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06959 長久股份
Listing Date2024/01/09
Listing Price5.950
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Changjiu Holdings provides pledged vehicle monitoring services and automobile dealership operation management services in China. It offers pledged vehicle monitoring services primarily to financial institutions that provide secured financing to automobile dealerships for its purchase of vehicles; and automobile dealerships with pledged vehicles.


According to report, it was the largest pledged vehicle monitoring service provider in China’s automobile sales and distribution industry both in terms of revenue in 2022, with a market share of 47.9%, and in terms of the number of automobile dealership users as of December 31, 2022. It had 17 years of operation history and its nationwide presence with operation in over 500 cities across 31 provinces in China.


As of June 30, 2023, it provided pledged vehicle monitoring services to approximately 200 branches of 18 commercial banks, including all of China’s “Big Six” national state-owned commercial banks and 12 joint-stock commercial banks; 27 automobile finance companies; and 11,152 automobile dealerships.


As of June 30, 2023, it managed a total of 75 automobile dealerships, among which 74 were owned by Changjiu Group and one was owned by an Independent Third Party.

MarketHong Kong (Main Board)
Business NatureCommercial & Professional Services
Major Business AreaChina
Board Lot500
No. of Offer Shares50.54M shares
No. of International Offer Shares45.49M shares
No. of HK Offer Shares5.05M shares
Offer Price$5.95 - $7.90
Stock Code6959
Sponsor(s)CITIC Securities (Hong Kong) Limited, ICBC International Capital Limited
Underwriter(s)CLSA Limited, ICBC International Securities Limited, CEB International Capital Corporation Limited, BOCOM International Securities Limited, SPDB International Capital Limited, Patrons Securities Limited, CMB International Capital Limited, Zhongtai International Securities Limited, UOB Kay Hian (Hong Kong) Limited, Tiger Brokers (HK) Global Limited, Livermore Holdings Limited, Valuable Capital Limited
Application PeriodDec 29 (Fri) - noon, Jan 04 (Thu)
Price Determination DateJan 05 (Fri)
Result Announcement DateOn or before Jan 08 (Mon)
Result Announcement DateOn or before Jan 08 (Mon)
Result Announcement DateOn or before Jan 09 (Tue)
Dealings in Shares commence onJan 09, 2024. (Tue)
Reallocation of Shares Offered
Times of HK Offer Shares Subscription15X - 50X50X - 100XOver 100X
% of total shares reallocated to HK Offer30%40%50%
Sales Statistics (HKD)
Offer Price$5.95 - $7.90
Capitalization1.20B - 1.60B
NAV / share ($)$1.62 - $2.09 (Unaudited pro forma adj NAV / share)
Use Of Proceeds
Assuming the offer price being at HKD 6.93, the net proceeds raised would be HKD 313.00M, of which
35% : Improve pledged vehicle monitoring services
30% : Develop an integrated supporting system for the automobile sales and distribution industry
15% : Expand automobile dealership operation management capacity
10% : Expand sales and marketing capacity;
10% : Working capital
Related Document
Remark: The above information is referenced from the prospectus.
  All data is calculated from the non- exercise rights(if applicable).
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