On 28 May 2024 (Beijing time), EDA GROUP HOLDINGS LIMITED (“EDA”) listed on the Main Board of The Stock Exchange of Hong Kong (stock code: 02505). In the IPO, EDA offered approximately 97,625,000 shares at HK$2.28 per share, raising net proceeds of approximately HK$192.18 million (assuming the over-allotment option is not exercised). The joint sponsors included CMB International.
Founded in 2014, EDA is a one-stop, end-to-end supply chain solutions provider for e-commerce sellers. According to Frost & Sullivan, EDA ranks sixth among China's major B2C export e-commerce supply chain solution providers that mainly use the overseas warehouse model, with a market share of about 0.5%. Its supply chain solutions include “headhaul” international freight and “last-mile” fulfilment services, integrated into its self-developed EDA platform with a built-in suite of digital supply chain management tools. As of 31 December 2023, EDA's sea freight volume had reached 4,589 TEUs, and it had delivered 6 million orders to end customers.
According to the EDA prospectus, its revenue for FY2021, FY2022 and FY2023 was RMB 630 million, RMB 710 million and RMB 1.21 billion respectively, with net profit for the year of RMB 46.411 million, RMB 36.292 million and RMB 69.403 million respectively.
For this IPO, the WeCarbon team and Shanghai WeCarbon Pugu Management Consulting Co., Ltd. were honoured to provide environmental, social and governance (ESG) advisory services for EDA's listing. WeCarbon's capital markets partner Pugu Advisory provided valuation services to EDA. As a long-term capital markets partner of EDA, we will continue to support its growth.