Rapid Growth in B2B E-commerce: IBI Lists on the SSE Main Board

Date: Jul 30,2019 Source：Beijing United Information Technology Co., Ltd

On July 30, Beijing United Information Technology Co., Ltd. (IBI) (stock short name: “国联股份 / IBI”, stock code: 603613) was officially listed on the Shanghai Stock Exchange Main Board. The initial public offering price was RMB 15.13 per share, with 35.21 million shares issued, raising a total of RMB 533 million. The sponsor (lead underwriter) was Western Securities.

According to the prospectus, IBI’s core business is B2B e-commerce. During the reporting period, the company grew rapidly: from 2016–2018, revenue reached RMB 909 million, RMB 1.999 billion, and RMB 3.673 billion, a CAGR of 162.64%; net profit reached RMB 24.22 million, RMB 62.17 million, and RMB 107.90 million, a CAGR of 107.95%.

Long-term Accumulation: Leading Positions Across Multiple Industries

IBI is rooted in industrial e-commerce and powered by internet data, providing online trading of industrial goods and raw materials, commercial information services, and internet technology services. Its primary businesses include the IBI Resource Network (B2B information service platform) and vertical B2B e-commerce platforms—Toodudu (TDD) for the coatings & chemicals chain, Wdoodoo (WDD) for the hygiene products chain, and Boododo (BDD) for the glass chain.

After more than a decade of development, IBI Resource Network serves 100+ industrial verticals, with 2 million registered member enterprises, 200,000 active member enterprises, a 10-million-entry yellow-pages database, and 50 million tendering & bidding records.

Using the Resource Network as an incubator, IBI has prioritized large-addressable, e-commerce-ready verticals where it holds resource and team advantages, and has driven rapid growth of its vertical platforms. Since launch, TDD, WDD, and BDD have all grown quickly with significant headroom ahead. The annual Duoduo Double Ten E-commerce Festival (Oct 10) is becoming a signature B2B event, achieving a 267.29% compound growth rate since its first edition in 2016.

IBI has also built strong information footprints in industrial robotics, new-energy vehicles, environmental engineering, new materials, and grains & oils, positioning the company to replicate and incubate additional vertical platforms.

Aligned with National Policy to Amplify Platform Value

China’s policy framework calls for the deep integration of the internet, big data, AI, and the real economy. Key directives include:

2017-09: MIIT’s Three-Year Action Plan for Industrial E-commerce;
2017-10: State Council guidance on promoting supply-chain innovation and application;
2017-11: State Council guidance on advancing “Internet+” advanced manufacturing and the industrial internet;
2019-02: Joint guidance from 12 ministries (including MOFCOM, MIIT, MOF, CSRC) on developing platform economies in commodity markets.

In Oct 2018, IBI was selected by eight ministries (MOFCOM, MIIT, PBOC, CBIRC, etc.) as a National Pilot Enterprise for Supply-Chain Innovation and Application. In Dec 2018, Duoduo E-commerce was recognized—under MIIT’s guidance—as an “Excellent Industrial E-commerce Platform Case.”

IBI’s core businesses closely track national priorities in industrial e-commerce, the industrial internet, supply-chain innovation, and platform economies. Its IPO proceeds will fund platform upgrades, SaaS system development, and an industrial internet R&D center, all of which will help integrate, transform, and upgrade traditional industries and deliver material cost-reduction and efficiency gains.

In summary, following the IPO and the deployment of raised funds, IBI’s capital strength, R&D capability, and platform service capacity will be significantly enhanced—further reinforcing its core competitiveness and sustainable growth.