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	Name▼ / Code▼	Industry	Offer Price	Lot Size	Entry Fee	Closing Date	Grey Market Date▼	Listing Date▲
	REFIRE 02570.HK	Electrical Components & Equipment	145-165	20	3,333	2024/12/03	2024/12/05	2024/12/06
	Dmall 02586.HK	Application Software	30.21	100	N/A	2024/12/03	2024/12/05	2024/12/06

Summary

We are an integrated API-enabled data exchange service provider in China. We provide standard API services and customized data management solutions to internet companies, telecommunications operators, technology companies and other business and government organizations as well as app developers and technology professionals. The integrated API-enabled data exchange service market and the industry-specific API-enabled data exchange service market together comprise the overall API-enabled data exchange service market, which itself is part of the API-enabled service market. Application Programming Interface, commonly known as API, is a set of protocols that allows disconnected applications to communicate with each other. A common example of how APIs work is when a customer requests weather information on a mobile app, the app sends out a request via an API to a weather data supply source, which then processes the request, retrieves the requested information, and sends a response via the API back to the mobile app for the customer. An alternative to achieving such connectivity would have required the mobile app developer and the data supply source to work together to build a new system that connects different applications. However, such an alternative is oftentimes not viable when the connectivity requires the handling of millions of data requests from various data sources on a day-to-day basis. APIs are an accessible way to enable applications to exchange data and functionality within and across organizations. APIs can eliminate data silos and handle the exchange of large volumes of data. We are dedicated to eliminating data silos and offering online API services that span across multiple service types and scenarios. Our API marketplace, a combination of APIs we offer, matches requests and responses and facilitates exchange of data. These services have been widely applied in various vertical industries, such as internet services, software information services, and telecommunications. Since the launch of API marketplace in June 2011, we have developed over 770 proprietary APIs. In 2023, API marketplace handled over 120 billion API requests. Our customers include well-known enterprises such as Tencent, Alibaba, Baidu, NetEase, Meituan, China Mobile, China Unicom, China Telecom, and many other internet companies, app developers and individuals. As of December 31, 2023, API marketplace made available over 380 proprietary APIs to our customers. In 2021, 2022 and 2023, the retention rate of key customers of our API marketplace was 78.9%, 85.7% and 59.1%, respectively. The net dollar expansion rate of revenue from our API marketplace key customers in 2021, 2022 and 2023 was 136.4%, 139.1% and 217.3%, respectively. Leveraging our integrated API-enabled data exchange capabilities, in 2020, we started to provide data management solutions, a type of customized data technology solution that comprises one or more of our products and services, including APIMaster, which provides lifecycle management services for APIs; DataArts, which is an integrated data stewardship platform that collects, cleanses and processes data to empower data; QuickBot, which is an RPA software designed to execute basic and repetitive tasks with a certain pattern; SmartShield, which is a privacy computation tool that addresses the issue of privacy protection in data exchange; and AnchorChain, which is a consortium blockchain tool that ensures the security of data circulation distributed ledgers. We offer solutions that assist organizations in their digital transformation. Our customized, digitalized, and self-deployed data management solutions cater to a diverse range of customers, including those from government agencies, manufacturing, finance, telecommunications, and various other industries. Our technologies eliminate data silos and cleanse data sets with heterogeneity, forming data that adheres to unified standards. Benefiting from our advanced technologies and service capabilities, we have gained recognition from our customers, resulting in rapid growth in revenue. In 2021, 2022 and 2023, our total revenue was RMB260.0 million, RMB328.9 million and RMB441.1 million, respectively. We recorded a CAGR in revenue of 30.2% from 2021 to 2023. From 2021 to 2023, the CAGR of the revenue attributable to our data management solutions was 23.1%. Source: Tianju Dihe (02479) Prospectus (IPO Date : 20/06/2024)
Listing Market	MAIN
Industry	Systems Software
Background	H Shares
Major Business Area	N/A

Corporate Information

Substantial Shareholders	Zuo Lei & Associates (Total share: 48.20%); (H share: 48.20%) JD Technology Holding Co., Ltd. (Total share: 14.89%); (H share: 14.89%) Qiu Jianqiang (Total share: 8.06%); (H share: 8.06%)
Directors	Zuo Lei (Chairman and Chief Executive Officer and Executive Director) Yang Yanjun (Deputy General Manager and Executive Director and Secretary to the Board) Lin Shan (Executive Director) Wang Haojin (Executive Director) Gao Yuan (Non-Executive Director) Qiu Jianqiang (Non-Executive Director) Chen Xinhe (Independent Non-Executive Director) Huang Xuexian (Independent Non-Executive Director) Li Shun Fai (Independent Non-Executive Director)
Company Secretary	Ching Shuk Wah Shirley Yang Yanjun
Principal Bankers	Bank of Communications Co., Ltd. Agricultural Bank of China Limited
Solicitors	King & Wood Mallesons
Auditors	BDO Limited
Registered Office	40th Floor, Dah Sing Financial Centre, 248 Queen’s Road East, Wanchai, Hong Kong
Share Registrars	Computershare Hong Kong Investor Services Ltd. [Tel: (852) 2862-8628]
Share Registrars Tel No	(852) 2862-8628
Internet Address	http://www.juhe.cn
Email Address	[email protected]
Tel No	(86 512) 8886-9195
Fax No

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