Chinese auto insurance provider Qingshi Technologies (QMSK.US) increases the size of its US stock IPO by 317%, aiming to raise $31 million.

Chinese automotive insurance aftermarket service provider QMSK.US raised the proposed transaction size of its upcoming IPO last Friday. According to the latest disclosure, the Qingdao-based company plans to issue 6.3 million shares of stock at a price range of $4 to $6 per share, with an expected total fundraising amount of $31 million - a significant increase of 317% from the previously applied for 1.5 million shares. QMSK focuses on meeting the needs of enterprise customers in the insurance industry through its operations, with a core positioning targeting mainly third-party service providers and insurance companies in the Chinese automotive insurance sector, providing comprehensive business solutions. Its main focus is on the automotive insurance aftermarket services field, including services such as insurance risk assessment, vehicle safety testing, and repair. As of March 31, 2025, the company has provided professional services to 14 enterprise customers, forming a stable customer base. Founded in 2013, QMSK has shown strong financial performance in recent years. In the 12 months ending March 31, 2025, the company achieved $65 million in revenue. The IPO is planned to debut on the NASDAQ exchange with the stock symbol QMSK, with D. Boral Capital serving as the sole bookrunner.