New stock news | Opening Time Era delivers listing to Hong Kong Stock Exchange. The platform has over 375,000 registered auto service stores.

According to the disclosure on April 2 by the Hong Kong Stock Exchange, Kaisi Era Holdings Limited (referred to as Kaisi Era) has submitted a listing application to the main board of the Hong Kong Stock Exchange, with CICC as the exclusive sponsor. Company Introduction: The prospectus shows that Kaisi Era is a leading digital intelligence platform dedicated to empowering China's automotive aftermarket. The company's platform builds AI-enabled digital infrastructure for participants in the automotive aftermarket value chain, helping them intelligently and efficiently provide products and services and complete transactions. Kaisi Era's platform has always focused on serving enterprises. According to Frost & Sullivan, based on the annual GMV, cumulative SKU quantity, and registered automotive service store quantity calculations by 2025, Kaisi Era ranks first in China's automotive aftermarket enterprise empowerment platform. As of December 31, 2025, the company's platform has over 375,000 registered automotive service stores, distributed in 329 cities in China, covering over 48 million automotive SKUs. In 2025, the company's registered automotive service stores achieved approximately 3.6 million monthly average visits through the company's platform. In 2025, the platform's intention orders and completed orders reached 22.5 million and 11.3 million respectively. China has a vast but highly fragmented automotive aftermarket. With years of deep cultivation in the industry, the company has accumulated a huge proprietary dataset that includes rich industry insights. Kaisi Era is leading the digital transformation of China's automotive aftermarket through proprietary data and core technologies including AI, big data analytics, and cloud-native infrastructure. By digitizing and intelligentizing core processes such as auto parts identification, procurement, order fulfilment, and service delivery, it promotes efficient collaboration between upstream and downstream participants while significantly increasing transparency, operational efficiency, and scalable expansion potential for the entire industry. Leveraging China's strong supply chain capabilities and based on the company's AI application capabilities and business models validated in the domestic market, Kaisi Era believes the company has a platform with global adaptability that will lay a solid foundation for international expansion. The company has built a multi-party ecosystem network that connects all types of participants in the automotive aftermarket, including hundreds of thousands of OEMs and auto parts manufacturers, auto parts dealers, automotive service stores, and hundreds of millions of car owners. The company develops business and solutions to address their various pain points. Financial Data: Revenue In the fiscal years 2023, 2024, and 2025, the company achieved revenues of approximately RMB 685 million, 742 million, and 930 million, respectively. Gross Profit In the fiscal years 2023, 2024, and 2025, the company recorded gross profits of approximately RMB 185 million, 220 million, and 263 million, respectively. Gross Profit Margin In the fiscal years 2023, 2024, and 2025, the company recorded gross profit margins of 27.0%, 29.7%, and 28.3%, respectively. Industry Overview: Overall, the global automotive aftermarket is a mature industry, with its GMV expected to grow from RMB 99,721 billion in 2025 to RMB 115,461 billion in 2030, with a compound annual growth rate of 3.0%. Among these markets, China's automotive aftermarket is expected to maintain the highest growth rate, while North America holds the largest market share. In terms of auto parts types, complete vehicle parts remain the backbone of the Chinese market, with its scale expected to grow from approximately RMB 800.7 billion in 2025 to nearly RMB 1,099.6 billion in 2030, maintaining a stable share of 48.9% and continuing to lead the market share. In this segment, the demand for three-electric system maintenance driven by the popularization of NEVs is becoming an important growth driver. From the perspective of GMV, in the 2025 Chinese automotive aftermarket, the enterprise-oriented automotive aftermarket sector dominates, accounting for 75.2% of the overall market share and is a major driver of the overall market size. Looking ahead, the industry is preparing to adopt a more digital and transparent operating model to effectively overcome the inefficiencies of traditional "layered distribution" models. With the continuous growth of aftermarket demand for NEV components, it is expected that the total GMV of the enterprise-oriented automotive aftermarket in China will exceed RMB 1,660 billion by 2030, with a predicted compound annual growth rate of 7.0%. In recent years, the automotive aftermarket value chain has been undergoing a structural transformation from traditional offline models to data-driven, efficient and collaborative digital ecosystems. Automotive aftermarket platforms, through deep cross-chain integration, have become the core force driving industry efficiency improvement and reorganization. The GMV scale of China's automotive aftermarket enterprise empowerment platform grew strongly from RMB 22 billion in 2021 to RMB 40 billion in 2025, with a four-year compound annual growth rate of 16.1%. It is expected that by 2030, the market will further expand to RMB 109.8 billion, with a projected compound annual growth rate of 22.4% from 2025 to 2030. Board of Directors Information: The board of directors will consist of nine directors, including five executive directors, one non-executive director, and three independent non-executive directors. Equity Structure: Intermediary Team: Exclusive Sponsor: China International Capital Hong Kong Securities Limited Company Legal Advisor: Regarding Hong Kong and U.S. Law: Skadden, Arps, Slate, Meagher & Flom; Regarding Chinese Law: Han Kun Law Offices; Regarding Cayman Islands Law: Maples and Calder (Hong Kong) LLP Exclusive Sponsor Legal Advisor: Regarding Hong Kong and U.S. Law: Latham & Watkins; Regarding Chinese Law: Beijing DHH Law Firm Reporting Accountant and Auditor: PricewaterhouseCoopers Industry Consultant: Frost & Sullivan Compliance Advisor: Yuexiu Financing Limited