Lei Jianping on May 1
DMALL Co., Ltd. (hereinafter referred to as "DMALL") has updated its prospectus again and is preparing to be listed on the Hong Kong Stock Exchange.
This is the second time that DMALL has submitted a prospectus to Hong Kong stocks after nearly one year.
The annual revenue is 1.75 billion and the loss is 655 million
Founded in 2015, DMALL provides a cloud-based, one-stop, end-to-end digital retail SaaS platform for the local retail industry.
The services provided by DMALL include retail core service cloud, e-commerce service cloud and marketing and advertising service cloud, which can enhance the operational, marketing and sales capabilities of retailers and brands, so that they can better serve end consumers.
Among them, the retail core service cloud solution is based on the DmallOS system software and the intelligent Internet of Things (AIoT) solution, which is a comprehensive platform that can provide data insights throughout the whole process of retail operations and provide practical improvement measures. Multisite DMALL has achieved synergies between the three clouds and can provide retailers with a convenient one-stop solution.
DMALL has partnered with Wumart, Metro, Chongqing Department Store, Yinchuan Xinhua and DFIRetail Group, and has expanded rapidly to work with customers in different retail formats, including supermarket chains, warehouse supermarkets, department stores, convenience stores, specialty retailers and new retail formats.
According to the prospectus, the revenue of DMALL in 2021, 2022 and 2023 will be 1.045 billion yuan, 1.5 billion yuan and 1.75 billion yuan respectively, the gross profit will be 358 million yuan, 669 million yuan and 712 million yuan respectively, and the gross profit margin will be 34.3%, 44.6% and 40.7% respectively.
In 2021, 2022, and 2023, multipoint DMALL will lose 1.825 billion yuan, 840 million yuan, and 655 million yuan, respectively.
The adjusted losses of DMALL in 2021, 2022, and 2023 will be 959 million yuan, 296 million yuan, and 140 million yuan, respectively.
As of December 31, 2023, DMALL held cash and cash equivalents of $533 million.
The post-Series C+ round valuation reached $3.05 billion
The executive director of DMALL is Zhang Feng, the non-executive directors are Curtis Alan FERGUSON, Ms. Sun Yuhan, Chen Zhiyu and Wang Zhenghao, and the independent non-executive directors are Dr. Hou Yang, Ms. Cai Lin, Mao Jiye and Li Wei.
DMALL's shareholders include Industrial Bank, China State-owned Enterprise Structural Adjustment Fund, Hengan Jumbo Investment Co., Ltd., Shenzhen Investment Holding Bay Area Equity Investment Fund Partnership, Kingdee, Lenovo, Shenzhen Futian Guidance Fund Investment Co., Ltd., Minsheng Commercial Bank International Holdings Co., Ltd., CNCBI (Hong Kong) Investment Co., Ltd., Tencent, IDG Capital and many others.
DMALL has received multiple financings since its establishment, including $106 million in financing in May 2017, with a cost per share of $1 and a post-investment valuation of $606 million;
From 2018 to 2019, DMALL has completed Series B financing, of which it raised $80 million in Series B financing in September 2018 and $50.5 million in Series B+ financing in April 2019, both at a cost of $1.98 per share and a post-investment valuation of $1.33 billion for the second time, and DMALL completed another $46 million in Series B++ financing in 2019 at a cost of $2.5 per share and a post-investment valuation of $1.726 billion.
In August 2020, DMALL raised $370 million in Series C financing at a cost of $2.8 per share and a post-investment valuation of $2.3 billion, and in October 2021, it closed another $51.8 million Series C+ financing at a cost of $3.88 per share and a post-investment valuation of $3.052 billion.
Tencent is a shareholder with IDG and Kingdee
IPO前，CelestialLimited（由创始人张文中博士控制）持有多点DMALL已发行股份的49.19%； Odor Nice Limited（由创始人张博士控制）持有公司已发行股份的8%； Retail Enterprise Corporation Limited（由创始人张博士控制）持有公司已发行股份的1.17%；
Zhang Wenzhong is the founder of Wumart and the founder of DMALL. Zhang Wenzhong founded Wumart Supermarket in 1994. 2006 is the best period for the development of Wumart. It was also in this year that Zhang Wenzhong was taken away for investigation, and this trip was 7 years. On May 31, 2018, the court acquitted Zhang Wenzhong and Wumart Group, and the fines and recovered property that had been executed in the original judgment were returned in accordance with the law, and his 12-year unjust case was completely rehabilitated.
Zhang Wenzhong once published an open letter entitled "Life Ups and Downs: Entrepreneurship, Wrongful Imprisonment, and Starting Again" in the Wumart prospectus, saying, "Although I am in prison, I always firmly believe that justice will eventually come! I will not regret because I adhere to morality and integrity, and do not violate the bottom line of being a man." I firmly believe that I am innocent, and I always insist on appealing and appealing. In prison, facing the wall, working, reading, and thinking made my spiritual world calm and fulfilling. The biting cold bath in the cold winter made my will stronger. ”
Zhang Wenzhong said that as long as there is an opportunity, the Wumart team is encouraged to firmly believe that difficulties are temporary and the company will be better. Through the ups and downs, he is still an optimist and an active striver. "It is my original intention as an entrepreneur to meet consumers' pursuit of a better life, and it is Wumart's mission and pursuit to promote the transformation of the retail industry with digitalization. When there is spring in the heart, life is full of sunshine. I set off again. ”
VigorousLink Group Limited holds 8.71% of the issued shares of Multipoint DMALL. Vigorous Link Group Limited is a wholly owned company by a trust which holds shares for the benefit of certain directors, officers and employees of the Group, and the exercise of voting rights attached to all the shares held by it is ultimately directed and controlled by the Board under the relevant trust arrangement.
In addition, IDG holds 7.67% of the shares, Industrial Bank holds 3.32% of the shares, Tencent holds 3.26% of the shares, the China State-owned Enterprise Structural Adjustment Fund holds 2.9% of the shares through Yonglu Holdings Co., Ltd., the Shenzhen Investment Holding Bay Area Equity Investment Fund Partnership holds 2.64% of the shares, Daewoo Global Co., Ltd. holds 1.81% of the shares, and Zhang Bin holds 1.57% of the shares, and Zhang Bin is Zhang Wenzhong's brother.
Hengan Jumbo Investment Co., Ltd. holds 1% of the shares, Shanghai Xingwu Enterprise Management Center (Limited Partnership) holds 3.32% of the shares, CCCAxiom Limited holds 0.59% of the shares, Kingdee Software holds 0.95% of the shares, Yun Hui Limited holds 1% of the shares, and Guoquan Enterprise Consulting (Shanghai) Co., Ltd. holds 0.83% of the shares.
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