According to the disclosure of the Hong Kong Stock Exchange on June 7, Kuaidou taxi was heard through the Hong Kong Stock Exchange. China International Capital Corporation, UBS, BoCom International and Agricultural Bank of China International are the co-sponsors.

Earlier, Reuters' IFR reported that KuaiDog might seek to set up a book on June 13, set a price on June 16 and list on June 23, raising between $100m and $150 million.

Source: the unicorn knew

Established in 2014, KuaiDog Taxi is a subsidiary of Jijia Group. It serves individuals, small and medium-sized enterprises and large enterprise shippers-"GOGOX" in Hong Kong and overseas markets and "KuaiDou Taxi" by Chinese mainland-with two trusted brands. As of December 31, 2021, there are about 5.2 million registered drivers and 27.6 million registered users on the Kuaigou ride-hailing platform, and cooperation has been established with 39000 + enterprise customers.

According to the prospectus, in 2021, the order volume of Kuaigou taxi consignment was 28.4 million, with a total transaction volume of 2.677 billion yuan and an income of 661 million yuan, an increase of 24.6 percent over the same period last year, with a net loss of 873 million yuan, expanding over the same period last year.

Public data show that Kuaigou taxi-hailing is positioned as a "taxi-hailing platform for pulling goods", which is based on the online trading platform with the whole process closed loop and massive social transport capacity. To provide users with short-distance goods transportation and trading services such as pulling, moving, transporting things, and so on.

Fast Dog Taxi has operated in more than 340 cities in five Asian countries and regions, namely, mainland China, Hong Kong, Singapore, South Korea and India.

According to the Frost Sullivan report, Kuaigou Taxi is the third largest online intercity logistics platform in mainland China in terms of total transaction volume in 2021, with a market share of 3.2% (behind participants with a market share of 52.8% and 5.5%). The company is also a market leader in Hong Kong, with a market share of 50.9%. In terms of total transaction volume in 2021, mainland China and Hong Kong together account for about 71% of the Asian online intercity logistics market.

According to statistics, from 2018 to 2021, the registered shippers of Fast Dog Taxi are about 14.5 million, 19.8 million, 24 million and 27.6 million respectively, and the registered drivers are 13 million, 30 million, 42 million and 52 million respectively, all increasing year by year. During the record period, the retention rate of the company's drivers in mainland China, Hong Kong and Singapore was 75.1% in the following month.

In four years, the consignment orders of Kuaigou taxi hailing reached 32.4 million, 33.4 million, 27.1 million and 28.4 million respectively. After a decline since 2020, the order volume rebounded, and the total transaction volume was 3.357 billion yuan, 3.313 billion yuan, 2.694 billion yuan and 2.677 billion yuan respectively. However, the contribution of overseas business continued to grow, accounting for 26.5%, 35.4%, 47.1% and 48.0% of the total revenue, respectively.

The income of fast dog ride-hailing mainly comes from platform services, enterprise services and value-added services, among which platform services include freight, express delivery and moving, accounting for 30% to 40% of the total income; enterprise services are mainly for large and medium-sized enterprises, accounting for 50% to 60% of total revenue; value-added services are for participants in the ecosystem. Fast Dog Taxi promotes on-demand logistics in the same city by matching drivers and shippers on the platform.

From the perspective of financial situation, from 2018 to 2021, the revenue of fast dog taxi hailing was 453.1 million yuan, 548.5 million yuan, 530.4 million yuan and 661 million yuan respectively. The decline in 2020 was mainly due to the negative impact of the epidemic and the fierce competition in the online logistics market in mainland China, which reduced shipper activities on the platform. The net losses in the same period were 1.0709 billion yuan, 183.8 million yuan, 658.2 million yuan and 873 million yuan respectively, mainly due to large investment in the initial stage of the logistics business in the same city. In the same period, the gross profit margin was 23.0%, 31.6%, 34.6% and 36.6%, respectively.

In terms of equity composition, according to the financial report, before the listing, the largest shareholder 58 to home held a controlling stake of 50.51%, GoGoVan Cayman held 17.58%, Taobao China and Taobao Holdings held 12.92%, and Alibaba Group held 15.77%.

According to the prospectus, the inter-city logistics market in mainland China has great potential for growth. Next, the sinking market and overseas markets will be the focus of fast dog taxi-hailing efforts. By 2025, the company plans to provide services in more than 90 other low-tier cities in mainland China, including Guangdong, Jiangsu, Shandong, Zhejiang, Henan, Hunan, Anhui and other provinces. Moreover, the company plans to further expand its international footprint and capitalize on the growth potential of Southeast Asia, such as Vietnam and Indonesia.

In terms of expanding its corporate customer base, the company said it would further tap the logistics needs of corporate customers in emerging industries such as social ecommerce and community group buying services. In addition, it will seek to work with more car manufacturers and dealers to provide competitive prices for drivers who are interested in buying or renting vehicles and choose to join the platform.

The above development strategy will also be the intended use of Kuaigou taxi listing. In addition, the funds raised will also be used to increase investment in online advertising and promotion activities to enhance brand awareness, develop new services and products to enhance liquidity, and strengthen technology research and development capabilities. Seek strategic cooperation, investment and acquisitions in overseas markets.