AuGroup (Stock Code: 02519.HK), a portfolio company of Starquest Capital, was officially listed on the main board of the Hong Kong Stock Exchange at a price of 15.6 HKD per share on November 8, 2024.

Established in 2010, AuGroup (Aukey), with the mission of "Connecting the World, Creating Beauty," has successfully built categories including furniture and home furnishings, power tools, household appliances, consumer electronics, and sports and health. It has incubated multiple proprietary brands such as ALLEWIE, IRONCK, and LIKIMIO, selling through Amazon, Walmart, and Wayfair to North America, Europe, and other regions. AuGroup's products have won the German Red Dot Design Award and the German iF Design Award for several consecutive years, and have been listed in the "Top 100 Cross-border Brands for Export from China on Amazon Global Store," representing an excellent example of Chinese brands going global. In 2023, AuGroup had 11 brands with GMV exceeding 1 billion RMB, with GMV for 6 product categories ranking first in subcategories on the Amazon US site. According to Frost & Sullivan, based on 2023 GMV, AuGroup ranks fifth in global B2C e-commerce for furniture and home furnishings, and first in China's B2C e-commerce for furniture and home furnishings going global.

In addition to e-commerce, AuGroup actively builds a global logistics service system, providing logistics through Shenzhen Xiyou Smart Warehouse for its own e-commerce business and offering efficient logistics solutions for other e-commerce sellers, including domestic consolidation, international first-mile freight services, overseas transshipment, overseas warehousing, and order delivery. According to Frost & Sullivan, Xiyou Smart Warehouse ranks fourth among all providers of logistics solutions for B2C export e-commerce in China, and first among all providers focusing on large and medium-sized items in B2C export e-commerce logistics solutions. AuGroup's logistics business not only provides independent logistics services but also addresses transportation challenges for large home furnishing categories, reducing logistics costs and creating new growth opportunities for the company.

From 2021 to 2023, AuGroup's revenues were 9.071 billion RMB, 7.100 billion RMB, and 8.683 billion RMB, respectively. Net profit was 223 million RMB in 2022 and increased by 133.2% to 520 million RMB in 2023. In the first four months of this year, AuGroup's revenue increased by 16.9% from 2.424 billion RMB in the same period of 2023 to 2.833 billion RMB; net profit increased by 96.8% from 96 million RMB in the same period of 2023 to 189 million RMB. With rapid revenue growth and continuously strengthening profitability, AuGroup is thriving.

China's e-commerce industry is the largest in the world, with a mature business model and significant supply chain advantages, capable of combating cross-border challenges. As a pioneer and leader in China's supply chain going global, AuGroup has accumulated profound strengths in product development, supply chain capabilities, and brand influence. Starquest invested in AuGroup in 2018, witnessing the company's rapid growth and consolidation. We are honored to see AuGroup return and thrive in a competitive and rapidly changing market. We believe that the listing will be an important milestone and a new starting point for AuGroup, and we look forward to seeing Chinese brands shine even brighter on the global stage.

Congratulations again to AuGroup on its successful listing on the Hong Kong Stock Exchange.