First day of the IPO | Qiniu Smart (02567) first listed and opened 41.82% lower in early trading

The Zhitong Finance App learned that Qiniu Smart (02567) was first listed. The announcement showed that each share was priced at HK$2.75, and a total of 160 million shares were issued, with a total of 1,000 shares per lot, with a net proceeds of approximately HK$367.2 million. As of press release, it decreased by 41.82% to HK$1.6, with a turnover of HK$25.773,200.

According to reports, Qiniu Smart is one of the first platforms to provide audio and video cloud services in China, and is committed to becoming the world's leading one-stop scenario-based intelligent audio and video service provider. The company mainly provides audio and video PaaS services (mPaaS) and application platform as a service (aPaaS). The company is one of the few companies in China that has the ability to develop comprehensive and high-performance mPaaS products, and has integrated and covered all aspects of the audio and video business.

According to iResearch, in terms of revenue in 2023, the company is the third largest audio and video PaaS service provider in China, with a market share of 5.8%; in terms of 2023 APaaS revenue, the company is also the second-largest audio and video aPaaS service provider in China, with a market share of 14.1%.