On February 18, Huitongda Network Co., Ltd. (referred to as "Huitongda", stock code: 09878.HK) officially landed on the Hong Kong Stock Exchange.

　　It is reported that Huitongda, founded by Wang Jianguo and serving as chairman and co-founder Xu Xiuxian as CEO, has set its sights on the sinking market that is still in the "blue ocean" since its establishment in 2010, and is committed to serving corporate customers in the retail industry. Provide goods and services.

According to the Frost & Sullivan report, in terms of the scale of trading business facing the sinking market in 2020, Huitongda ranked first among the trading platforms serving corporate customers in the retail industry in China, occupying the "leading" position.

　　The two major businesses go hand in hand, and the SaaS business has huge potential

　　"At the beginning of Huitongda's establishment, through a large number of visits and researches, we found that China's sinking market is both a blue ocean market and a shallow ocean market. We cannot 'copy' the city's Internet and e-commerce models into it. Relying on the 'pearls' scattered in the townships - our member retail stores, we will provide them with better products and services, empower them, and help them do big business."

　　From Wang Jianguo's public interviews, it can be seen that Huitongda's sinking market strategy determined in 2010 is quite forward-looking today.

　　Using the idea of ​​"empowerment" to operate and serve retail enterprise customers, the prospectus shows that Huitongda has gradually accumulated and focused its business into two parts: one is to operate the transaction business of supply chain commodities, and the other is to include store SaaS + service and Merchant Solutions' service business.

　　In the transaction business, Huitongda's commodity categories have expanded from the original household appliances to the current six categories of household appliances, consumer electronics, agricultural production materials, transportation, beverages, and home building materials.

For the nine months ended September 30, 2021, the total number of merchandise SKUs exceeded 175,000.

　　As for the service business, as of September 30, 2021, Huitongda has provided services to 160,000 member stores in 21,000 towns and 21 provinces in China, including more than 70,000 SaaS product users and more than 15,000 paid SaaS+ users. Family.

　　According to the data of the first nine months of 2021, Huitongda's various businesses have maintained rapid growth, with gross profit increasing by 50% year-on-year, and service business revenue increasing by 80% year-on-year.

　　On the other hand, it is expected that by 2025, the total retail sales of durable consumer goods and agricultural production materials in my country's sinking market will increase to 7.3 trillion yuan, with a compound annual growth rate of 9.4%.

Backed by the tuyere, Huitongda, which has a first-mover advantage and an industry-leading position, still has a very large potential space.

　　With the blessing of shareholders and cornerstone lineup, the market ushered in the "first share" of double materials

　　Huitongda landed on the Hong Kong Stock Exchange this time, and at the same time became the "first stock" of the Hong Kong Stock Exchange in the sinking market and the Lunar New Year of the Tiger.

　　According to public information, Huitongda’s shareholder list also includes “all-star lineups” such as Alibaba China, SDIC Chuangyi, China Life Insurance, National Research Fund, China Renaissance, Green Capital, and Jiangsu Coastal Fund.

　　Huitongda launched its global offering on January 31, introducing 6 companies including Skyworth Group (00751), SenseTime-W (00020), Jinglin Asset Management, Gold Mantis Construction (002081.SZ), SandTalk Capital and Heilan Group For cornerstone investors, the lock-up period is 6 months.

According to the latest news, the public offering of Huitongda Network (09878) was subscribed 1.67 times.

　　According to industry analysts, the introduction of the six cornerstones is a double recognition of the long-term value of Huitongda by both industrial capital and professional capital.

"There are professional investment institutions such as Jinglin Asset Management, as well as industrial partners such as Skyworth and SenseTime, who give Huitongda the dual support of capital and business."

　　This is also in line with the consistent judgment of Xu Xiuxian, president of Huitongda: to focus on the upstream industry chain and digital smart retail of the terminal on the other.