New stock news | Boche Holdings' Hong Kong IPO prospectus has become invalid

Boche Holding Limited (Cayman) (hereinafter referred to as "Boche Net") submitted its Hong Kong stock prospectus on September 30, 2025, which expired on March 30, 2026, six months after submission. CITIC SEC and FOSUN INTL Capital were its joint sponsors at the time of submission. The prospectus shows that Boche Net is China's largest accident vehicle auction platform, acting as a mediator connecting upstream accident vehicle sources with downstream car buyers. According to data from Wiseconsulting, based on trading volume in 2024, the company ranked first in the Chinese accident vehicle auction industry, with a market share of approximately 31.4%. Relying on valuation infrastructure, as well as the integrated auction model of Wuxi Online Offline Communication Information Technology Co., Ltd., the company connects upstream accident vehicle sources (mainly insurance companies) with downstream accident vehicle buyers (mainly certified repair shops and licensed car dismantling plants) through the accident vehicle auction platform. In addition to accident vehicle auctions, the company also connects upstream used vehicle sources with downstream used vehicle buyers, facilitating used vehicle transactions through auctions. According to data from Wiseconsulting, based on auction volume in 2024, the company is the third largest B2B used vehicle auction platform in China (market share approximately 12.0%), with the B2B used vehicle auction market accounting for approximately 8.0% of the total used vehicle trading volume in 2024.