Reporting negative cash flows and net loss over the past few years, second-hand electronics platform Aihuishou International files for an IPO on the New York Stock Exchange, reported Caixin.
Aihuishou has become one of the most popular electronics reselling platforms in China by selling used consumer electronics. By filing for US listing, the company risks becoming dependent on its largest single investor, JD.com, who holds 34.7% of shares before the IPO.
Last year, Aihuishou suffered RMB 470.6 million ($71.8 million) in net loss, a significant decline from its loss in 2019 of RMB 704.9 million.
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