Only three years after its establishment, DaMai has entered the IPO fast lane!

In recent months, the cross-border "listing wave" has become popular again . First, Sanboshuo and Santai successfully passed the review, and recently Minbao Optoelectronics rushed to IPO, and Huabao New Energy, the "first portable energy storage stock", successfully landed on the Shenzhen Stock Exchange's Growth Enterprise Market ...

The cross-border circle is accelerating its move towards the capital market . Recently, a major company started listing guidance.

First in Europe and America, then in China, Star Card is preparing for listing three years after its establishment

According to the official website of the China Securities Regulatory Commission, in early September, Shenzhen Star Card Technology Co., Ltd. ( hereinafter referred to as "Star Card Technology") launched its first public offering of shares , officially launched A-share IPO guidance, and recently filed for record with the Shenzhen Securities Regulatory Bureau.

In August 2019, Star Card Technology was officially established , became a joint-stock company in June 2022, and started listing guidance in 2022. In just three years, it has been listed, and is the youngest among the companies receiving guidance in the same batch .

It is understood that Star Card Technology is a professional comprehensive service provider of automotive intelligent diagnostic products and testing software, which is committed to the research and development and services of automotive intelligent diagnostic products.

Just one and a half years after its establishment , it created the industry's best modular diagnostic equipment, launched the industry's first domestic vehicle inspection equipment, and was the first to launch the world's largest ( 13-inch) tablet diagnostic equipment . It also developed comprehensive diagnostic technologies such as remote diagnosis , making great progress in automotive inspection technology .

In the field of research and development, Star Card Technology has obtained a number of patents and software copyrights . Its strong independent research and development capabilities have led to a sharp increase in the number of its products . At present, Star Card products have covered five major sectors: global maintenance technician diagnostic tools, global maintenance technician diagnostic equipment, owner detection tools, tire pressure tools and sensors, and other functional maintenance tools, with a wide product coverage .

According to its official website, in 2020, Star Card Technology began to build three major sales channels : overseas, online and domestic, and its products were sold to more than 120 countries and regions around the world. In 2020, it achieved sales of more than 100,000 devices , with particularly outstanding performance in Europe and Southeast Asia . The annual sales also increased nearly 30 times compared to 2019 .

In fact, Star Card Technology’s main battlefield is Europe and the United States, but due to the impact of the epidemic, it later simultaneously developed the domestic market.

In the European and American markets, the brand reputation of THINKCAR products is gradually growing . After successfully entering large chain retail stores such as Amazon, Walmart , Bestbuy Equipment, Homedepot, Lowes, O'relly , Autozone, ISN, etc. , the sales network has been fully rolled out .

As a major auto parts brand on Amazon and Walmart platforms , THINKCAR, a product of StarCar Technology, has performed well on major cross-border e-commerce platforms . On Amazon, the number of reviews for popular products exceeded 2,000 .

The vast sales market also puts higher demands on its supply chain . For this reason, Xingka has established its own supply chain system, a 2,000-square-meter warehouse and 5 assembly lines , which effectively guarantee both inventory and quality .

In 2019 , StarCar Technology Co., Ltd. released its first product , THINKCAR 1S . In order to support subsequent greater R&D expenditures, it launched a crowdfunding campaign on the US crowdfunding website Kickstarter , and the crowdfunding amount exceeded 1 million. In the same year, after the release of its second product, THINKDIAG , the crowdfunding amount exceeded 1 million again .

In 2022, THINKCAR Technology announced the launch of new energy intelligent detection and diagnostic equipment. In February of this year, THINKCAR also launched a new crowdfunding product THINKCAR OBD II on KickStarter, calling it the world's smallest but most powerful automotive diagnostic tool.

Star Card is ambitious to conquer Europe

As we all know, affected by inflation and the conflict between Russia and Ukraine, the worst hit overseas market this year is Europe.

Data from September showed that the eurozone PMI ( Purchasing Managers' Index ) hit a 20-month low, remaining below the boom-bust line for three consecutive months. The contraction of Germany, the largest economy, intensified , while the UK services PMI fell below the boom - bust line, the lowest since January 2021. The European market is not optimistic .

