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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 have built a digitalized ecosystem for road freight transportation in China. We operate one of the largest digital freight platforms in China in terms of Online GTV during the Track Record Period, according to CIC. Our platform provides digital freight services and solutions to shippers, such as logistics companies and cargo owners, as well as truckers in both inter-city and intra-city road freight transportation. To cater to different needs of shippers, we provide two types of services through our digital freight business, namely freight transportation services and freight platform services. We had served over 11,600 shippers and 2.7 million truckers who had completed an aggregate of over 36.2 million shipping orders on our platform from the inception of our digital freight business to September 30, 2022. The aggregate amount of shipping fees (including VAT) settled on our platform from transactions fulfilled through us as a statutory carrier under PRC law, which we refer to as our Online GTV, amounted to RMB27.3 billion in the nine months ended September 30, 2022. In addition to our digital freight platform, we also operate Trucker Community, an “online + offline” community for truckers. According to CIC, it is the largest community for truckers in China and the largest community in the logistics industry in China, in terms of the number of registered users as of December 31, 2021. We have accumulated a large and loyal user base of truckers over the past decade, which enabled us to launch a comprehensive portfolio of truck sales and aftermarket solutions, Truck Plus, to empower truckers in China by addressing their needs in the full life-cycle of their businesses. Our Trucker Community and Truck Plus business provide strategic value complement to our digital freight business, and such three business lines generate strong synergies. In the foreseeable future, we expect to continue to generate the majority of our revenue from our digital freight business, while we expect to continue exploring business opportunities in Trucker Community and Truck Plus business to increase monetization. According to CIC, China possesses the world’s largest freight transportation market, yet the freight transportation market in China also faces long-standing problems, such as low operational efficiency and lack of trust between shippers and truckers for road transportation. Since the establishment, we have been committed to using internet-based technology and digital approaches to improve the operational efficiency of the road freight transportation industry in China, to enhance the working conditions for truckers, and to lead the digital transformation of the industry based on our insights into the trend of technology development. Since 2005, we have successively launched our self-developed SaaS products, which provide digital solutions to address the specific needs of different participants in the road freight transportation ecosystem and signify the first development phase of our digital freight business. We launched Guanchebao in 2005, the first SaaS product in logistics industry in China, according to CIC; subsequently, we launched mobile applications such as Haoyunbao and Kuailubao in light of the proliferation of mobile internet. In 2013, we took the lead in launching one of the first digital freight platforms in China according to CIC, signifying a new development stage for us as we transformed from a provider of SaaS products to a provider of comprehensive platform-based solutions. In 2014, we launched Trucker Community, the first online community for truckers in China according to CIC, reflecting our strategic transformation to another new development stage, as we strive to create ecosystem-based solutions that empower all ecosystem participants. We seek to benefit and empower the participants in the ecosystem of road freight transportation industry, including shippers such as logistics companies and cargo owners, truckers, freight brokers, and other related service providers. We promote the collaboration between such ecosystem participants, enhance transparency and synergy in such collaboration through our digitalized services, and help such participants establish more balanced and reciprocal relationships through repeated transactions. Our revenue is primarily derived from our digital freight business. Based on the needs of the customers in the road freight transportation process, we provide two forms of services through our digital freight business, namely freight transportation services and freight platform services. Under both freight transportation services and freight platform services, as a statutory carrier, we are required by applicable PRC laws and regulations to enter an agreement with shippers who place shipping orders on our platform, and an agreement with truckers who fulfill such shipping orders. Since shippers and truckers do not directly enter into agreements with each other, we collect the full amount of shipping fee from shippers and pay the transportation fee to truckers under both business models. Our financial performance showed a trend of growth during the Track Record Period. Our revenue grew from RMB3.6 billion in 2019 to RMB6.3 billion in 2021, representing a CAGR of 33.0%; and grew from RMB4,676.7 million in the nine months ended September 30, 2021 to RMB4,710.6 million in the nine months ended September 30, 2022. We recorded a net loss of RMB3.3 million in 2019, and net profits of RMB26.1 million, RMB50.7 million and RMB3.7 million in 2020, 2021 and the nine months ended September 30, 2022, respectively. Source: Logory Logistics (02482) Prospectus (IPO Date : 2023/02/27)
Listing Market	MAIN
Industry	Air Freight & Logistics
Background	H Shares
Major Business Area	N/A

Corporate Information

Substantial Shareholders	Feng Lei (Total share: 20.55%); (H share: 1.53%) Du Bing (Total share: 19.97%); (H share: 0.00%) Ant Group Co., Ltd. (Total share: 13.56%); (H share: 22.17%) Ye Sheng (Total share: 5.32%); (H share: 8.70%)
Directors	Feng Lei (Chairman and Executive Director) Du Bing (General Manager and Chief Executive Officer and Executive Director) Wang Yao (Chief Financial Officer and Non-Executive Director) Ye Sheng (Chief Technology Officer and Executive Director) Chen Zhijie (Non-Executive Director) Fu Da (Non-Executive Director) Dai Dingyi (Independent Non-Executive Director) Li Dong (Independent Non-Executive Director) Liu Xiaofeng (Independent Non-Executive Director)
Company Secretary	Long Ke Yuen Wing Yan, Winnie
Principal Bankers	Bank of Communications Co., Ltd.
Solicitors	Tian Yuan Law Firm
Auditors	Ernst & Young
Registered Office	5th Floor, Manulife Place, 348 Kwun Tong Road, Kowloon, Hong Kong
Share Registrars	Tricor Investor Services Ltd. [Tel: (852) 2980-1333]
Share Registrars Tel No	(852) 2980-1333
Internet Address	http://www.logory.com
Email Address	[email protected]
Tel No	(86 400) 160-1156
Fax No

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