Unique Research · Insight / IPO · August 8, 2022 · Full rewrite — not a stub
On Jun 30, 2022, China’s largest public-cloud contact-center solutions vendor Tianrun Cloud (天润云, TICloud) (founded 2006; CICC sole sponsor) listed on HKEX. Offer 43.53M shares at HK$12.85 (bottom of 12.85–13.85 range); day-1 close HK$12.84 (−0.08%), mkt cap ~HK$2.23B; turnover HK$62.7M. Cornerstones: Platinum (HK$118M / 9.18M shares) + Agora (HK$62.8M / 4.89M). Use of proceeds: ~75% tech/product, ~20% brand & sales, ~5% WC.
’21 public-cloud contact-center share 10.3% (¥4.0B public-cloud market = 38% of cloud / 27% of total contact-center). Seven consecutive profitable years; ’21 rev ¥402M (+13.6%), NI ¥18M (−74.6%), GM 45.5%, large-client NRR 108.3%. Gross profit ’19–’21 ¥156M / ¥175M / ¥183M. Charts in CN images — attach on ingest.
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