Lei Jianping on June 28
Tianju Dihe (Suzhou) Technology Co., Ltd. ("Tianjudihe", also known as "Aggregate Data", stock code: 2479.HK), a comprehensive API data circulation service provider in China, is a comprehensive API data circulation service provider in China. HK) was listed on the main board of the Hong Kong Stock Exchange today, becoming the first stock of Data Elements.
Aggregate Data offered 4,818,200 H shares at an issue price of HK$83.33, raising net proceeds of approximately HK$344 million.
The aggregate data cornerstone investors were Reynold Lemkins, Yuan Feng, Xuzhou Economic and Technological Development Zone (Hong Kong), and Gold Wings, with a total subscription of US$41.04 million (about HK$320 million).
Among them, Reynold Lemkins of Ruikai Group subscribed for US$15 million (HK$117 million), Suzhou Yuanfeng Capital Management Co., Ltd. ("Yuanfeng Capital") subscribed for US$12.2 million (about HK$95.3064 million), Xuzhou Economic and Technological Development Zone (Hong Kong) subscribed US$10 million, and Gold Wings subscribed US$3.841 million.
According to the prospectus disclosure and other public information, Reynold Lemkins is an independent institution that mainly invests in the capital market, and is committed to providing long-term value and industrialization for its portfolio companies from a long-term perspective, and has invested in the Hong Kong stock IPO of companies such as 4Paradigm, Pharmacist, and Mace Health in 2023.
Since the second quarter of 2024, Ruikai Group has participated in corporate IPOs as a cornerstone investor three times, including the IPO of Yida Cloud EDA Hong Kong stock last month, and all of them have achieved good market response. At the same time, in the IPO of Yidayun, China Pacific Insurance was also introduced, and the closing stock price on the first day of listing rose by 84%.
Founded in March 2020, Parkview Capital is a policy-based equity investment platform under the Suzhou Industrial Park Management Committee, with a total fund size of 22 billion yuan, 20 billion yuan for the industrial investment fund of the park and 2 billion yuan for the angel fund of the park. Parkfun Capital aims to become an investment and financing platform for high-tech industries in the park and an incubator for angel investment institutions in the park, giving full play to the radiation and driving role of the state-owned capital platform, and guiding social capital to gather in the park's two leading industries and strategic emerging industries such as biomedicine and health, nanotechnology application and new materials, artificial intelligence and digital industry, new energy and green industry.
The fundraising of aggregate data is used in four aspects: 1. Comprehensively upgrade the existing API product portfolio in the API market; 2. Upgrade the existing products and services of the data management solution; 3. R&D of data security and privacy protection technologies, and build a full ecosystem of data rights confirmation, secure data storage, trusted data transmission and collaborative production; 4. Working capital and general corporate purposes.
The Hong Kong public offering portion of Aggregate Data was oversubscribed by 618 times.
The opening price of aggregate data was HK$113, an increase of 35.6% from the issue price; As of now, the company's market capitalization exceeds HK$5 billion.
Zuo Lei, Chairman, Chief Executive Officer and Executive Director of Aggregate Data, said: "Today's successful listing on the Hong Kong Stock Exchange is a new beginning for Tianju and marks the company's official entry into the international capital market. ”
Zuo Lei said: "We are very grateful to all our employees for their hard work over the years, and also thank leaders, shareholders, investors, customers and partners at all levels for their trust and support. In China's growing digital economy, we will continue to empower institutions to securely connect and use data through APIs, unlock the economic value of data, and promote the development of China's information technology. We look forward to taking the listing as an opportunity to give full play to our competitive advantages and continue to create greater value for shareholders and investors." ”
The annual revenue is 440 million
Aggregate Data is a comprehensive API data circulation service provider, providing standard API services and customized data management solutions. Since the launch of the company's product API marketplace in June 2011, more than 770 proprietary APIs have been developed. In 2023, the API Marketplace processed more than 120 billion API requests.
Our customers include Tencent, Alibaba, Baidu, NetEase, Meituan, China Mobile, China Unicom, China Telecom and many other Internet companies, application developers and individuals.
