Fast dog taxi to Hong Kong IPO gets two organizations to invest in two institutions

Our reporter Xu Jie

On the morning of June 14, the city's logistics platform fast dog taxi announced its plan to go public on the main board of the Hong Kong Stock Exchange. Fast Dog taxi is planned to sell a total of 31.2 million shares (depending on whether the excessive sale rights are exercised) and will be listed on the main board of the Hong Kong Stock Exchange on June 24. Among them, 28.08 million shares are used as the international offering of excess distribution rights (can be re -assigned and depends on the exercise of excess equity), and the remaining 3.12 million shares are available for public sale in Hong Kong (can be re -distributed). The offer price is HK $ 21.50 per share. It is assumed that the excess rights have not been exercised. After the estimated package commission, handling fee and fee, the net amount of the global offering is expected to be approximately HK $ 567.3 million.

The reporter was informed that Fast Dog taxi has entered into a cornerstone investment agreement with Chery Commercial Vehicle (Anhui) Co., Ltd. (hereinafter referred to as "Chery Commercial") and Guangfa Global Capital Co., Ltd. (hereinafter referred to as "Guangfa Capital"). Chery Commercial and Guangfa Capital have agreed to subscribe to the number of sale shares that can be purchased at a total amount of about 63.5 million US dollars under the offering price or prompt it to designate the total amount of physical subscription at the offer price. Among them, Chery Commercial subscribed for US $ 50 million, and Guangfa Capital subscribed for $ 13.5 million.

In this regard, a relevant person in charge of the company told the "Securities Daily" reporter: "Cornerstone investment can help enhance the image of a listed company, indicating that institutional investors are confident in the business and development prospects of fast dog taxi."

Business intends to expand to 100 prefecture -level cities

The prospectus shows that the fast dog taxi business covers more than 340 cities in Mainland China, Hong Kong, Singapore, South Korea, and India. The company owns and operates two brands: one is a fast dog driver operating in Mainland China, a taxi platform for pulling goods; the other is GOGOX operating in other countries and regions in Asia. The main business includes platform services, corporate services and corporate services and Value-added services.

According to the above -mentioned person in charge, fast dog taxi will be used for the following aspects: 40%are used to expand the company's user base and increase brand awareness; 20%are used to develop new services and products ; 20%are used to seek strategic alliances, investment and acquisitions in overseas markets, which is complementary to the company's business and consistent with the company's development strategy; 10%is used to enhance technical capabilities and enhance research and development capabilities, including upgrading messages and technical systems systems. And purchasing advanced technologies from third -party service suppliers; 10%for operating funds and general company purposes.

Although the net profit of fast dog taxi has been losing money, the revenue from 2018 to 2021 was 453.1 million yuan, 548.5 billion yuan, 530.4 billion yuan, and 660.9 billion yuan, which was in a steady growth. At the same time, the company's gross profit was the gross profit of the company's gross profit. 104.4 million yuan, 173.1 billion yuan, 183.4 million yuan, and 241.7 billion yuan, and the gross profit margin was 23%, 31.6%, 34.6%, and 36.6%.

Ho Song, CEO CEO of Kua Dog, said: "In the past few years, we have not joined the industry subsidy war, because the B -end customers pay more attention to the platform service itself and will not be affected by subsidies. After the customer loyalty has increased, the company's income and the company's income and The gross profit margin will continue to increase, but we will control the gross profit margin at a reasonable level. "

He Song said: "There are more than 300 prefecture -level cities in Mainland China, but cities with high business penetration rates in the company are still concentrated in first- and second -tier cities. The company will copy business models from first -tier and second -tier cities to at least 100 prefecture -level cities in the next step. It provides the company with a driving force for continuous growth. "In addition, fast dog taxi also plans to open up other potential markets in the Asia -Pacific region through strategic cooperation, investment and acquisitions. "In Southeast Asia, the market potential of logistics in the same city is huge. The company will use Southeast Asia's growth potential to expand the company's international territory." He Song said.

Corporate customers have doubled more than 3 years

"The freight industry is the 'hairy blood vessel' of a city, which is large in market, but the industry is serious in the industry and the threshold for competition is low. How to improve the quality of service and kill low -cost competition is the primary consideration of freight platforms and freight companies. Question. "An industry analyst in Haitong Securities told the Securities Daily reporter.

He Song introduced: "At present, the company's income is still large enterprise customers, but the platform generally cuts in from small customers on C and B -ends, establishes brand, service and capacity, and then the instant order and the instant order and the large enterprise It is planned to penetrate the field of vehicles. In the future, large enterprise customers will increase higher and higher in the business structure. But this does not mean that it will abandon CNICS and small B -end customers. First serve them, and at the same time use the double capacity to use the double capacity. Wheel -driven to serve large enterprise customers, in turn, further the increase in capacity to serve Customers C and small B -end, form a virtuous circle. "

The above -mentioned industry analysts said: "Freight platform focuses on large customers, and can optimize the company's cost structure. The service is good to bring capacity to improve capacity; after having capacity, it will be launched for C -end services. '. "

Fast dog taxi has a wealth of experience in serving enterprise customers, so it stands out in the competition.It is reported that facing corporate customers with frequent logistics, including supermarkets, restaurants, building materials suppliers, furniture retailers, community group purchase platforms, e -commerce platforms and government organizations, etc., fast dog taxi can provide custom logistics solutions to meet all walksThe demand for the continuous changes in logistics facilities in various industries improves the viscosity and satisfaction of corporate customers.The prospectus shows that the company's cumulative corporate customers have risen from 16,000 on December 31, 2018 to 39,000 on December 31, 2021, with more than doubled in three years, covering small and medium -sized enterprises and large enterprises."Fast dog will continue to focus on deep excavation of corporate customers, increasing the revenue contribution of corporate services, and further tap the logistics needs of emerging industry enterprise customers such as social e -commerce and community group purchase services.Transportation, special transportation and reverse logistics. "He Song said.

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