New Stock News | Fengchao Hong Kong Stock IPO Prospectus Invalid

Fengchao Holdings Limited (referred as "Fengchao") submitted its Hong Kong stock prospectus on August 30, 2024, which expired on February 28, 2025 after 6 months. According to the prospectus, based on data from SmartInsight Consulting, Fengchao is a leading end-to-end logistics solutions provider in China and globally. It is the largest end-to-end logistics solutions provider in China based on revenue in 2023, and the largest intelligent parcel locker network operator in the world based on the number of lockers as of December 31, 2023, and parcel volume in 2023. As of May 31, 2024, Fengchao has served a total of 368 million consumers and 35 million delivery drivers. During the historical period, the number of parcels delivered by Fengchao's end-to-end delivery services has shown a stable growth trend: 62.04 billion parcels in 2021, 58.23 billion parcels in 2022, and 64.63 billion parcels in 2023.