Futu Insights reported on May 15, this Monday $EDIANYUN (02416.HK)$ Announced that the offering will take place from May 15 to May 18. The company plans to issue 58,575,000 shares, of which 5,858,000 shares (10%) will be offered publicly and 52,717,000 shares (90%) will be part of the international offering. The issue price is between HKD 10-12 per share, with a board lot of 500 shares, and it is expected to list on May 25.
Company Overview
Yidian Cloud primarily provides one-stop office IT services to enterprise clients (mainly SMEs) via a subscription model. Enterprise IT services refer to comprehensive services enabling companies to operate using digital tools and resources, including computing hardware, network configurations, application software, and related maintenance services. The company’s revenue mainly comes from pay-as-you-go integrated office IT solutions, equipment sales, SaaS, and other services.
Currently, China’s enterprise office IT services market is still dominated by firms operating under the direct buyout model. The company primarily competes in the rapidly growing integrated office IT solutions market, where its penetration rate in the enterprise office IT services market increased from 0.3% in 2017 to 3.3% in 2021, and is expected to further grow to 16.9% by 2026. According to Frost & Sullivan, in terms of 2021 revenue, Yidian Cloud held a 0.6% market share in the enterprise office IT services industry. According to the same source, in 2021...