Shengwei Times Technology Co., Ltd. (Chuxing 365) Submits HKEX IPO Application, Holding 207 Online Taxi-Hailing Business Permits
NewTimeSpace News: Shengwei Times Technology Co., Ltd. (trading brand: Chuxing 365) submitted its IPO application to The Stock Exchange of Hong Kong Limited on 29 June, with ICBC International acting as the sole sponsor. According to Frost & Sullivan, based on 2025 ticket sales and gross transaction value (GTV), the Company ranks first in China’s road passenger transport information service market; by 2025 GTV, it ranks 13th in China’s online car-hailing service market. As of 30 April 2026, the Company holds 207 Online Taxi-Hailing Business Permits across China.
NewTimeSpace News: Shengwei Times Technology Co., Ltd. (Chuxing 365) filed its IPO application with HKEX on 29 June 2026, with ICBC International appointed as the sole sponsor.
The Company is an integrated mobility service provider in China, mainly engaged in online car-hailing services, passenger transport services, and digital services for the foregoing and other industries. As of 30 April 2026, the Company holds 207 Online Taxi-Hailing Business Permits issued nationwide in China. Per Frost & Sullivan industry data, the Company secured the No.1 position in China’s road passenger transport information service market measured by 2025 ticket sales and GTV, and ranked 13th in China’s online car-hailing service market based on full-year 2025 GTV.
The Company entered the road passenger transport information service sector in 2013 via Bus365, the predecessor platform of Chuxing 365. It expanded into customized passenger transport services in 2018, launched online car-hailing businesses in 2018, and started providing aggregated ride-hailing services to users through Amap in 2019.
China’s online car-hailing market generated total GTV of RMB338.7 billion in 2025, and is projected to reach RMB656.8 billion by 2030, representing a compound annual growth rate (CAGR) of 14.2%. The online ticketing penetration rate for road passenger transport stands at merely around 5.4%, far below the nearly 90% penetration recorded for railway and civil aviation, leaving substantial room for digital upgrading in the industry.
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