The bell is about to ring, and another big seller is on the market!

After big sellers such as Zhiou Home Furnishing and Suntech Power Holdings were listed on the Shenzhen Stock Exchange, Santai Holdings' listing process will also usher in a phased victory.

On September 11, Shenzhen Santai E-Commerce Co., Ltd. (hereinafter referred to as "Santai Co., Ltd.") issued an announcement to remind that the company's listing application was reviewed and approved by the Shenzhen Stock Exchange's Growth Enterprise Market Committee and has been approved for registration by the China Securities Commission.

On September 19, Santai Co., Ltd. officially opened subscription and issued 118.46 million new shares to the public. The stock code is 301558. The GEM listing price is 7.33 yuan per share. The issue price-earnings ratio is 45.19 times, and the subscription limit is 22,500 shares.

Yien.com learned that Santai Co., Ltd. was established in 2008. The company's main business is cross-border e-commerce export business and third-party export cross-border e-commerce logistics business. Its products are mainly sold through Amazon, eBay, AliExpress, Wish, Lazada, Shopee and other platforms, covering a wide range of business.

Currently, there are 830,000 SKUs on sale , with nearly 100 subcategories. Products in categories such as hobbies and home life are popular, accounting for 36.96% and 25.28% of the company's revenue respectively. Logistics business is the company's second pillar industry, accounting for 69.78%, 80.40% and 82.80% of revenue in 2020-2022 respectively.

Europe is the main market for San Tai Shares, accounting for 30% of its revenue. However, at present, the revenue from the European market is showing a downward trend, while the revenue from North America and other markets is showing a continuous increase, among which the sales revenue from the Southeast Asian market has increased significantly. Amazon and eBay are the company's main sources of revenue, accounting for 31.11% and 15.83% of its revenue in 2022, respectively. The sales revenue from Wish has plummeted, accounting for 7.38%, 2.18% and 0.48% from 2020 to 2022, respectively.

Similar to the experience of many big sellers, the revenue and profit of Santai Co., Ltd. have fluctuated due to negative shocks. From 2020 to 2022, the revenue was 1.993 billion yuan, 2.266 billion yuan and 1.588 billion yuan respectively, which increased first and then declined. The net profit was 214 million yuan, 156 million yuan and 104 million yuan respectively, which continued to decline.

By 2023, its net profit has resumed growth. According to its performance forecast data, in the first nine months of this year, the company's net profit before deducting non-recurring items is expected to be between 107 million yuan and 119 million yuan. It can be seen that the profitability of Santai Shares is gradually recovering.

But looking at Santai Shares' road to listing, it can be said to be full of twists and turns.

In June 2021, the IPO application was accepted. During this period, it went through three rounds of inquiries and three suspensions of review. It also experienced hardships and doubts such as expired financial information, high premium for asset restructuring, differences in gross profit margin and profit change trends, and the company did not produce products independently but purchased from suppliers for sale. Now it has borne fruit and is about to ring the bell, ushering in the dawn of victory.

Three State Shares

IPO

Big Sell