Many sellers in the European market complained to Entech about the market, and many sellers said they had fled Europe and moved to the North American or Southeast Asian markets, or even completely suspended their cross-border business.

It is worth noting that despite the continued downturn in the European market, Star Card Technology refused to accept the challenge and chose to face it head-on.

In September this year , Star Card Technology announced that some members from the overseas business unit will go to Europe to carry out international business.

In fact, with the increasing sales of automobiles in recent years , the demand for auto parts products has inevitably increased. However, since last year, the world has been in a dilemma of semiconductor shortage. This year, global inflation has continued to rise. The supply crisis has also caused costs to continue to rise, and the increase in car prices has become a reality.

It is reported that due to the impact of the financial crisis and other factors, overseas consumers, especially Europeans, have reduced their demand for new cars and turned their attention to repairing and maintaining existing cars. Therefore, the demand for auto parts is expected to be higher than in the past.

The overseas auto parts market is continuing to gain popularity. According to the latest "Amazon Benchmark Report 2022" released by market research firm Perpetua , purchases of auto parts products on Amazon's European market increased by 89% in the second quarter of this year .

In addition, the auto parts and accessories category has always been a hot-selling item on eBay . Its data shows that there are currently more than 500 million auto parts for sale on eBay. Sales in this category increased by nearly 30% last year , and the European market performance is second only to the United States .

According to eMarketer's forecast, global e-commerce sales of automobiles and their accessories will increase by 30.1% in 2022, becoming the fastest growing category, and Europe's market share will also reach a new high.

It can be seen that auto parts may become one of the favorable products in the European market this year. Of course, the market is full of unknowns, and it will take time to verify whether Star Card Technology has made the right move.

Tan Bin, president of Star Card Technology , said that setting out to Europe is an important step in Star Card's global market deployment. The goal of the European subsidiary is to continue to provide value to European customers , expand the company's sales share in the European market , and ultimately realize the company's global strategic deployment .

Yan Qizhi, vice president of Star Card Technology , emphasized that by the end of December this year, the company must achieve major breakthroughs in seven areas , including new energy diagnostic equipment research and development, after-sales service, quality monitoring, video remote diagnosis service platform, independent station mall, development process, and APP innovation . The company must seize market opportunities, expand territory, and reach new heights .

Datong holds the overseas market, what are the chances of Xingka winning?

As both are big sellers of cross-border auto parts, Xingka Technology and Daotong Technology are strong competitors in the market, but Daotong Technology is far ahead of Xingka.

Founded in 2004 and listed on the Science and Technology Innovation Board of the Shanghai Stock Exchange in 2020, Daotong Technology is also focused on the research and development, production, sales and services of automotive intelligent diagnosis, testing and analysis systems and automotive electronic components. It is a professional automotive intelligent diagnosis, testing and TPMS (tire pressure monitoring system) product and service comprehensive solution provider.

Overseas, Daotong Technology's products are sold in more than 70 countries and regions including the United States, Germany, the United Kingdom, Australia, etc. In order to promote market expansion, it has also established a number of international demonstration stations in many places in the United Kingdom and the United States .

In June this year , Daotong Technology's AC pile products were launched on the global mainstream e-commerce Amazon US site. It is understood that since Daotong Technology's new energy charging pile products were launched in 2022, they have quickly received orders from North America, Europe, Asia and other regions and have gradually achieved delivery.

It is worth mentioning that Daotong Technology's multiple series of AC and DC charging pile products have also passed the ERTEP project of NV Energy , a Nevada power company in the United States , becoming the only supplier brand of charging pile products currently selected . It is understood that the total investment of the ERTEP project is US$100 million, with an investment cycle of 3 years. The first phase of the AC pile project will be subsidized by US$15 million, including related equipment procurement and project construction costs.

From the above, it can be seen that Daotong Technology has extremely strong competitiveness in overseas markets. Xingka Technology not only has to face the negative consumer market, but also has to "share food" with Daotong and other overseas auto parts industry jackals and tigers. The road ahead is extremely dangerous.

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