprise certification and completed the relevant algorithm filing [3] Group 3: Financial Performance - The company has shown significant revenue growth, increasing from 810.7 million RMB in 2022 to 1.772 billion RMB in 2024 [4] - Tianjiu Qifu achieved profitability in 2023, with profits of 621 million RMB and projected profits of 1.315 billion RMB in 2024 [4] - In the first half of 2025, the company reported revenue of 725 million RMB [4] Group 4: IPO Fund Utilization - The funds raised from the IPO are planned to be used for enhancing the business acceleration ecosystem, strengthening marketing and customer coverage, upgrading technology platforms and AI capabilities, making strategic investments and acquisitions, and supplementing working capital [4]

Core Insights - Tianjiu Qifu is initiating its IPO process by submitting a prospectus to the Hong Kong Stock Exchange, positioning itself as a leader in the enterprise resource sharing service sector in China [1] - The company aims to facilitate the growth of innovative enterprises while assisting traditional enterprises in their transformation, playing a crucial role in China's industrial upgrade and innovation wave [1] Company Overview - Tianjiu Qifu is recognized as the largest enterprise resource sharing service provider in China, according to a Frost & Sullivan report, based on revenue projections from 2022 to 2024 [1] - The company's business model connects innovative enterprises with traditional businesses through online and offline channels, utilizing big data and AI for standardized business cooperation [1] Platform and User Engagement - As of the last feasible date, the Tianjiu Boss Cloud platform has over 6.2 million registered users, showcasing a wide array of traditional enterprise resources [2] - In 2024, the platform is expected to host over 22,000 roadshows and achieve 500 million ad exposures, with a professional outreach team organizing over 1,200 offline events [2] Technological Advancements - Tianjiu Qifu has developed proprietary technologies, including the Tianxing Qiong vertical industry language model and AI tools, which provide core technical support for precise matching [2] - The company is the only one in the industry to have obtained national high-tech enterprise certification and completed algorithm filing [2] Financial Performance - The company has demonstrated strong growth, with revenue increasing from 810.7 million RMB in 2022 to 1.491 billion RMB in 2023, and projected to reach 1.772 billion RMB in 2024 [2] - Tianjiu Qifu achieved profitability in 2023, with profits of 621 million RMB and a net profit margin of 41.7%, expected to rise to 13.15 billion RMB and 74.2% in 2024 [2] - For the six months ending June 30, 2025, profits are projected to soar to 2.508 billion RMB, with a remarkable net profit margin of 346.1% [2] Industry Context - The enterprise resource sharing platform addresses the structural reshaping of Chinese enterprises amid digitalization, connecting innovative and traditional businesses [3] - The market size is projected to grow from 12.2 billion RMB in 2020 to 32 billion RMB in 2024, with a compound annual growth rate of 27.3%, potentially reaching 84.6 billion RMB by 2029 [3] IPO Utilization - Proceeds from the IPO will be primarily used to enhance the business acceleration ecosystem, strengthen marketing efforts, expand customer reach, upgrade the Tianjiu Boss Cloud platform and AI capabilities, pursue strategic investments and acquisitions, and supplement working capital [3] - The IPO is expected to further integrate industry resources and lead to standardized development within the sector [3]

Core Viewpoint - Tianjiu Shared Smart Enterprise Service Co., Ltd. is applying for a listing on the Hong Kong Stock Exchange, aiming to enhance its business acceleration ecosystem and expand its customer base [2][12]. Group 1: Company Overview - Tianjiu Shared is a leading enterprise resource sharing service platform in China and one of the earliest pioneers in the sector [3]. - The company connects innovative enterprises with traditional businesses through online and offline channels, leveraging big data and AI technology to facilitate standardized business cooperation [3][4]. - As of the last feasible date, the Tianjiu Boss Cloud platform has over 6.2 million registered users, primarily traditional enterprises undergoing critical transformation [7]. Group 2: Financial Performance - The company's revenue increased from 811 million RMB in 2022 to 1.491 billion RMB in 2023, and further to 1.772 billion RMB in 2024 [11]. - Gross profit for the years 2022, 2023, and 2024 was 226 million RMB, 630 million RMB, and 945 million RMB, respectively, with gross margins of 27.8%, 42.3%, and 53.3% [11]. - In 2023, the company turned a profit, recording a net profit of 621 million RMB, with a net profit margin of 41.7% [12]. Group 3: Market Potential - The enterprise resource sharing service industry in China is projected to grow from 12.2 billion RMB in 2020 to 32 billion RMB by 2024, with a compound annual growth rate (CAGR) of 27.3% [11]. - The market is expected to reach 84.6 billion RMB by 2029, driven by the expansion needs of numerous innovative enterprises, with a CAGR of 21.5% from 2025 to 2029 [11]. Group 4: Strategic Initiatives - The company plans to use the funds raised from the IPO to enhance its business acceleration ecosystem, strengthen marketing efforts, and expand customer coverage [12]. - Investments will also focus on improving the Tianjiu Boss Cloud platform and enhancing AI and big data analytics capabilities [12].