E.VAT MASTER files for listing on HKEX: the world's and China's largest cross-border e-commerce compliance service provider

NewTimeSpace News: On 3 September 2026, VATAI Holdings Limited (E.VAT MASTER) filed its listing application with the Hong Kong Stock Exchange, with CICC and Shenwan Hongyuan Securities (H.K.) Limited acting as joint sponsors. The Company is an AI-driven global cross-border e-commerce compliance service platform. According to CIC, by sales in 2025, the Company was the largest cross-border e-commerce compliance service provider globally and in China, with sales exceeding the combined total of the market participants ranked second to eighth in China in the same year; by 2025 sales, the Company held a market share of 21.5% in China's cross-border e-commerce compliance platform market, leading the industry.

In respect of financials, as of 30 June 2026, the Company had cumulatively served more than 264,000 paying users. During the track record period, the Company's revenue grew 45.9% year on year to RMB 350.5 million in 2024, and 50.8% year on year to RMB 528.5 million in 2025; revenue further grew 65.6% from the six months ended 30 June 2025 to RMB 385.9 million in the corresponding period of 2026.

In respect of operations, the Company has established four business segments, including corporate finance and tax compliance, environmental compliance, product testing and certification, and intellectual property protection (IPP), and operates a one-stop global cross-border compliance platform through seven brands with distinct positioning — VATAI, Maidetong, Xiaomao Chuhai, Lvzhou, VATAi, Yisi Cross-border and Nengbiao Testing — covering seven service lines: VAT+, overseas corporate services, EPR, carbon compliance, responsible persons (RsP), testing inspection and certification (TIC) and IPP; the Company's proprietary cross-border compliance AI agent "Xiao O" provides an intuitive gateway to the platform. As of the latest practicable date, the Company managed over 6,000 active service SKUs covering complex compliance scenarios across these segments in 121 countries and regions, and held 27 categories of global regulatory licences and certifications required for or recognised in its business.

NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.