Tuhu car went public in Hong Kong, and its workshop stores have exceeded 3,300

With the continuous recovery of the domestic auto market, the auto service market has also become a track for various capitals to compete. Recently, there has been a new trend in the auto service market, Tuhu Yangche officially submitted the listing documents of the Hong Kong Stock Exchange, and the prospectus shows that the revenue of Tuhu Yangche in the first three quarters of 2021 increased by 41.8% year-on-year, and its workshop stores exceeded 3300, and the development continued to accelerate.

In the first three quarters of 2021, Tuhu's car revenue increased by 41.8% year-on-year, from 6 billion yuan to 8.4 billion yuan, an increase of about 24.3% year-on-year compared with the total revenue in 2020. Gross profit performance is also continuing to improve, as of September 30, 2021, Tuhu's gross profit has reached RMB1.3 billion.

It is precisely from the digital capabilities of Tuhu Car that it provides users with affordable, genuine, high-quality product and service experiences, and optimizes small and micro entrepreneurs through digital solutions. As of September 30, 2021, its "Tuhu Car Workshop" has more than 3,300 stores, more than 33,000 cooperative stores, and its offline service network covers most prefecture-level cities and continues to expand.

According to the China Automobile Association, from January to December 2021, automobile sales reached 26.275 million units, an increase of 3.8% year-on-year. The further recovery in sales means that the automotive service market is on the eve of an outbreak. According to the data, in 2020, the size of China's auto service market has reached 1 trillion yuan, and it is expected to reach 1.7 trillion yuan in 2025 with a compound annual growth rate of 10.0%. Tuhu's listing in Hong Kong has further improved the development of the automotive service market and will maintain a state of rapid development.

So, what is the basis for the listing of Tuhu Car?

At the moment of the rapid development of new energy vehicles, how to keep up with the pace of the development of new energy vehicles requires the transformation of ideas of enterprises in the automobile service market. According to Tuhu, data insights and technical capabilities are key strengths, revolutionizing the way automotive services are planned, managed and delivered through technological innovation, efficient operation management systems and data insights.

At present, Tuhu Yangche has more than 900 R&D personnel, led by experts in their respective fields, including data analysis, industry digital solutions and intelligent store management, to develop a set of tailor-made know-how for China's automotive service industry.

"In addition to our current services for fuel vehicles, we are exploring tailor-made products and services for new energy vehicles, such as battery repair services. Leveraging our extensive service network across the country, we are exploring partnerships with new energy vehicle brands to help them with vehicle sales and after-sales service. "For example, we have established strategic business cooperation with leading new energy vehicle brands, such as Zero Run Automobile and BAIC Jihu, to provide car services for new energy vehicle owners." ”

At present, Tuhu Has developed a comprehensive automotive service technical support system around the automotive service industry chain, covering a big data platform for parts matching, warehouse management system, transportation management system, order management system, store management system, technician support management system, etc. Relevant data reports show that Tuhu's auto parts database has covered 239 brands, more than 44,000 models, and the matching accuracy is as high as 99.94%.

[Reporter] Gong Qianshu

【Author】 Gong Qianshu

【Source】 Southern Press Media Group South + client