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after 7 months, flashback technology once again impacted hong kong stock ipos.

in the domestic second-hand mobile phone recycling market, although it is the "third" player in the industry, flashback technology's market share is not high, only 1.4%. wanwu xinsheng (aihuishou) and zhuanzhuan ranked first and second with market shares of 9.1% and 8.4% respectively.

in addition to the gaps within the industry, qi finance has noticed that flashback technology is still in a state of loss since 2021, with revenue growth slowing down and gross profit margin continuing to decline. at the same time, flashback technology, which has failed to go public three times, is now shouldering another gambling task, so the urgency of the ipo is self-evident.

loss exceeds 280 million in three and a half years, gross profit declines year by year

on february 26 this year, flashback technology submitted a statement to the hong kong stock exchange for the first time, with zero2ipo capital as the exclusive sponsor. because it failed to pass the hearing within six months, its prospectus became invalid on august 26.

on september 17, flashback technology submitted its report to the hong kong stock exchange for the second time and disclosed its latest results for the first half of 2024.

the prospectus shows that from 2021 to 2023, flashback technology achieved revenue of 750 million yuan (unmarked, all in rmb), 919 million yuan and 1.158 billion yuan respectively; the corresponding net losses were 48.71 million yuan and 99.08 million yuan respectively. and 98.27 million yuan, with an average annual compound growth rate of approximately 26%.

in the first half of 2024, flashback technology recorded revenue of 577 million yuan, a year-on-year growth of 11%, and a corresponding net loss of 40.126 million yuan. in other words, although the company's revenue is growing, its year-on-year growth rate has been declining, and the company's net loss in three and a half years exceeded 280 million yuan.