Core Viewpoint - Shengwei Times Technology Co., Ltd. (referred to as "Shengwei Times") has re-applied for a listing on the Hong Kong Stock Exchange after its initial application expired in November 2024, with CITIC Construction Investment International as the sole sponsor. The company, which has shifted focus to the ride-hailing market after Alibaba's investment of 160 million yuan, is currently not profitable and relies heavily on Alibaba's Gaode platform for 90% of its ride-hailing market [1][4][6]. Company Overview - Shengwei Times was established in 2012 and specializes in urban ride-hailing services and intercity road passenger transport information services. The company collaborates with various passenger transport enterprises to provide customized transport services, covering over 30 provinces, autonomous regions, and municipalities in China [4][10]. - As of mid-2025, Shengwei Times has obtained 204 ride-hailing operating licenses and has approximately 1.7 million registered drivers. The company has also undertaken digital projects for provincial road passenger transport in 17 provinces [4][9]. Financial Performance - Shengwei Times has reported revenues of 816 million yuan, 1.206 billion yuan, and 1.594 billion yuan for the years 2022, 2023, and the first half of 2025, respectively, with net losses of 499 million yuan, 482 million yuan, 426 million yuan, and 90 million yuan during the same periods. Adjusted net losses were 50.53 million yuan, 17.76 million yuan, 40.55 million yuan, and 9.32 million yuan [9][10]. - Over 80% of the company's revenue comes from ride-hailing services, with 90% of that revenue dependent on cooperation with Gaode. The revenue contribution from ride-hailing services was 86.2%, 85.3%, and 88.9% for the years 2022 to 2024, increasing to 90.4% in the first half of 2025 [9][10]. Investment and Shareholding Structure - Shengwei Times has completed nine rounds of financing, with a valuation of 2.216 billion yuan as of the latest financing round in November 2024. Alibaba's travel division is the largest shareholder, holding 27.01% of the company [11][12].

齐鲁晚报·齐鲁壹点记者信用中国了解到，麦田商旅（山东）网络科技有限公司临沂分公司（下称"麦田商旅临沂分公司"）上榜高频失信市场主体信息公示 专栏。 专栏内容显示，本次专项治理对象为存在高频失信行为的市场主体，近期重点集中治理失信记录超过10次以上的市场主体。 如行政处罚决定书文号371302202400205内容所示，麦田商旅临沂分公司提供服务车辆未取得《网络预约出租汽车运输证》,违反了《网络预约出租汽车经营 服务管理暂行办法》第十七条，临沂市交通运输局根据《网络预约出租汽车经营服务管理暂行办法》第三十五条第一款第一项对其罚款1万元。 值得注意的是，其母公司——麦田商旅（山东）网络科技有限公司（下称"麦田商旅"）的行政处罚记录更是多达136条。 最近的一张罚单发生在6月13日，麦田商旅在柳南区航惠路1号柳州市交通运输综合行政执法支队违章与投诉处理中心地点实施了线上提供服务车辆与线下实 际提供服务车辆不一致的违法行为。依据《网络预约出租汽车经营服务管理暂行办法》第十七条的规定，柳州市交通运输局对其依法作出罚款5000元的行政 处罚决定。行政处罚决定书文号为桂柳交综（投）罚﹝2025﹞183号。 国家企业信用信息 ...