On June 19, 2023, the IPO application of Bangsun Tech has been accepted by the Sci-Tech innovation board.
Zhejiang Bangsun Tech Co., Ltd. (referred to as "Bangsun Tech"), founded in 2010, is headquartered in Hangzhou, China.
Bangsun Tech is a provider of big data infrastructure software development and related application solutions. The company focuses on the technological research of real-time intelligent platforms for big data and has independently developed core technologies such as real-time computation of time series streaming data, real-time computation of dynamic temporal graph, real-time intelligent decision-making based on three-core fusion, rapid iteration of model-based artificial intelligence, and real-time data governance. The company has also developed independent platforms including FlowCube, GraphCube, PipeACE, three-core decision-making, association graph, and machine learning platforms, covering data governance, computational analysis, and intelligent decision-making functions of real-time intelligent platforms for big data. Based on these independently developed platform software with cross-industry standardized applications, the company has formed application solutions and technical services for various scenarios in the fields of smart finance, network security, and more. These solutions help customers achieve real-time, high-concurrency, and high-precision processing and analysis of big data, enabling efficient decision-making and prediction, and maximizing the value of "hot data."
According to the information disclosed in the prospectus, the company faces risks of being unable to generate profits in the short term and the continuous increase of accumulated losses. During the reporting period, the company's main operating revenues were RMB 100,855.59 thousand, RMB 195,522.24 thousand, and RMB 270,023.5 thousand, with net losses attributable to the owners of the parent company of RMB -30,420.5 thousand, RMB -79,111.2 thousand, and RMB -80,577.2 thousand, respectively, indicating a lack of profitability. As of December 31, 2022, the company's accumulated losses amounted to RMB 101,688.3 thousand. The main reasons for the company's failure to generate profits are: firstly, the company has maintained a high proportion of research and development investment during the reporting period; secondly, the continuous increase in manpower and material resources investment required for market promotion, marketing network construction, and delivery and operation services in the early stage of industrialization; thirdly, the company has accrued a large amount of share-based payment expenses for equity incentives; fourthly, the company's operating revenues have not reached an economic scale, and the gross profit margin is in a climbing stage, with operating gross profit being insufficient to cover cost expenses.
Bangsun Tech's big data solutions have been widely applied in the fields of financial risk control, anti-fraud, and anti-money laundering, among others. According to the information disclosed in the prospectus, the company has experienced rapid growth in operating revenue during the reporting period, achieving a compound annual growth rate of 63.63%. This growth can be attributed to the deep penetration of the company's core products in the smart finance and cybersecurity sectors.
In line with its development plans, Bangsun Tech aims to continue consolidating and expanding its competitive advantages in intelligent risk control products, particularly in areas such as anti-fraud and anti-money laundering. To achieve this, the company plans to focus on technological upgrades, iterative development, and functional expansion. It will also explore and expand its product line in other application scenarios within the smart finance field, aiming to increase revenue growth, enhance customer experience, and improve customer loyalty.
Additionally, Bangsun Tech intends to further expand the application of its core technology products in areas such as cybersecurity, transportation, and information communication. By doing so, the company aims to expand its customer base and market space, thus driving sustained high-speed growth in its business revenue.
Best wishes for the successful IPO of Bangsun Tech!
IPO Link
http://listing.sse.com.cn/renewal/xmxq/index.shtml?auditId=1850&anchor_type=0