Congratulations to Seeyon on its Successful STAR Market IPO! | Gaorong Ventures News
Opening a new chapter in the collaborative management software industry.
On October 31, Beijing Seeyon Internet Software Corp. officially listed on the STAR Market of the Shanghai Stock Exchange (ticker: Seeyon; stock code: 688369), with an IPO price of RMB 49.39 per share and a price-to-earnings ratio of 59.99x. At the opening bell, Seeyon traded at RMB 75.00, up 57.93%.
In 2017, Gaorong Ventures invested in Seeyon. To date, Gaorong Ventures has seen 10 of its portfolio companies successfully go public.
Seeyon Chairman and President Shi Xu (third from right) and Gaorong Ventures founding partner Chang Chen (third from left) at the bell-ringing ceremony at the Shanghai Stock Exchange
Seeyon has remained focused on the enterprise management software space, providing customers with collaborative management software products, solutions, collaborative management platforms, and cloud services — integrating product design, R&D, sales, and services into one of China's leading collaborative management software providers.
Seeyon Chairman and President Shi Xu delivers remarks
As a key software enterprise under national planning and a high-tech enterprise, Seeyon has built competitive advantages in product technology, brand reputation, marketing, and service capabilities through its sustained deep cultivation of the collaborative management software industry. Proceeds from this STAR Market IPO will fund four projects: next-generation collaborative management software optimization and upgrades, collaborative cloud application service platform construction, a western China innovation center, and marketing service platform optimization and expansion.
To date, Seeyon serves over 30,000 customers spanning manufacturing, construction, energy, finance, telecommunications, internet, and government agencies. The company has established more than 30 branch offices nationwide and developed over 600 distributors, with operations covering most provinces, autonomous regions, and municipalities.
On the product technology front, as one of the earlier professional vendors to propose, develop, and sell collaborative management software products, Seeyon has consistently focused on R&D while steadily increasing its investment. As of June 30, 2019, Seeyon had obtained 98 software copyrights and 21 authorized patents.
Currently, Seeyon's collaborative management software products are used across numerous industries and sectors. Major clients include China State Construction, China National Pharmaceutical Group, SPIC, COFCO, CNNC, China Mobile, China Merchants Bank, CITIC Bank, Starbucks, Shell, ByteDance, and DiDi, as well as government and public institutions such as the Chinese Institute of Certified Public Accountants, the National Radio and Television Administration, and the Guizhou Provincial People's Government.
Looking ahead, Seeyon stated that this public offering and STAR Market listing marks a new chapter in the company's development. It will seize the opportunities presented by digital transformation upgrades in enterprises and government agencies, along with the broader adoption of collaborative management software, to accelerate product, technology, and application innovation and strengthen its core competitiveness in the collaborative management software industry. The company also aims to further enhance its brand influence, improve its marketing and service network, and build out its collaborative industry ecosystem to consolidate and expand its competitive advantages.
Gaorong Ventures founding partner Chang Chen said, "Warm congratulations to Seeyon on its successful STAR Market listing! 'Collaboration enables reach.' With 17 years of deep industry expertise, Seeyon has built up its capabilities through sustained accumulation and constant innovation, establishing itself as a continuing leader in China's collaborative management software space. Chinese enterprises are now embarking on a new wave of digital transformation. Today's STAR Market debut positions Seeyon to continue fulfilling its mission of 'creating value through collaboration' during this industrial internet opportunity, while providing a powerful engine for the digital upgrading of Chinese enterprises. I sincerely wish Seeyon success — starting from collaboration, excelling in technology, refining its products, and ultimately thriving in the era of digital intelligence."
Going forward, as Chinese enterprises accelerate their digital and intelligent transformation and as next-generation information technology advances, Gaorong Ventures remains firmly bullish on China's enterprise services market.
Since the launch of the STAR Market, a number of promising tech enterprises with growth potential have emerged. Chang Chen noted, "Gaorong Ventures will adhere to long-term value investing, discovering and accompanying outstanding tech enterprises amid the new wave of technological development and industrial transformation."
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