In June 2020, Tianjudihe began to provide data management solutions. With its comprehensive API data circulation service capabilities, Tianju provides solutions integrating API management, data governance, data application, data security and privacy-preserving computing through its products (including APIMaster, DataArts, QuickBot, SmartShield and AnchorChain) to assist institutions in their digital transformation.
The market position of Tianju is mainly due to its unique industry insights and competitive product and service advantages. Tianjuhe has also been recognized by the state for many times and participated in the formulation of industry standards, such as the communication industry standard "Technical Requirements for External Data Management Platform for Trusted Data Services".
Since its establishment, it has accumulated 26 core technologies, mainly reflected in API lifecycle management, data governance, robotic process automation, privacy-preserving computing and blockchain. As of December 31, 2023, the company has been granted 50 trademarks, 64 patents and 98 registered software copyrights.
According to the prospectus, the revenue of aggregate data in 2021, 2022, and 2023 will be 260 million yuan, 329 million yuan, and 441 million yuan respectively; The gross profit was 89.91 million yuan, 108 million yuan and 125 million yuan respectively.
The revenue of Tianjudihe is mainly derived from the API marketplace, including queries, SMS notifications, recharges, and revenue from data governance solutions.
In 2023, the revenue from inquiries will be 271 million yuan, accounting for 61.6%; the revenue from SMS notifications was 64.54 million yuan, accounting for 14.6%; The revenue from recharging was 6.17 million yuan, accounting for 1.4%, and these revenues were all revenue from the API market, accounting for 77.6% in total.
In 2023, the revenue from data governance solutions will be 99.01 million, accounting for 22.4%.
The profits of Tianjudihe in 2021, 2022 and 2023 will be 45.97 million yuan, 41.28 million yuan and 35.06 million yuan respectively.
As of December 31, 2023, aggregate data held cash and cash equivalents of $124 million.
JD Technology is a shareholder
In the pre-IPO investment, Tianjudi received proceeds of approximately RMB277 million from capital injections (i.e., Series A investment, Series B investment, Series C investment and Series D investment), with investors including JD Technology, Tahoe Growth, China Cultural Investment and other institutions and individuals.
Among them, Tianjudihe announced in 2015 that it had received 218 million yuan in Series B financing, led by China Cultural Industry Investment Fund, followed by JD.com, Tahoe Venture Capital, natural persons Qiu Jianqiang and Hua Yong.
In December 2016, Tianjudihe announced that it had received 360 million yuan in Series C financing, led by Qiu Jianqiang, with Yuan Yonggang, Tahoe Venture Capital, Donghe Capital, and early investors participating in the investment.
In June 2024, Tianjudihe received a letter of intent from the Suzhou branch of a Chinese commercial bank. The commercial bank will provide a total of no more than $400 million in bank loans to the Company in the next three years. Loans can be secured by credit and fixed assets, and the interest rate is determined according to the prevailing market interest rate.
The executive directors of aggregate data are Zuo Lei, Wang Haojin, Lin Shan, and Yang Yanjun; The non-executive directors are Qiu Jianqiang and Gao Yuan; The independent non-executive directors are Huang Xuexian, Chen Xinhe and Li Chunhui.
Before the IPO, the company's shareholding structure
Before the IPO, Zuo Lei directly held 43.59% of the shares, controlled 1.84% of the shares through Liuju Liuhe, and controlled 7.75% of the shares through Yiju Liuhe, holding a total of about 53.33% of the share capital of Aggregate Data, JD Technology held 16.48% of the shares, and Qiu Jianqiang held 8.91% of the shares.
After the IPO, the company's shareholding structure
After the IPO, Zuo Lei directly held 39.4% of the shares, controlled 1.66% of the shares through Liuju Liuhe, and 7.01% of the shares through Yiju Liuhe, and held a total of about 48.21% of the equity of the aggregate data share capital.
Jingdong Technology holds 14.89% of the shares, Qiu Jianqiang holds 8.06% of the shares, Hua Yong holds 2.81% of the shares, Zhou Lijun holds 1.88% of the shares, and Suzhou Guofa No. 1.47% of the shares.
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