On March 28, 2023, Lara Technology Holdings Limited presented the main board of the Hong Kong Stock Exchange, with Goldman Sachs Group, Bank of America Securities and JPMorgan Chase & Co as co-sponsors.
According to the prospectus, the company is a leading technology-empowered, data-driven logistics trading platform with operations all over the world.
According to Frost Sullivan, the company is: the largest logistics trading platform in the global closed-loop freight transaction value (or GTV) in the first half of 2022; the largest inter-city logistics trading platform in the global closed-loop freight GTV in the first half of 2022; the largest monthly active users in 2022; and the largest logistics trading platform with the largest number of completed orders in 2022.
In 2022, the company's completed orders reached 427.5 million, and global freight GTV reached US $6715.4 million. In the same period, the company has an average of 11.4 million monthly active users and 1.0 million drivers, covering more than 400 cities in 11 markets around the world.
Since its inception, the company's operating and financial indicators have achieved strong growth.
The company's global GTV increased from US $3,732.3 million in 2020 to US $7307.2 million in 2022, with a compound annual growth rate of 39.9%.
The company's revenue increased from $529.0 million in 2020 to $1,035.8 million in 2022, with a compound annual growth rate of 39.9%.
Compared with the adjusted losses in 2020 and 2021 (measured under non-IFRS), for the first time since its establishment in 2022, the company made a profit on an adjusted basis and realized an adjusted profit (measured under non-IFRS) of US $53.2 million.
The company's fund-raising plan is used to drive the growth and expansion of the company's core business in mainland China in the next three to five years; to further accelerate the company's global business expansion in the next three to five years to seize the broad opportunities in the global logistics market; for further investment in research and development in the next three to five years to continuously develop and upgrade the company's technological infrastructure; for working capital and general corporate purposes.
(source: interface AI)
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