New stock news | YouLeSai Group submits application to Hong Kong Stock Exchange Main Board, becoming the largest service provider in the automotive sector in China's sharing economy industry.

According to the disclosure by the Hong Kong Stock Exchange on November 18, Suzhou Youlesai Shared Services Co., Ltd. (referred to as: Youlesai Group) has submitted its listing application to the main board of the Hong Kong Stock Exchange, with China Securities Co., Ltd. as its exclusive sponsor. The prospectus shows that Youlesai Group is a leading integrated circular packaging service provider in China, focusing mainly on providing services to automobile parts manufacturers and OEMs within the automotive industry. The company's comprehensive services include two main divisions: integrated container management, covering shared operational services (managing the entire container operation process from design to recycling through the company's digital capabilities and extensive operational network) and leasing services and other value-added services; and container sales (providing containers tailored to meet customers' different needs). According to Frost & Sullivan, based on revenue projections for 2023, the company is the largest service provider in China's sharing operational services industry and the sharing operational services industry in the automotive sector. As of June 30, 2024, with the support of 70 CMCs, Youlesai Group manages an asset pool of over 1.2 million circular containers and operates 944 circular routes spanning 97 cities. With the combined effect of the asset pool and extensive logistics network, the company is able to meet the evolving needs of its customers. In addition, as of June 30, 2024, Youlesai Group has expanded its business overseas, with two international circular routes in Indonesia and South Korea, and international partners in East Asia, Europe, North America, and other regions. The company has also established subsidiaries in Hong Kong and Thailand to support international expansion. The downstream industry's demand for digitization is driving upstream suppliers to undergo digital transformation, especially in the automotive industry. Therefore, the global shared operational services market continues to expand. According to Frost & Sullivan, based on revenue projections, the global market size for shared operational services increased from 105.6 billion yuan in 2019 to 156.6 billion yuan in 2023, with a compound annual growth rate of 10.4%. It is expected to reach 269.4 billion yuan by 2028, with a compound annual growth rate of 11.7% from 2024 to 2028. In terms of finances, for the six-month period ending on June 30 in 2021, 2022, 2023, and 2024, Youlesai Group's revenues were approximately 509 million yuan, 648 million yuan, 794 million yuan, and 383 million yuan, respectively. During the same period, the company achieved annual profits of 28.45 million yuan, 31.20 million yuan, 64.14 million yuan, and 25.95 million yuan, respectively.