Cross-Border E-Commerce Firm Zibuyu Applies Again for Hong Kong IPO

According to an announcement by the Hong Kong Stock Exchange (HKEx) on Monday, Zibuyu Group has submitted an application for listing to its main board, with Huatai International and ABC International as co-sponsors. The company previously submitted an application to the HKEx on June 30 last year, which has now been deemed invalid.

Since its establishment in 2011, Zibuyu focuses on selling clothing and shoes through third-party e-commerce platforms. According to Frost & Sullivan’s data, the company ranks third domestically among all cross-border merchants in terms of gross merchandise volume (GMV) in 2020, occupying a 0.4% market share.

In addition, in terms of GMV generated in North America in 2020, the company ranks first among all Chinese cross-border merchants, occupying a 0.5% market share.

The advantages of Zibuyu include a strong design team that is able to quickly identify trends and meet changing customer needs, rich experience in digital management and supply chain integration.

Zibuyu also disclosed that from 2019 to 2021, the company’s annual revenue was 1.429 billion yuan ($226 million), 1.898 billion yuan and 2.347 billion yuan respectively, and its annual profits were 81.109 million yuan, 114 million yuan and 201 million yuan.

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Since 2020, many cross-border e-commerce firms have tried going public. Kuajingtong, New Century Information Technology, and LightInTheBox were listed successively. In the first half of 2021,, Zhiou Technology, Suntek Corps and Meetsocial Group submitted IPO also submitted applications to the HKEx or Shenzhen Stock Exchange.