Tuhu.cn Listed on the Hong Kong Stock Exchange, Marking the Birth of the First Hong Kong Stock Exchange Listed Company in the Independent Automotive After-sales Service Market! Another Listed Company Born in Zizhu High-Tech Park
2023-09-26 338

China's leading online and offline integrated automotive service platform Tuhu.cn was officially listed on the main board of the Hong Kong Stock Exchange on the morning of September 26, 2023, with the stock code 9690.HK. The issue price is HKD 28 per share with a net fundraising amount of HKD 1.081 billion (assuming that the overallotment rights have not been exercised). After the opening of today's trading, the market value of Tuhu.cn is approximately HKD 23 billion, making it the first Hong Kong listed company in the independent automotive after-sales service market. Tuhu.cn is the largest TMT IPO project in Hong Kong this year and the only TMT company to ultimately raise over 100 million US dollars.

Founded in 2011, Tuhu.cn is a leading integrated online and offline automotive service platform in China. With a customer-centric model and efficient supply chain, it provides digital and on-demand service experiences to meet the diverse product and service needs of car owners, creating a vibrant automotive service platform composed of car owners, suppliers, automotive service stores and other participants.

As of June 30, 2023, Tuhu.cn has 161 self-operated stores, 4968 franchised workshops and 20013 cooperative stores, covering most prefecture level cities. They provide comprehensive automotive services for most passenger car models sold in China, meeting the needs of car owners from tire and chassis parts replacement to car maintenance, repair, and beauty. At present, the cumulative number of registered users for the car maintenance application and online interface has exceeded 100 million, with an average monthly active user of nearly 10 million, making it the largest car owner community in the domestic automotive service market.

As a leading integrated online and offline automotive service platform in China, Tuhu.cn Headquarters is registered in Zizhu High-Tech Park and has established the company headquarters, research and development center, procurement center and marketing center in the park. The cumulative investment amount reaches nearly RMB 10 billion. It has made outstanding contributions to the regional economic development. Zizhu High-Tech Park, as the cornerstone investor of this issuance, has subscribed a total of $100 million with four institutions including Tencent, Castrol, Leapmoto and Gotion High-Tech.

Tuhu.cn is the third enterprise in Zizhu High-Tech Park to be listed on the main board of the Hong Kong Stock Exchange, following Xindong Company and Netjoy Technology. As a cornerstone investor, Zizhu High-Tech Park subscribed the share, fully expressing its determination to work hand in hand with Tuhu.cn. In the future, Zizhu High-Tech Park will continue to safeguard the development of enterprises and industrial progress and strive to be a high-level High-Tech Park operator, a platinum industry service provider and a technology industry leader.