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To-be Listed
Name
/
Code
Industry Offer Price Lot Size Entry Fee Closing Date
Grey Market Date
Listing Date
Newtrend Group
02573.HK
Food Additives 18.9-20.9 200 4,222 2025/06/05 2025/06/09 2025/06/10
MetaLight
02605.HK
Advertising 9.75 400 N/A 2025/06/05 2025/06/09 2025/06/10
Rongta Technology
09881.HK
Advanced hardware and software 10-12 500 6,061 2025/06/05 2025/06/09 2025/06/10
Summary
We operate Chelaile (車來了), a mobile app that applies big data analytics to deliver real-time, accurate bus arrival information. Chelaile has established a solid base for mobile advertising revenue through its extensive audience reach. In 2022, 2023 and 2024, mobile advertising contributed 85.2%, 96.2% and 98.0% of our total revenue, respectively. Beyond advertising, we deliver data analytics products and services to businesses and governments.

Launched in 2013, Chelaile empowers commuters with easy, reliable access to real-time bus information. By analyzing GPS data licensed from transportation entities, user queries and search histories, as well as data aggregation of buses and users, Chelaile offers up-to-the- minute bus schedules and accurate estimated arrival times, elevating travel experiences by reducing the uncertainty of wait times and the likelihood of missing buses. Chelaile’s accuracy and effectiveness have driven its widespread adoption in China. According to CIC, Chelaile is the largest real-time bus information platform in China by city coverage, spanning 274 cities as of December 31, 2024 with particularly strong presence in tier-3 and lower-tier cities. Chelaile has cultivated a large user base, with approximately 298.4 million cumulative users as of December 31, 2024.

Chelaile’s repository of data insights enables us to deliver data analytics products and services to transportation entities such as local transportation authorities and bus companies. Our offerings improve their operational and management efficiency by monitoring real-time bus operation, improving the accuracy of bus data, optimizing bus routes, and planning new routes. Building on our experience in the public bus sector, we are broadening our data analytics offerings to various industries.

Chelaile is free for users, generating revenue primarily through programmatic and brand advertising. For programmatic advertising, we sell advertising inventory to platforms that manage advertisement placements, receiving advertising fees based on the number of impressions. In 2022, 2023 and 2024, our revenue from programmatic advertising platforms accounted for 74.6%, 85.5% and 93.1% of our total revenue, respectively. For brand advertising, we sell advertising inventory directly to brand advertisers, typically charging a fixed fee measured by the number of impressions. Our public transit analytics platform for transportation entities operates on a subscription model, with fees based on the modules each entity subscribes to, such as infrastructure data module, bus route network analysis module and operation overview module. For other data analytics offerings, fees are determined through case-by-case negotiations, considering factors such as the computational resources required, volume of data processed and the complexity of the product design.

Our revenue was RMB135.4 million, RMB174.5 million and RMB206.1 million in 2022, 2023 and 2024, respectively. Our gross profit was RMB98.8 million, RMB133.2 million and RMB157.4 million in 2022, 2023 and 2024, respectively, and our gross profit margin was 73.0%, 76.3% and 76.4% for the respective years. Our adjusted net profit (non-IFRS measure) was RMB9.8 million, RMB46.5 million and RMB54.2 million in 2022, 2023 and 2024, respectively, and our adjusted net profit margin (non-IFRS measure) was 7.2%, 26.6% and 26.3% in the same years, respectively.



Source: MetaLight (02605) Prospectus (IPO Date : 2025/06/02)
Listing Market MAIN
Industry Advertising
Background Others
Major Business Area China
Corporate Information
Substantial Shareholders DiDi Global Inc. (15.19%)
Tian Suning (8.82%)
[09988] Alibaba Group Holding Limited (8.77%)
WeBus Light Ltd. (8.51%)
Yang Zhenghong (8.44%)
Sun Xi (7.31%)
Chen Xiao (5.76%)
Directors Sun Xi (Chairman and Chief Executive Officer and Executive Director)
Qian Jinlei (Chief Operating Officer and Executive Director)
Lu Lu (Chief Financial Officer and Executive Director)
Xu Cheng (Executive Director)
Huang Xiaoling (Independent Non-Executive Director)
Su Yu (Independent Non-Executive Director)
Xie Tao (Independent Non-Executive Director)
Company Secretary Sham Ying Man
Principal Bankers China Merchants Bank
Bank of China (Hong Kong) Limited
Solicitors Campbells
Cooley HK
Han Kun Law Offices
Auditors Ernst & Young
Registered Office Room 1910, 19/F., Lee Garden One, 33 Hysan Avenue, Causeway Bay, Hong Kong
Share Registrars Computershare Hong Kong Investor Services Ltd. [Tel: (852) 2862-8628]
Share Registrars Tel No (852) 2862-8628
Internet Address http://www.metalight.com.cn
Email Address
Tel No
Fax No
 
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