New stock news | Woodpecker once again submits an application to the Hong Kong Stock Exchange main board. The net profit margin in the first half of this year has decreased significantly year-on-year.

According to the disclosure on September 30 by the Hong Kong Stock Exchange, Woodpecker Maintenance International Limited (hereinafter referred to as "Woodpecker") has again submitted its application to the main board of the Hong Kong Stock Exchange, with CICC and Zhongtai International as its joint sponsors. The company had previously submitted an application to the Hong Kong Stock Exchange on January 29, 2024. Woodpecker is the largest home maintenance platform in China. The platform provides convenient, transparent, and reliable services to millions of Chinese households in over 300 cities, while also providing opportunities for sustainable income to a large number of engineers. According to data from Pyro Insight Consulting, based on the total transaction volume in 2023, Woodpecker holds a market share of up to 2.4% in the online home maintenance industry in China. The prospectus shows that the total transaction volume on the Woodpecker platform increased from 990 million RMB in 2021 to 1.46 billion RMB in 2022, and further increased to 2.48 billion RMB in 2023, with a compound annual growth rate of 58.5% from 2021 to 2023. As of the six months ending June 30, 2024, the total transaction volume on the platform was 1.57 billion RMB. Woodpecker's core competitiveness lies in its strong technological capabilities and extensive industry experience. Over the years, Woodpecker has not only standardized home maintenance services in terms of price, quality, process, and after-sales guarantee, but has also actively promoted the industry's digital transformation. The platform covers a wide range of services, including appliance repairs, cleaning, installation, plumbing repairs, pipe cleaning, lock changing, etc., covering almost all the needs of home maintenance. This one-stop solution greatly benefits consumers and enhances service efficiency. In addition, Woodpecker places emphasis on the development of its team of engineers. The company has established over 500 engineer stations nationwide, providing engineers with diverse skill training through Wuxi Online Offline Communication Information Technology Co., Ltd., and cultivating frontline managers with outstanding leadership through the engineer authorization system. The average monthly active engineers on the Woodpecker platform increased by 62.8% from 7,092 in 2021 to 11,546 in 2022, further increasing by 65.5% to 19,105 in 2023, and by 41.2% to 26,968 in the six months ending June 30, 2024. On the financial side, the company's revenue increased from 401 million RMB in 2021 to 595 million RMB in 2022, a 48.1% increase, and further increased to 1.01 billion RMB in 2023, a 70.0% increase, mainly due to increases in platform service revenue and product sales revenue. The company's revenue increased by 45.1% from 429 million RMB in the six months ending June 30, 2023, to 623 million RMB in the six months ending June 30, 2024. The company's net profit decreased from 41.53 million RMB in the six months ending June 30, 2023, to 38.88 million RMB in the six months ending June 30, 2024. Furthermore, the company's operating performance is influenced by seasonal factors. Typically, transaction volume is highest in the third quarter due to increased demand for household appliance cleaning and maintenance as temperatures rise in the summer, especially for air conditioning services. The first quarter is affected by the Lunar New Year holiday, as many engineers return home for the festival, reducing business activities. Data shows that the transaction volume in the third quarter from 2021 to 2023 was 91.0%, 92.9%, and 83.9% higher than in the first quarter of the same year. In order to reduce seasonal fluctuations, the company invests heavily in advertising and marketing resources in the fourth quarter of each year to enhance brand awareness and stimulate growth in transaction volume in the following year. For example, in the fourth quarter of 2023, the company conducted large-scale brand promotion through multiple channels such as elevator and high-speed rail advertisements.