On June 19th, The Stock Exchange of Hong Kong documents showed that China’s E-commerce ERP Developer Jushuitan (聚水潭）submitted an IPO application to the exchange. JP. Morgan Chase and CICC are joint sponsors.
Founded in 2014, Shanghai-based Jushuitan entered the market with the SaaS ERP service for e-commerce, helping merchants to achieve accurate and digital internal management. With outstanding products and services, it has now developed into a SaaS collaboration platform with SaaS ERP as its core, integrating SaaS customer service, data, SCM, RPA, and many other merchant services. Founder and CEO Haidong Luo has nearly thirty years of experience in R&D and implementation of traditional and e-commerce ERPs.
Jushuitan ERP is the company's core SaaS product, serving and meeting the key needs of merchant customers related to processing e-commerce orders on e-commerce platforms. The key functions provided by Jushuitan ERP include Order Management System (OMS), Warehouse Management System (WMS), Purchasing Management System (PMS), and Distribution Management System (DMS).
According to China Insights Consultancy, Jushuitan is the largest e-commerce SaaS ERP provider in China, with a 20.7% share of the market, ranking No.1 in the total SaaS revenue in 2022 in the SaaS market for e-commerce operations in China. Jushuitan has developed a rich and comprehensive suite of cloud-based e-commerce SaaS products that connect merchant customers with over 350 e-commerce platforms at home and abroad. By 2022, the company has served more than 45,000 SaaS customers and established deep partnerships with Dingtalk（钉钉）, Vipshop（唯品会）, Shopee, AliExpress（速卖通）, 1688, and Qianniu（千牛）. In 2022, the company had a net customer revenue retention rate of 105%.
Since 2015, Jushuitan has also been favored by the capitals. Jushuitan has undergone six rounds of financing, with investors including Ameba Capital (阿米巴基金), Welight Capital (微光资本), Wanlu Capital (万漉资本), Vision Plus Capital (元璟资本), Blue Lake Capital (蓝湖资本) and Jiahai Capital (嘉海资本), Sequoia Capital China (红杉资本中国基金), Goldman Sachs (高盛集团) and Yangtze River Delta Science and Technology Fund under CICC Capital (中金长三角科创基金).
Jushuitan has been laying out its overseas business since 2017, launching a cross-border ERP to help cross-border merchants achieve multi-platform inventory mana、gement, commodity release, and shipping services. As of 2022, Jusuitan's cross-border ERP has been applied to nearly 100 overseas e-commerce platforms, more than 500 cross-border logistics providers, and more than 100 overseas warehouse systems. The business plus financial integration solutions help merchants refine their operations and sustainable growth, truly realizing "selling global goods in one line". The features of Jushuitan's cross-border ERP include: For product listing, cross-border ERP can list products on Taobao (淘宝）/Tmall（天猫）to cross-border platforms with one click, and also supports transforming products between various platforms while supporting direct translation and solving merchants' language barriers. Regarding financial management, cross-border ERP supports the conversion of multi-currency exchange rates, which gives merchants an intuitive and clear picture of their performance.
In terms of financial data, according to the disclosed information, from 2020-2022, Jusuitan achieves revenues of approximately CNY 294 million, CNY 433 million and CNY 523 million respectively; and losses for the year are approximately CNY 364 million, CNY 254 million and CNY 507 million respectively.
Regarding future plans, Jusuitan stated in the prospectus that the net proceeds from the IPO will be used mainly to strengthen its R&D capabilities to enrich its product matrix; strengthen its sales and marketing capabilities; seek strategic investments to expand its products and customer base, and strengthen its technological capabilities; and for general corporate purposes.