Xiaoetong’s IPO: Promising Prospects with Hidden Risks
小鹅通的首次公开募股：前景光明但暗藏风险
Xiaoetong, a Tencent – affiliated SaaS unicorn, has submitted its prospectus to the Hong Kong Stock Exchange. Its revenue has doubled in three years with a gross profit margin of 75%, but it has a cumulative loss of about 92 million yuan in three and a half years. With big – name shareholders like Tencent, it has great potential. However, it has faced regulatory issues and has high liabilities and platform dependence.
腾讯旗下的软件即服务（SaaS）独角兽企业小鹅通已向香港证券交易所提交了招股说明书。其收入在三年内翻了一番，毛利率达到 75%，但在三年半的时间里累计亏损约 9200 万元。尽管有腾讯等知名股东，它仍有很大潜力。然而，它也面临着监管问题以及高负债和平台依赖等情况。
