New Stock News | Qiniu Intelligent Secondary Carrier Transfer Table Fails, Making It China's Third Largest Audio-Visual PaaS Service Provider

Qiniu Intelligent Technology Co., Ltd. (referred to as Qiniu Intelligent) submitted its Hong Kong IPO prospectus for the second time on March 18, 2024, which expired on September 18 after 6 months. When submitting the prospectus, Shenwan Hongyuan Group Hong Kong, BOCOM INTL, and Huatai International acted as its joint sponsors. On June 29, 2023, Qiniu Intelligent first submitted its IPO prospectus to the Hong Kong Stock Exchange. The prospectus shows that Qiniu Intelligent occupies a leading position in the Chinese audio and video cloud service market. According to iResearch, based on revenue in 2023, the company is the third largest audio and video PaaS service provider in China, with a market share of 5.8%; based on revenue from APaaS in 2023, the company is the second largest audio and video APaaS service provider in China, with a market share of 14.1%. Qiniu Intelligent's product and service system is mainly divided into two core parts: MPaaS products and APaaS solutions. MPaaS products are a series of solutions for the audio and video field, covering content distribution, storage, interactive live broadcasting, and data analysis, which are particularly favored by customers with strong development capabilities and flexible needs. On the other hand, APaaS solutions are based on MPaaS capabilities and low-code platforms, aiming to help customers achieve business goals quickly without complex deployment. In terms of financials, in 2021, 2022, and 2023, Qiniu Intelligent achieved revenues of approximately RMB 1.471 billion, 1.147 billion, and 1.334 billion respectively.