Meili Auto has grown revenue and gross profit, but that growth is softening.
Net results have improved markedly, so I await management's pricing and valuation assumptions for the IPO.
Meili Auto Holdings (ML) has filed to raise gross proceeds of $100 million from a U.S. IPO, according to an F-1 registration statement.
The firm is focused on facilitating loans from financial institutions to prime borrowers in used car transactions.
ML has grown revenue and gross profit, but at a decelerating rate. The firm’s net results are improving.
Beijing, China-based Meili Auto has developed an online marketplace that facilitates loans from financial institutions to prime borrowers purchasing used cars.
Management is headed by CEO Allen Chonglun Gu, who has been with the firm since 2017 and was previously founder and CEO of Chongzhi Network Technology (Beijing) Co.
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