New Stock News | Bocar Network's Hong Kong Stock IPO Prospectus Invalid

Boche Holding Limited (Cayman), also known as Boche Wang, submitted a Hong Kong Stock Exchange prospectus on February 21, which expired after 6 months on August 21, with CITIC SEC and FOSUN INTL Capital as its joint sponsors. The prospectus shows that Boche Wang is the largest accident car auction platform in China. According to data from Zhishi Consulting, based on 2023 trading volume, Boche Wang ranks first in the Chinese accident car auction industry, with a market share of approximately 31.3%. Leveraging the company's valuation infrastructure and Wuxi Online Offline Communication Information Technology Co., Ltd.'s integrated auction model, the company's accident car auction platform effectively connects the upstream accident car source party (mainly insurance companies) with the downstream accident car buyers (mainly accredited repair shops and certified car dismantling factories). Since its establishment in 2014, Boche Wang has been dedicated to improving the operational efficiency and transaction transparency of the accident car auction industry. The company's comprehensive services cover the entire auction process, aiming to optimize the transaction process for accident and used cars, shorten the transaction cycle, and enhance user experience. According to data from Zhishi Consulting, Boche Wang is the only accident car auction platform that can provide a complete chain of auction and accompanying services covering the entire process of accident car auctions.