Chinese online marketplace operator "Quantgroup" successfully listed on the Hong Kong Stock Exchange, with Gaorong Ventures as a co-lead investor in its Series A round.

On November 27, 2025, Quantaishi Holdings Limited (hereinafter referred to as "Quantaishi"), a Chinese online marketplace operator (stock code: 02685.HK), successfully listed on the Main Board of the Hong Kong Stock Exchange. China International Capital Corporation Hong Kong Securities Limited and CITIC Securities (Hong Kong) Limited served as joint sponsors.

Quantaishi's IPO offered 13.3475 million shares globally, priced at HK$9.80 per share. On its debut, the stock opened at HK$26.00, up 165.31% from the issue price.

Gaorong Ventures co-led Quantaishi's Series A round in 2014 and continued to participate in subsequent financing rounds. Quantaishi's listing marks Gaorong's sixth Hong Kong IPO in 2025, following Bloks, MiRXES, Saint Bella, Geekplus, and Butong Group.

Deep Presence in High-Frequency Consumption Scenarios Drives Steady Growth

As an online marketplace operator focused on China's consumer sector, Quantaishi has consistently built its presence in high-frequency consumption scenarios such as e-commerce and automotive retail O2O, gradually constructing an efficient integration system of "users—goods/services—consumption scenarios" that delivers sustained growth and synergies for business partners.

Drawing on years of deep engagement in the consumer sector, Quantaishi has accumulated substantial industry expertise while continuously expanding its coverage of users and business partners. As of May 31, 2025, the company had connected with over 60.3 million registered end customers and 2,646 business partners, with platform scale growing steadily.

Laying the Technical Foundation for Intelligent Applications in Consumption Scenarios

Alongside expanding business scale, Quantaishi has continuously deepened its technical infrastructure. The company's self-developed "Liangxingqiu" AI technology platform deeply integrates five major systems — operations, algorithms, marketing, and more — providing business partners with modular, full-chain digital solutions that help improve customer acquisition efficiency, conversion effectiveness, and overall operational capabilities.

In intelligent technology, Quantaishi has built a mature user profiling and analytics system, accumulating 9 patents and 58 software copyrights, with technical talent comprising approximately 35% of staff. The company's self-developed large language model "Liangxingwen" completed generative AI algorithm registration in October 2024, laying a solid foundation for future intelligent applications across more consumption scenarios.

Facilitating Precise Matching Between Consumer Demand and Industrial Supply

As the digital economy and real economy become more deeply integrated, demand for intelligent upgrades in the consumer sector will continue to grow. With its dual advantages in AI technology R&D and scenario deployment, Quantaishi is well-positioned to play an increasingly important role as a hub for precisely matching consumer demand with industrial supply.

Right: Hao Zhou, Founder, CEO, and Chairman of the Board of Quantaishi; Left: Shuo Hu, Partner at Gaorong Ventures

Shuo Hu, Partner at Gaorong Ventures, commented: "Quantaishi has always centered on precise insight into and matching of user needs, gradually building out full-chain service capabilities for online marketplace operations. Driven by AI technology, we look forward to Quantaishi further improving the matching efficiency between users and goods/merchants, unlocking more consumption scenarios and greater value. The Quantaishi team is young and enterprising, embraces change, and shows remarkable resilience. We hope the team will take this listing as an opportunity to iterate on AI technology, solidify its compliance foundation, and inject unique vitality into online consumption."