Suspension of listing of cross-border e-commerce enterprises to Europe Technology


Author:Yibang Power
Source: ebrun

[Yibang Originality] On January 23, it was reported that Zhiou Home Technology Co., Ltd. (hereinafter referred to as "Zhiou Technology"), a cross-border e-commerce outbound enterprise, suspended its listing application.

It is reported that on June 29, 2021, the issuance and listing of GEM was accepted by Shenzhen Stock Exchange, and nearly 1.5 billion yuan will be raised for R&D and design center construction projects, warehouse logistics system expansion projects, Zhengzhou headquarters operation management center construction projects, etc; On September 30, 2021, as the financial information recorded in the IPO application documents has expired and needs to be supplemented, the IPO of Eurotech was forced to be suspended; In late December 2021, Geo Tech submitted new materials and disclosed the prospectus, and its IPO status was updated to "inquired".

As for the current suspension of the listing process again, Ebon Power sought confirmation from Zhiou Technology, which said that the listing of the company was normal and was progressing steadily.

According to the public information, Zhiou Technology is mainly engaged in the R&D, design and sales of household products, including furniture series, household series, courtyard series, pet series and other categories. It has three private brands, namely SONGMICS, VASAGLE and FEANDREA. In terms of business model, it mainly adopts the product supply mode of independent research and development or cooperative development and outsourcing production. Through the cross-border warehousing and logistics system of "domestic and foreign proprietary warehouse+platform warehouse+third-party cooperative warehouse", it takes Amazon, ManoMano, Cdiscount, eBay and other overseas well-known e-commerce platforms as the main sales channels, covering Europe, North America, Japan and other countries or regions.

It is reported that cross-border e-commerce enterprises are roughly divided into four categories according to trading platforms and commodity business strategies: first, "boutique strategy+third-party platform", second, "pan product strategy+self built platform", third, "pan product strategy+third-party platform", and fourth, "boutique strategy+self built platform". Like the major shareholder Anke Innovation, Zhiou Technology is also a typical representative of "boutique strategy+third-party platform". In January 2022, as a representative enterprise of standardized operation of cross-border e-commerce, Zhiou Technology was awarded the award of "Win it and stay it" as the seller of the year "by Amazon.

In terms of performance, according to the prospectus, from 2018 to 2020 and the first half of 2021, the business income of Zhiou Home Appliances was 1.595 billion yuan, 2.326 billion yuan, 3.971 billion yuan and 3.2 billion yuan respectively; Net profit attributable to parent company was 41 million yuan, 108 million yuan, 380 million yuan and 140 million yuan respectively; The net profit excluding non parent company was 79 million yuan, 164 million yuan, 459 million yuan and 126 million yuan respectively.

According to the data, Song Chuan is the controlling shareholder and actual controller of Zhiou Technology. He directly holds 197.96 million shares of the company, accounting for 54.78% of the total share capital of the company. In addition, the top ten shareholders of Zhiou Technology also include Anke Innovation, Suzhou Yizhong, Harmonious Boshi, Keying Investment, Muqiao Investment, Zeqian Consulting, Yuang Consulting, Wang Zhiwei and Tian Lin.

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