New stock news | Shengwei Era submits application to Hong Kong Stock Exchange as China's leading provider of intercity and intracity road passenger information services.

According to the disclosure of the Hong Kong Stock Exchange on November 13, Shengwei Times Technology Co., Ltd. (referred to as Shengwei Times) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with China Securities Co., Ltd. International as the sole sponsor. The prospectus shows that Shengwei Times is a leading provider of intercity and intracity road passenger transportation information services in China. According to Frost & Sullivan data, based on ticket sales volume, the company ranked first in the Chinese road passenger transportation information service market in 2023. Based on the number of "Online Booking Taxi Operations Licenses", as of June 30, 2024, the company ranked second in the Chinese online car-hailing service market. Furthermore, according to the same source, based on the number of provincial-level passenger digitalization projects as of June 30, 2024, Shengwei Times is the largest provider of digitalization and business solutions in the Chinese road passenger transportation market. The company's mission is to empower enterprise partners with advanced technology and solutions to enhance passenger travel experiences. Leveraging its technological expertise to address challenges in the traditional road passenger transportation industry, the company provides business and technological solutions to partners to digitalize, expand their business scope, enhance customer service capabilities, and ultimately improve the overall passenger experience. Shengwei Times primarily provides intercity road passenger transportation services and intracity online car-hailing services. The company's reputation is based on its professional technology in integrated digital solutions for passenger stations. With rich experience and excellent capabilities in online ticketing services, the company collaborates with multiple passenger transportation enterprises to provide customized passenger services to meet diverse travel needs. The company has accumulated extensive experience and established solid partnerships with major industry participants such as passenger transportation enterprises, major aggregation platforms, and OTAs. Leveraging its strategic partnerships in the intercity passenger transportation field and extensive network, the company actively seeks opportunities in the online car-hailing service sector. The company connects cities and intersperses them with nationwide travel service networks to provide users with diverse, multi-scene, and multi-demand travel solutions for both intracity and intercity travel. Shengwei Times empowers passenger stations through the "Cloud Station Service" system, connecting a large number of passengers and passenger stations through major OTAs and the "Travel365" system. The "Cloud Station Service" promotes automation of a series of daily operations and integrates the software and hardware in the passenger station into a basic information system. As of June 30, 2024, the company's online ticketing services cover 31 provinces, autonomous regions, and municipalities in China. The company cooperates with major OTAs to provide passenger flow for passenger stations. As of June 30, 2024, Shengwei Times has cooperated with major OTAs in China, including 12306, AirTravel, Ly.com, Ctrip, and Fliggy. "Travel365" is the company's ticketing and other passenger service platform for passengers through Wuxi Online Offline Communication Information Technology Co., Ltd. According to Frost & Sullivan data, based on ticket sales volume under the online ticketing service business in 2023, the company ranked first in the Chinese road passenger transportation information service industry. The company had a total transaction value of 2.9 billion RMB and sold 61.2 million tickets in 2023. In terms of finances, as of the fiscal years ending 2021, 2022, 2023, and the six months ending June 30, 2023 and 2024, Shengwei Times' revenues were approximately 554 million RMB, 816 million RMB, 1.206 billion RMB, 578 million RMB, and 726 million RMB, respectively. The compound annual growth rate from 2021 to 2023 was 47.6%. During the same period, the company achieved gross profit of 47.472 million RMB, 54.07 million RMB, 85.893 million RMB, 45.869 million RMB, and 25.459 million RMB.