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investor network zhang jingyi

recently, shouhui group co., ltd. (hereinafter referred to as shouhui group/the company), a domestic online life insurance intermediary service provider, once again submitted a prospectus to the hong kong stock exchange, with cicc and huatai international serving as joint sponsors.

it is worth noting that shouhui group first attempted to list on the hong kong stock market in january this year. this is the second time it has submitted an application for listing, and it is less than a month since the first submitted materials expired.

the reason behind shouhui group's eagerness to go public may be that the bet agreement is always "hanging over its head". according to the agreement, the withdrawal rights of some investors are suspended when shouhui group first submits its listing application until september 30, 2025 or 18 months after the first submission of the application. if the listing application is withdrawn, rejected or returned, the withdrawal rights will be automatically restored.

in the current fiercely competitive insurance intermediary market, the total premium of china's life insurance intermediary market will reach 237 billion yuan in 2023, accounting for 6.3% of the total premium of china's life insurance market. in this market, shouhui group ranks eighth with a market share of only 2.9%.

in addition, shouhui group is also facing challenges such as the trend of disintermediation, a single business structure, and unstable revenue and net profit. the company's platform xiaoyusan insurance brokerage co., ltd. has been repeatedly punished by regulators and experienced a "power grab" storm among senior executives. all of these factors have added uncertainty to the company's ipo road.