Huitongda Network Co., Ltd. (hereinafter referred to as “Huitongda”, stock code: 09878.HK) - a portfolio company of Yintai Group - was officially listed on the main board of the HKEX on February 18, becoming the first stock on the HKEX to conduct business in China’s lower-tier market and to be listed in the Year of the Tiger.

Since its founding in 2010, Huitongda has been committed to providing goods and services to business customers in China’s lower-tier retail market. It now has more than 160,000 member stores, 10,000 suppliers, and over 20,000 wholesale customers nationwide. According to a report by Frost & Sullivan, based on the transaction value of the commerce business in the lower-tier market in 2020, Huitongda was ranked first among commerce platforms serving business customers in the retail industry in China, and is the market leader.

Data for the first nine months of 2021 show that all of Huitongda’s businesses continued to grow rapidly; gross margins, in particular, increased by 50% year on year, and services revenue rose by 80% year on year. It is forecast that by 2025, the total size of China’s lower-tier retail market for durable goods and agricultural means of production will grow to RMB7.3 trillion, or at a CAGR of 9.4%.

In recent years, Yintai Group has invested over RMB20 billion in more than 80 companies, and is committed to promoting technological innovation and industrial transformation. Of these, 15 companies have become unicorns worth more than USD1 billion, and more than 10 companies have been listed. The scope of investment covers smart logistics, intelligent finance, smart retail, and new energy vehicles, among others. These include Cainiao Network Technology, MYBank, Li Auto, Ant Group, ByteDance, Bank of Hangzhou Consumer Finance, ABOGEN, and UBOX.