Chinese used car dealer solution provider DaSouChe (DSC.US) went public in the US with an IPO price of $17, but fell 46.71% on the first day.

Chinese used car dealer solution provider Dasouche (DSC.US) was listed on the Nasdaq Stock Exchange for trading on June 25th, Eastern Time, and its stock price fell by 46.71% on the first day of listing. The company's initial public offering (IPO) price was set at $17 per share, which is the midpoint of the previously announced price range of $16 to $18. The company issued 3 million American depositary shares (ADS) at this price, raising a total of approximately $51 million. It is worth noting that existing shareholders have expressed their intention to subscribe for $30 million worth of ADS, accounting for 59% of the total shares issued in this offering. Dasouche primarily provides digital operating systems and transaction services for used car dealers in China. According to the company, as of early 2026, its system manages over 50% of the total used car market in China in terms of vehicle identification numbers (VIN). The company's flagship digital product, "Da Feng Che," is a comprehensive platform that is essentially free, integrating enterprise resource planning (ERP) and customer relationship management (CRM) functions, covering inventory management, marketing, sales, business analytics, and internal management, and can access various transaction services. The company's revenue mainly comes from transaction services, including sourcing of vehicles, vehicle inspections, logistics, and storage. By 2025, the platform had approximately 228,000 active users and 30,297 paying dealers and brokers. In addition to its core B2B used car dealer customer base, the company has also expanded its business to include original equipment manufacturers (OEMs) and new car dealers. The company's stock ticker symbol is "DSC." The joint bookrunners for this offering include Deutsche Bank Aktiengesellschaft, CICC, and CR Global Markets.