New stock news | It is reported that 4S store platform Tuhu is considering going public in Hong Kong as early as this year, aiming to raise between 1 billion and 1.5 billion US dollars.

According to sources cited by the media, Beijing Dongchedi Technology Co., Ltd. is considering conducting its first public offering in Hong Kong as early as this year. The sources said Dongchedi is seeking to hire banks to assist in the potential stock issuance, which could raise between $1 billion to $1.5 billion. Considerations regarding the IPO are still ongoing, and details such as timing and scale may change. Founded in 2017, Dongchedi is a one-stop automotive information, trading, and service platform. The company spun off from ByteDance Limited in 2023, and its competitors include Autohome and Yiche. In terms of fundraising, sources in 2024 said the company raised approximately $600 million, with a valuation close to $3 billion. Investors include General Atlantic, Sequoia China, KKR & Co., and GGV Capital.