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Public company info - Cheshi Technology Inc. , 01490.HK
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Cheshi Technology Inc., 01490.HK - Company Profile
Chairman Xu Chong
Share Issued (share) 1,235,000,000
Par Currency U.S. Dollar
Par Value 1.0E-4
Industry E-Commerce & Internet Services
Corporate Profile Business Summary: The group operate online automobile vertical media platforms in China that offer comprehensive and high quality automobile content produced by the group's in-house content team and distributed across the group's proprietary, comprising the group's PC websites, mobile websites and mobile applications, and over 1,000 business partner platforms. Performance for the year: The group has experienced significant growth for the three years ended December 31, 2017, 2018 and 2019. The group’s total revenue increased from approximately RMB117.6 million for the year ended December 31, 2017 to approximately RMB157.8 million and approximately RMB177.6 million for the years ended December 31, 2018 and December 31, 2019, respectively. For the six months ended June 30, 2019, the group’s revenue amounted to approximately RMB77.5 million, as compared with revenue of approximately RMB58.9 million for the six months ended June 30, 2020. The group’s profit attributable to owners of the group’s Company increased from approximately RMB27.5 million for the year ended December 31, 2017 to approximately RMB47.6 million and approximately RMB51.7 million for the years ended December 31, 2018 and 2019, respectively. The group’s profit attributable to owners of the group’s Company increased from approximately RMB21.8 million for the six months ended June 30, 2019 to approximately RMB24.7 million for the six months ended June 30, 2020. Business Review The group’s widely distributed content drives high user traffic which in turn attracts automobile advertisers to use the group’s advertising services. According to the CIC Report, the group experienced a high growth rate for the three years ended December 31, 2017, 2018 and 2019, based on the group’s increase in revenue from approximately RMB117.6 million in 2017 to approximately RMB177.6 million in 2019, representing a CAGR of approximately 22.9% which was higher than the growth of the group’s main competitors with an average growth rate at CAGR of approximately 0.3% during the same period. For the six months ended June 30, 2020, the group’s revenue amounted to approximately RMB58.9 million as compared to approximately RMB77.5 million in the corresponding period in 2019. The “Cheshi (網上車市)” brand has over 20 years of history. The group acquired the business and assets of “Cheshi.com” in 2015. During the Track Record Period, the group has built a large and stable user base for the group’s comprehensive and high quality automobile-related content on the group’s proprietary platform, comprising the group’s proprietary PC websites, mobile websites and mobile applications under the name of “網上車市”; and a network of over 1,000 business partners platforms. While the coverage of the group’s Company’s proprietary platforms, such as Cheshi.com, extends to a national level, the group’s Company adopted a targeted and precise marketing strategy to provide more customized contents and attract more audience in the cities of different tiers. The group developed platform tools to enable the group’s users to utilize relevant data from the group’s automobile database, so as to assist their search and selection to purchase process. Apart from content creation of PGC, the group has built a user community on the group’s platform in February 2018 that generated over 4.0 million UGC as of June 30, 2020. The group receive user behavior data from the group’s proprietary and third party platforms. Together with the group’s insights in the online automotive advertising industry, the group offer Online Advertising Service and Transaction Facilitation Service to the group’s customers by providing advertising services and solutions, and promotion services of their group-purchase events, respectively. The group is led by a visionary and experienced management team with relevant professional work experience, proven execution capabilities and an extensive knowledge of China’s online automotive information and advertising industries. The group’s founder and executive Director, Mr. Xu, has extensive experience in the online automobile advertising industry, and is one of the pioneers of the automobile vertical media operator in China. Other members of the group’s management team have extensive relevant experience and share the same vision and dedication. Prospects: The group intend to maintain and further the group’s success by implementing the following strategies over three years of time in 2021, 2022 and 2023: Solidify the group’s market position in the automobile vertical media advertising industry by: Enhancing quality and quantity of the group’s PGC, which involved an expansion of the group’s content team including video production team; Collaborating with KOLs, to attract their followers to the group’s platforms; strengthening the collaboration with the group’s business partners and expanding the group’s geographical coverage and user base in three tier and lower cities while the coverage of the group’s Company’s proprietary platform, such as Cheshi.com, extends to a national level with deeper penetration by adopting a targeted and precise marketing strategy to provide more customized contents and attract more audience in the cities of different tiers, in order to increase both the breadth and depth of the group’s content coverage. Enhancing the group’s brand awareness through promotion; Capturing new customers and business opportunities through establishing and operating new offices in Chengdu and Beihai and expanding the group’s sales and business development team staff; Extending the group’s customer base to include automobile aftermarket service companies through the expansion of the group’s transaction team; Strengthen the group’s R&D, further enhance the group’s IT systems and products development by: Optimizing the group’s Picker engine, and recruiting computer personnels; Enhancing IT systems infrastructure by installing new computer servers; developing new products, tools and services to meet the needs of users and customers, including Vehicle Owner Service (車主服務), Cheshi Hao (車市號), Cheshi Mall (車市商城) and Cheshi VR (車市Virtual Reality), and recruiting computing programmers; and Selectively pursue strategic alliance, investment and acquisition opportunities which can satisfy the criteria adopted by the group.

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