Baowang shares (06657) rose by more than 25% during the closing session, reaching a high of HKD 49.1, which is an increase of more than 36% from the IPO price of HKD 36. As of press time, it has risen by 25.71% to HKD 48.9, with a turnover of HKD 14.5995 million.
According to the Financial APP, Baowang shares (06657) rose by more than 25% during the closing session, reaching a high of HKD 49.1, which is an increase of more than 36% from the IPO price of HKD 36. As of press time, it has risen by 25.71% to HKD 48.9, with a turnover of HKD 14.5995 million.
It is reported that Baiwang Shares focuses on providing intelligent solutions related to financial and tax digitization and data-driven services through the Baiwang cloud platform. According to Frost Sullivan's report, by 2023, in terms of revenue, Baiwang Shares ranked first in China's cloud-based financial and tax-related transaction digitization market, with a market share of 7.1%.
However, the company's performance has been disappointing. According to the prospectus data, the company's annual losses from 2021 to 2023 are approximately RMB 0.448 billion, RMB 0.156 billion, and RMB 0.359 billion, respectively, with a total accumulated loss of RMB 0.963 billion over three years. It is reported that the proportion of shares issued globally by Baowang shares in this offering is about 4.10%, with a total fundraising of HKD 0.333 billion. Among them, the proportion of domestic allocation is 90%, and 1 cornerstone investor (Jiangsu Yuanli) is introduced, accounting for approximately 78% of the shares issued globally.