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with star capital but "illness" in its ipo in the united states, can yuanbao still tell a "new story"?

2024-09-26

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in recent years, as the global economic market has entered a new cycle of slow adjustment, it does not seem to have dampened the enthusiasm of domestic insurance technology intermediary companies to go overseas to promote ipos.

as early as 2020, huize, tianruixiang, and shuidi successfully went public in the united states, setting examples for many chinese insurance technology intermediary companies to seek incremental funds in overseas capital markets. in the following years, the pace of insurance technology companies seeking overseas listings calmed down until september 2023, when cheche technology suddenly successfully listed on the u.s. stock market through spac, reigniting the flames of chinese insurance intermediaries going overseas for listings.

entering 2024, the ipo process of domestic insurance technology intermediary companies has significantly accelerated, and a small climax of overseas listings has been set off again. in just one week between march and april this year, youjia insurance and zhibao technology were successfully listed on the nasdaq in the united states. in addition, yishengxin technology, iyunbao, and hengguang holdings have also successively submitted prospectuses to the us securities and exchange commission (sec), and their eagerness to go public is evident.

the hong kong stock market is also very lively and is also a favorite listing destination for a number of insurance technology intermediary companies. on august 6, zhongmiao holdings, a subsidiary of haier group, was listed on the hong kong stock market. in addition, shouhui technology, the parent company of xiaoyusan insurance brokerage, and yuanxin technology, a unicorn company in china's "internet + healthcare" and chronic disease management fields, have also submitted prospectuses to the hong kong stock exchange and are waiting for the final hearing.

yuanbao, an internet insurance intermediary platform that had already announced on may 30 that it had obtained permission from the china securities regulatory commission to go public in the united states, has recently made significant progress on its overseas listing path, attracting widespread attention in the industry.