MBMC Express News: QQJ Global Home Selection, based in Hangzhou, Zhejiang Province, has once again filed an IPO prospectus, with plans to go public in the United States.
Recently, QQJ INC. (hereinafter referred to as: Global Home Selection) from Xiaoshan District, Hangzhou, Zhejiang Province, submitted a prospectus to the U.S. Securities and Exchange Commission (SEC), planning to list on the NASDAQ in the United States, with its stock code being QQJ. It secretly submitted the prospectus to the SEC on April 27, 2022, and publicly disclosed the prospectus on February 7, 2024.
Global Home Selection, from Hangzhou, Zhejiang, as an innovative e-commerce platform, is committed to building a comprehensive ecosystem integrating business, shopping, entertainment and social media for people aged 40 and above. The Quanqiujia mobile platform (Quanqiujia) of Global Home Selection is based on the S2B2C model. In S2B2C, it uses a powerful data-driven supply chain platform to connect suppliers (S) with hundreds of thousands of enterprises (B) that serve consumers (C). For suppliers (S), the platform selects suppliers through a strict screening process to provide products of various categories; for enterprises (B), the company provides memberships to small enterprises to sell products to consumers (C) and enables enterprises (B) to establish their e-commerce businesses through our social e-commerce network; for consumers (C), it provides attractive products with competitive prices and functions tailored to the needs of their age group. Global Home Selection officially launched its mobile platform in June 2021. As of September 30, 2024, the company has reached approximately 799,200 consumers, among whom about 442,200 are enterprise (B) consumers and 357,000 are consumer (C) consumers.
The prospectus shows the corporate structure of Global Home Selection:
The prospectus shows that in the pre-listing shareholder structure of Global Home Selection, Hao Jiang holds 60% of the equity; Chuanyong Zhang holds 40% of the equity.
The prospectus shows that in the fiscal years 2023 and 2024 (the fiscal year ends on September 30 of each year), the revenue of Global Home Selection was USD 10.408 million and USD 12.4826 million respectively, with corresponding net profits of USD 2.0507 million and USD 5.3517 million respectively.
The intermediary team for Global Home Selection’s upcoming IPO mainly includes: Network 1 Financial Securities, Inc. as its underwriter; RBSM LLP as its auditor; DeHeng Law Offices as its Chinese legal counsel; VCL Law LLP as its U.S. legal counsel; Ortoli Rosenstadt LLP as the U.S. legal counsel for its underwriter.
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