Shulou(Shulou.com)11/24 Report--

According to documents filed by the Hong Kong Stock Exchange on the evening of September 5, artificial intelligence company Beijing fourth Paradigm Intelligent Technology Co., Ltd. submitted an application for listing, with Goldman Sachs and China International Capital Corporation as co-sponsors of the IPO.

In August last year, fourth Paradigm submitted its first prospectus to the Hong Kong Stock Exchange, with plans to raise about $3.79 billion.

In February this year, the company submitted an updated prospectus to the Hong Kong Stock Exchange. However, on August 23, due to the failure to pass the hearing within six months of submitting the prospectus, the fourth paradigm IPO application status changed to "invalid".

According to the prospectus, the revenue of the fourth paradigm from 2019 to 2021 was 459.5 million yuan, 942.2 million yuan and 2.01841 billion yuan respectively. In the six months ended June 30, 2022, the company's revenue was 1.0582 billion yuan, an increase of 34.3% over the same period last year.

As at 2019, 2020, December 31, 2021 and June 30, 2022, the company's trade receivables were 179.2 million yuan, 262.7 million yuan, 778.3 million yuan and 803.3 million yuan respectively.

From 2019 to 2021 and the six months ending June 30, 2021 and 2022, the fourth paradigm gross margin was 200.1 million yuan, 429.7 million yuan, 953.5 million yuan, 346.9 million yuan and 529.0 million yuan, respectively; the overall gross profit margin was 43.5%, 45.6%, 47.2% and 50.0%, respectively.

The prospectus also shows that in 2019, 2020, 2021 and the six months ended June 30, 2022, the net losses of the fourth paradigm were 718.2 million yuan, 750.2 million yuan, 1.8021 billion yuan and 583.8 million yuan, respectively. The adjusted net losses were $322.5 million, $390.3 million, $559.1 million and $203.9 million respectively.

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