Baozun Inc. (Stock code: 9991.HK) (the “Company” or “Baozun”) was successfully listed on the Hong Kong Stock Exchange on September 29, 2020. CMBI acted as Joint Sponsor, Joint Global Coordinator, Joint Bookrunner and Joint Lead Manager for this secondary listing.
This is the fourth Hong Kong IPO deal CMBI acting as Sponsor in 2020, the second Hong Kong secondary listing deal CMBI acting as Joint Sponsor and also the third Hong Kong secondary listing deal CMBI acting as Joint Global Coordinator in 2020, demonstrating CMBI's outstanding project execution and marketing capabilities.
Baozun issued 40,000,000 shares (before the Over-allotment Option) with offering price fixed at HK$82.90, and the offering size was approximately US$428 million (before the Over-allotment Option). As the leader and a pioneer in the brand e-commerce service industry in China, Baozun ranked the first as measured by GMV in 2019, according to iResearch. The offering was warmly welcomed with both the Hong Kong public offering part and International offering part multiple times over-subscribed.
In this project, CMBI fully leveraged its comprehensive coverage and order conversion capabilities, brought the Company a number of orders from high-quality institutional investors and strategic investors, and built a high-quality book structure. At the same time, CMBI has introduced multiple new shareholders and Asian investors to the Company, making important contributions to the Company's diversified shareholder base. In addition, CMB International Securities also contributed a large number of Hong Kong public offering orders. CMBI's contributions in all aspects have been unanimously affirmed by the management.
As a Joint Sponsor, CMBI plays a vital role in many aspects such as project execution, regulatory communication and stock marketing, ensuring the high quality and efficient execution. During the listing process, CMBI led relevant professional parties to discuss and formulate solutions to many key issues in different workstreams and assisted the Company to solve these issues flexibly and efficiently, helping the Company complete secondary listing successfully. The successful secondary listing of Baozun has once again demonstrated the leading position of CMBI in the TMT sector and became another classic case of serving new-economy clients.
Source: Prospectus and Company Announcement
Baozun is the leader and a pioneer in the brand e-commerce service industry in China, ranked the first with a 7.9% market share as measured by GMV in 2019, according to iResearch. China’s brand e-commerce service industry represents the third-party service industry in which e-commerce service providers provide e-commerce services to brands, including IT solutions, online store operation, marketing, customer services, and warehousing and fulfillment. Baozun empowers a broad and diverse range of brands to grow and succeed by leveraging its end-to-end e-commerce service capabilities, omni-channel coverage and technology-driven solutions. Baozun helps brands execute their e-commerce strategies in China.
As of 30 June 2020, Baozun served 250 brand partners in total. Its GMV grew from RMB19,112.2 million in 2017 to RMB29,426.0 million in 2018 and further to RMB44,410.3 million in 2019 at a CAGR of 52.4%. Its GMV for the six months ended June 30, 2020 was RMB21,967.6 million, a 25.1% year-over-year growth from RMB17,556.7 million for the six months ended June 30, 2019. Its total net revenues increased from RMB4,148.8 million in 2017 to RMB5,393.0 million in 2018 and further to RMB7,278.2 million in 2019 at a CAGR of 32.4%. Its total net revenues for the six months ended June 30, 2020 were RMB3,675.7 million, a 22.9% year-over-year increase from RMB2,991.0 million for the six months ended June 30, 2019.
This material is for reference only. Investor should rely only on the information contained in the Prospectus of this Global Offering to make investment decision.