On December 30, Tianjiu Shared Wisdom Enterprise Services Co., Ltd. ("Tianjiu Qifu" or the "Company"), a leading enterprise resource sharing service platform in China, submitted its A1 application form, with CCB International and BOCOM International acting as joint sponsors. Should this IPO prove successful, Tianjiu Qifu is poised to become the "first stock in China's enterprise resource sharing service" sector, bringing the promising and unique "enterprise resource sharing service" track into sharper focus.
The Chairman and CEO of Tianjiu Qifu is Ge Jun, who brings nearly 25 years of management experience from multinational tech giants, having previously served as Global Vice President at three Fortune 500 companies: Intel (INTC.US), Apple (AAPL.US), and NVIDIA (NVDA.US), where he spearheaded major investments for Intel and Apple in China. Since taking the helm at Tianjiu Qifu in 2019, Ge Jun has introduced international project management methodologies and digital transformation concepts, successfully steering the company's evolution from an initial "event organizer" to a "builder of a resource sharing platform for enterprise growth."
Currently, at a critical juncture of accelerated economic transformation and the shift between old and new growth drivers in China, businesses widely face a structural misalignment between "innovation vitality" and "resource capacity": numerous innovative enterprises possess new technologies, products, and models but struggle to scale rapidly due to bottlenecks in channels, resources, and funding; meanwhile, traditional enterprises possess mature resource systems but experience stagnant or declining growth in their core businesses, coupled with a lack of internal innovation capabilities. Enterprise resource sharing service platforms act as a bridge connecting these two sides, dedicated to integrating commercial resources, particularly by facilitating complementary advantages between innovative enterprises and the traditional economy, thereby enhancing overall societal resource allocation and utilization efficiency, aiding the transition of growth drivers, and creating incremental value.
The enterprise resource sharing service sector represents a fusion of platform and sharing economies, with an estimated market size of approximately RMB 31.97 billion in 2024; however, the market is highly fragmented, with the top five participants holding only 8.6% of the total market share. As a leader in China's enterprise resource sharing service field, Tianjiu Qifu has established a nationwide resource sharing ecosystem through its "Tianjiu Boss Cloud" platform and offline service network. According to Frost & Sullivan data, by revenue, Tianjiu Qifu has ranked first among Chinese enterprise resource sharing service providers for consecutive years, capturing over 5.4% of the market share in 2024.
The company is committed to providing business acceleration services for innovative enterprises by leveraging its integrated online and offline channels to connect selected growth-stage innovators with a vast network of traditional enterprises and entrepreneurs in target markets. This enables batch-based, standardized business collaborations, facilitating rapid growth for innovators while offering traditional businesses and entrepreneurs opportunities to embrace the new economy.
Operational data demonstrates the company's robust growth momentum and profitability. From 2022 to 2024, revenue grew from RMB 811 million to RMB 1.772 billion, reflecting a significant compound annual growth rate; the company returned to profitability in 2023 with a net profit of RMB 621 million, which further increased to RMB 1.315 billion in 2024, indicating sustained enhancement in profitability. In the first half of 2025, revenue reached RMB 725 million, continuing the positive development trend.
The company employs a unique "cash + equity" fee structure. It charges innovative enterprises cash service fees on one hand, and on the other, acquires equity stakes in these innovators based on the achievement of service outcomes, becoming their long-term, stable partner. This fee model helps alleviate the cash payment pressure for innovative enterprises during their expansion phase and allows the company to better balance stable cash flow with long-term growth potential.
In terms of industry resources, as of the latest practicable date, Tianjiu Qifu's online portal, the "Tianjiu Boss Cloud" platform, boasted over 6.2 million registered users, the majority of whom are from traditional enterprises or are entrepreneurs themselves. The company has cumulatively served more than 400 innovative enterprises and has over 20,000 potential innovative enterprises that have signed non-disclosure agreements to enter its resource pool, covering hot sectors such as major consumer goods, AI & big data, new energy, and environmental protection.
The A1 document specifically highlights that, empowered by big data analytics and AI technology, the company achieves more precise and efficient business collaboration matching through the synergy between its online platform and offline activities. Tianjiu Qifu is a national high-tech enterprise and has been certified as a "National Public Service Demonstration Platform for SMEs" by the Ministry of Industry and Information Technology. Its self-developed "Tianjiu Business Opportunity Large Model Algorithm" also obtained filing with the Cyberspace Administration of China in 2024.
Proceeds from this IPO will be used for market expansion, technological research and development, acquisitions, and general corporate purposes, aiming to further consolidate Tianjiu Qifu's leading position in the enterprise resource sharing service domain.
