On the evening of December 15, Beijing time, China's MRO procurement service platform Zhenkun Travel was officially listed on the New York Stock Exchange, as "China's first MRO share to the United States". MRO(Maintenance, Repair, Operations) refers to non-productive materials that do not directly constitute products in the production process of enterprises and are only used for maintenance, repair and operation purposes. MRO procurement is related to the daily operation of manufacturing enterprises, and well-known companies in the industry such as Goodjet and Fasno are representative enterprises in the MRO field. Founded in 2014 and headquartered in Shanghai, Zhenkunxing mainly provides one-stop industrial supplies procurement and management services. The trading services mainly include: spare parts, general consumables, administrative materials, processing and manufacturing, chemicals and other five categories, with a total of 32 product lines. With the rapid development of the Internet, intelligent logistics, etc., MRO procurement is gradually digitized. Different from traditional MRO procurement service providers, Zhenkunxing provides one-stop MRO procurement management services such as production procurement plan matching, product pre-screening, intelligent recommendation, and inventory optimization.
As of September 30, 2023, the company had 30 national warehouses in Shanghai, Wuhan, Chengdu, Xi 'an and other major cities in China, with a total floor area of approximately 200,000 square meters; It operates 96 transfer stations with an area of about 52,000 square meters.
According to the prospectus, about 30% of the net proceeds from the IPO will be used to further expand the business, in particular to continue to develop the connoisseur Selection product line; About 30% to strengthen supply chain capacity and further improve compliance; Approximately 30% for potential strategic investments and acquisitions; The rest is used for general corporate purposes, including working capital needs, investing in research and development to continue building infrastructure and improve digital services, and expanding into overseas markets.
