The digital transformation of Chinese businesses is steadily growing
TRANSWARP TECHNOLOGY(SHANGHAI)CO., LTD. (Chinese: 星环信息科技, 688031:SH) was listed on Shanghai Stock Exchange on 18 October 2022. The issue price is CNY 47.34 (USD 6.55) per share, and the total number of shares of the Company after the issue is 120.82 billion shares, with a market value of approximately CNY 5.72 billion at the time of listing.
Transwarp is a company focused on developing enterprise-level big data infrastructure software, founded in 2013 in Shanghai. The company provides software and services for data integration, storage, governance, modeling, analysis, exploration and circulation. The company aims to help customers develop data application systems and business applications to achieve digitization.
Transwarp has a large customer base. Now it has over 1,000 terminal users in finance, government, energy, transportation, manufacturing and other important fields.
In 2019, 2020 and 2021, Transwarp's operating revenue was CNY 174.24 million, CNY 259.99 million and CNY 330.86 million respectively; the net income was CNY -211.34 million, CNY -184.34 million and CNY -246.31 million respectively; and the net cash flow from operating activities was CNY -201.22 million, CNY -190.95 million and CNY -238.39 million respectively.
In the first half of 2022, Transwarp's operating revenue was CNY 97.58 million, up 18.20% year-on-year; net profit was CNY -165.74 million, a loss of 11.63% over the same period of the previous year; net cash flow from operating activities was CNY -207.82 million, an increase of 22.86% year-on-year.
Sun Yuanhao, founder and CEO of Transwarp, said that Transwarp applies information technology to various industries to promote digital transformation, and is an innovator in China's big data infrastructure software field. In the future, the company will realize applications in more scenarios and areas.
As an early investor, Qiming Venture Partners (Chinese: 启明创投) led Transwarp's Round A+ funding in 2015 and continued to invest in Round B. Guantai Ye, Partner of Qiming Venture Partners, said Transwarp is the first SaaS project he invested. He believes that the listing of TRANSWARP will help the digital transformation of Chinese society.
The competitors of Transwarp include Alibaba Cloud (Chinese: 阿里云), Fine Report (Chinese: 帆软软件), Mininglamp technology(Chinese: 明略科技) and Dameng (Chinese: 达梦数据).