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【New Stock IPO】Rapid Innovation to go public on Friday, aiming to raise 1.56 billion yuan; net profit increased by 20% in the first three quarters of last year
Online Direct-to-Consumer (DTC) Network Solution Provider Feishu Innovation to Go Public This Friday
Feishu Innovation, a rapidly growing provider of online direct-to-consumer (DTC) network solutions, announced during a hearing on March 2nd that it plans to launch an IPO this Friday (the 13th), raising approximately $200 million (about HKD 1.56 billion).
Previously, there were reports that Feishu Innovation aimed to raise between $200 million and $250 million. China International Capital Corporation (CICC), CITIC Securities, and China Merchants Securities are serving as joint sponsors.
According to the updated preliminary prospectus citing industry reports, based on 2024 revenue, the company holds a 6.9% market share, making it the second-largest online DTC network solution provider globally. Through its sales platform FS.com, it offers scalable, cost-effective, and one-stop network solutions.
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Last year’s first three quarters saw a 20% increase in profit
The documents show that by the end of September last year, the company’s profit was RMB 423 million, an increase of 20.63% year-over-year. Excluding financial costs such as share-based compensation and debt redemption interest, adjusted net profit was RMB 460 million, up 28.17% year-over-year. During the period, revenue increased by 11.31% to RMB 2.174 billion, with 54.2% coming from the U.S. market, 28.4% from Europe, and 9.2% from Asia.
The funds raised will be used over the next five years to strengthen the technological platform’s digital intelligence; enhance delivery capabilities in major overseas markets; digitize network solutions and service business platforms; and serve as operating capital and for general corporate purposes.
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