Building DreamStar Technology Inc.

General Information

Note: We are a holding company incorporated in the Cayman Islands and not a Chinese operating company. As a holding company with no operations of our own, we conduct our operations through our subsidiaries in the People’s Republic of China (PRC). Investors in our ordinary shares are purchasing equity interests in our Cayman Islands holding company. This structure involves unique risks to investors. 

Note: We unwound the VIE structure in February 2022. We directly hold 100 percent of the equity interests in our subsidiaries. 

Our mission is to provide convenient and flexible co-working space solutions to enterprises. 

The rapid growth of cities and urban areas in the PRC and the transformation of work culture in China have contributed to the growth of the co-working space industry in the PRC. Shenzhen Building DreamStar (and its subsidiaries, or the PRC operating entities) is a fast-growing integrated co-working space operator in China. According to Frost & Sullivan, as of Dec. 31, 2021, among all co-working space operators in China, we ranked second for the number of cities covered, and fifth for the number of co-working spaces under operation.

The co-working spaces operated by the PRC operating entities are concentrated in urban areas in the PRC. The nationwide coverage and network of the PRC operating entities provide their customers with flexible and convenient office space solutions at affordable costs.

As of Dec. 31, 2021, the PRC operating entities had a total of 46 spaces, with 26 spaces with business incubation and acceleration programs and a total of 1,101 customers moved into such spaces with business incubation and acceleration programs.

**Note: Revenue and net loss figures are consolidated results in U.S. dollars for the year ended Dec. 31, 2021.

The customers of the PRC operating entities typically spend eight hours in their spaces during weekdays. To build a vibrant community on their co-working spaces, the PRC operating entities offer various services to meet their customers’ needs and preferences. 

(Note: Building DreamStar Technology Inc. revised its IPO in an F-1/A filing dated Sept. 20, 2022, by setting its IPO price at $5.50 – the mid-point of its previously disclosed range of $5.00 to $6.00 – on 4.6 million shares. Estimated IPO proceeds: $25.3 million. Building DreamStar Technology initially disclosed the terms for its IPO in an F-1/A filed on July 15, 2021. Building Dreamstar Technology Inc. filed its F-1 on Feb. 25, 2021; it filed confidential IPO paperwork with the SEC on Nov. 24, 2020.)


Employees: 316
Founded: 2016
Contact Information
Address Suite 2016, King Building, No.5002 Shennan East Road Luohu District, Shenzhen, Guangdong People’s Republic of China 518001
Phone Number +00852-21274570
Web Address
View Prospectus: Building DreamStar Technology Inc.
Financial Information
Market Cap $223.3mil
Revenues $38.79 mil (last 12 months)
Net Income $-9.84 mil (last 12 months)
IPO Profile
Symbol BDS
Exchange NASDAQ
Shares (millions): 4.6
Price range $5.50 - $5.50
Est. $ Volume $25.3 mil
Manager / Joint Managers Univest Securities
Expected To Trade:
Status: TBA
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change