Cross-border e-commerce firm Zibuyu files for Hong Kong IPO

Cross-border e-commerce firm Zibuyu files for Hong Kong IPO

Zibuyu Group, a Chinese cross-border e-commerce site, applied for an initial public offering (IPO) on the Hong Kong Stock Exchange on Monday, nine months after its first application failed in June last year. Known as China’s Zara, Zibuyu sells fast fashion items such as garments and shoes to overseas users through third-party e-commerce platforms, including Amazon, AliExpress, and Wish. The company achieved RMB 201 million ($ 31 million) profit on top of RMB 2.3 billion revenue in 2021, compared with RMB 114 million profit on RMB 1.9 billion revenue in 2020. Zibuyu’s biggest competitors are Chinese rivals like Shein and DHgate. [36kr, in Chinese]


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Author: admin