New Stock News | Fengchao Express Appling to Hong Kong Stock Exchange as the World's Largest Operator of Intelligent Express Locker Network

On August 30, Fengchao Holdings Limited submitted an application for listing to the Hong Kong Stock Exchange, with Huatai International as the exclusive sponsor. According to the prospectus, based on information from Zhoushi Consulting, Fengchao is a leading provider of end-to-end logistics solutions in China and globally. It is the largest end-to-end logistics solution provider in China in terms of revenue in 2023, and the largest intelligent express cabinet network operator in the world in terms of cabinet quantity and parcel volume as of December 31, 2023, and in 2023. With a strong business model, Fengchao has become an innovative benchmark in the end-to-end logistics field. Fengchao has revolutionized end-to-end logistics through its intelligent cabinet network, supporting the emerging e-commerce industry and improving overall logistics efficiency. Specifically, Fengchao's intelligent cabinet network provides a secure and convenient hub for parcel delivery and pickup, establishing the foundation of nationwide express end delivery services, and fundamentally changing the final stage of parcel delivery. In addition, with the rise of the new trend in the e-commerce industry, Fengchao has keenly identified and captured the huge market opportunity in reverse logistics, strategically expanding consumer intelligent delivery services through the use of the Fengchao intelligent cabinet network. Leveraging the growing influence of its intelligent cabinet network in community settings, Fengchao has expanded its value-added services in multiple scenarios, such as interactive media services, laundry services, and home delivery services. As of May 31, 2024, Fengchao has provided services to 368 million consumers and 35 million couriers. The parcel quantity delivered by Fengchao's express end delivery service during the historical period has shown a stable growth trend: 62.04 billion parcels in 2021, 58.23 billion parcels in 2022, and 64.63 billion parcels in 2023. In terms of finances, Fengchao achieved revenues of approximately 2.526 billion yuan, 2.891 billion yuan, 3.812 billion yuan, and 1.904 billion yuan in the fiscal years 2021, 2022, 2023, and the first five months of 2024, respectively. The profits for the respective periods were approximately -2.071 billion yuan, -1.166 billion yuan, -541 million yuan, and 71.602 million yuan.