New stock news: Coal logistics service provider Qianyuan Weike submits its application to the Hong Kong Stock Exchange, anticipating revenue exceeding 3.7 billion yuan in 2023.

According to the disclosure made by the Hong Kong Stock Exchange on December 13th, Qianyuan Weike Holdings Limited (Qianyuan Weike) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with Agricultural Bank International as its exclusive sponsor. The prospectus shows that Qianyuan Weike is a comprehensive coal logistics service provider in China dedicated to providing modern, intelligent, and environmentally friendly services. According to information from Frost & Sullivan, Qianyuan Weike is the leading non-long-term coal comprehensive logistics service provider in China, with the largest revenue scale in Shaanxi Province and the second largest in the Northwest region of China in 2023. By seamlessly integrating upstream and downstream resources in the coal industry value chain into comprehensive services, Qianyuan Weike has become a one-stop service provider for customers. In particular, according to Frost & Sullivan, most companies providing non-long-term coal logistics services lack this capability, giving the company a unique competitive advantage compared to its peers. Qianyuan Weike integrates industry resources and participants that were previously scattered in the coal industry value chain through its own resources and data development and analysis capabilities, in order to provide a comprehensive service covering coal source search and procurement, warehousing, and multimodal transportation. During the historical period, the company had three core business segments, namely coal logistics comprehensive services, coal logistics specialized services, and coal logistics value-added services. As of June 30, 2024, Qianyuan Weike had four logistics stations, including the self-owned Hongdonghaoqiang logistics station, the leased Shiyaodian logistics station, and agreements with operators of two other logistics stations, namely Shanmei Smart Logistics Park logistics station and Wuziwan logistics station in Inner Mongolia. Through these logistics stations, Qianyuan Weike effectively covers more than 30 coal mines. In terms of finance, for the year 2021, 2022, 2023, and the six months ending June 30, 2024, Qianyuan Weike's revenue was approximately RMB 2.721 billion, 4.524 billion, 3.738 billion, and 1.795 billion, respectively. During the same period, the company's annual profit was approximately 32.331 million, 165 million, 47.003 million, and 18.773 million respectively.