Congratulations to Autostreets Development Limited (2443.HK) on its Successful Listing

Congratulations to Autostreets Development Limited (2443.HK) on its successful listing on the Mainboard of HKSE on 31 May 2024.

Autostreets Development Limited (“Autostreets”) is China’s largest used vehicle transaction service provider in terms of transaction volume in 2022, according to CIC. As an intermediary that connects used vehicle buyers and sellers, Autostreets’ facilitate used vehicle transactions through transaction platform in two auction formats, namely online-offline integrated auction and online auction. In 2022, approximately 160,000 units of used vehicles were transacted through its transaction platform, with a market share of 12.6% among China’s used vehicle transaction service providers. In 2023, approximately 176,000 units of used vehicles were transacted through our transaction platform. Autostreets also has the largest number of offline auction sites and broadest offline service geographic coverage among China’s used vehicle transaction service providers. As of December 31, 2023, Autostreets had 79 auction sites strategically located in 74 cities and offered offline services in 317 cities across China.

With regard to this listing application, AVISTA Group is honoured to be engaged in providing valuation services in relation to preferred stocks, warrant, call options and financial assets.

Congratulations again to Autostreets Development Limited (2443.HK) on its successful listing. The issue price is HKD10.20 per share and the amount of funds raised is HKD153 million.

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