On July 29, cross-border e-commerce company Qian'an Technology officially listed on the Beijing Stock Exchange. The offering price was 24.30 yuan per share, issuing 17.5 million shares and raising approximately 425 million yuan, with Industrial Securities as the sponsor and lead underwriter. Following the listing, total share capital increased to 90.25 million shares.

Founded in 2010 and based in Shenzhen, Qian'an Technology specializes in R&D, design, and sales of its own brands, covering art creation, digital electronics, sports & outdoors, and home & garden categories. Its brand portfolio includes Ohuhu, Tribit, Sportneer, and iClever.

Revenue rose from about 1.40 billion yuan in 2023 to 1.667 billion in 2024 and 1.981 billion in 2025, while net profit grew from 96.43 million to 144 million and 220 million yuan. In 2025, revenue increased 18.82% year-on-year, net profit attributable to the parent surged 52.24%, and gross margin reached 43.42%.

As a typical overseas brand exporter, nearly all income comes from abroad. In 2025, overseas main business revenue reached about 1.958 billion yuan, 99.68% of the total. The US, its largest single market, contributed 51.40%.

Amazon remains the dominant sales platform, accounting for 93.42%, 90.30%, and 85.55% of main business revenue from 2023 to 2025. In 2025 alone, Amazon generated roughly 1.681 billion yuan. The company is also growing its independent brand sites; Ohuhu's DTC site earned about 109 million yuan in 2025.

IPO proceeds will fund product development, supply chain and operations center upgrades, brand building, and channel promotion, strengthening R&D iteration, digital supply chain efficiency, and multi-channel expansion to sustain core business growth.

SellerHome Comments

Qian'an's BSE listing injects fresh confidence into cross-border e-commerce: high revenue and profit coupled with heavy Amazon reliance. Sellers should watch its post-listing capital moves and multi-platform strategy to rethink their own channel risk management.

Source: E-commerce Pai
Original link: https://www.pai.com.cn/p/01kypff95f5mafvjz7hzh828yx