Qiming's Portfolio Company Fanli.com Goes Public on Shanghai Stock Exchange
SHANGHAI,April 28,2021 -- Qiming's portfolio company Fanli.com went public today on Shanghai Stock Exchange via a reverse merger with Jiangxi Changjiu Biochemical (SHSE: 600228). The stock price is CNY 12.25 per share at the open of trading today,representing a market cap of CNY 10.085 billion.
The company used "Fanli Technology" as its stock abbreviation to highlight its technology attribute,implying that it will enhance its technological capabilities to earn a growing expectation from the capital market.
Qiming Venture Partners first invested in Fanli.com in 2011 in its first funding round and worked alongside the company for ten years. Qiming owns 4.48% of the company after the public listing.
The listing of Fanli.com is the sixth public listing in the Qiming portfolio in 2021 and the 18th public listing since 2020.
Founded in 2006,Fanli.com is a leading third-party online shopping guide platform in China,providing shopping guidance,advertising promotion and technical services to customers and merchants. As of June 30th,2020,Fanli.com has more than 260 million registered users across the App,website and WeChat mini program. Fanli.com covers various consumer scenes,including shopping,travels,dining,ticketing,education,among others.
Fanli.com has built user portraits and optimized search results with big data and artificial intelligence technology. This improved the conversion rate and optimized the operations,so that users can obtain brand discounts with greater convenience and efficiency.
Mr. Ge Yongchang,Founder and CEO of Fanli.com,once said that the company would expand its business scope from the e-commerce sector to more consumer scenes such as lifestyle. Fanli.com will provide consumer users with shopping guidance and provide brands and merchants with integrated marketing services empowered by big data technology. Fanli.com will provide more innovative services via its platforms.
About Qiming Venture Partners
Founded in 2006,Qiming Venture Partners is a leading China venture capital firm with offices in Shanghai,Beijing,Suzhou,Shenzhen,Hong Kong,Seattle,Boston and the San Francisco Bay Area.
Currently Qiming Venture Partners manages nine US Dollar funds and six RMB funds with $5.9 billion in assets under management. Since our establishment,we have invested in outstanding companies in the TMT and healthcare industries at the early and growth stages.
Since our debut,we have backed over 380 fast-growing and innovative companies. Over 130 companies are already listed on NYSE,NASDAQ,HKEx,Gretai Securities Market,Shanghai Stock Exchange and Shenzhen Stock Exchange,or achieved exit through M&A and other means. There are also over 40 portfolio companies that have achieved unicorn status.
Many of our portfolio companies are today's most influential firms in their respective sectors,including Xiaomi (SEHK:1810),Meituan (SEHK:3690),Bilibili (NASDAQ:BILI),Roborock (SHSE:688169),Gan & Lee Pharmaceuticals (SHSE: 603087),Tigermed (SZSE:300347,SEHK:3347),New Horizon Health (SEHK:6606),Zai Lab (NASDAQ:ZLAB,SEHK:9688),Venus MedTech (SEHK:2500),CanSino Biologics (SEHK:6185,SHSE:688185),Schrödinger (NASDAQ:SDGR),APT Medical (SHSE:688617),Sanyou Medical (SHSE:688085),AmoyDx (SZSE:300685),Berry Genomics (SZSE:000710),SinocellTech (SHSE: 688520),WeDoctor Group,and UBTech among many others.
