Lucas GC Limited
We are the largest technology-driven online agent-centric human capital management service provider targeting professionals based on Platform-as-a-Service, or PaaS, in China in terms of the number of active users in the human resources industry as of June 30, 2022, and total net revenues for the year ended Dec. 31, 2021. (Incorporated in the Cayman Islands)
As a company empowered by artificial intelligence, or AI, data analytics, and blockchain technologies, we are committed to digitalizing and intellectualizing the entire human capital management process. We provide a platform to support trusted private social networks of professionals, through which we provide services consisting of recruitment services, outsourcing services, and other services such as information technology services and training services. Our users are primarily professionals who work in human resources-related functions. Our corporate customers are corporations with recruitment, training, sales lead generation and outsourcing demands. As of June 30, 2022, we had approximately 382,650 active registered users on our proprietary platforms, Star Career and Columbus, through which the users of our platforms will receive customized job recommendations and work as talent scouts to source suitable candidates for our corporate customers through their own trusted private social network, as well as receive trainings and other value-added services.
Our proprietary human capital management PaaS is developed based on patented, novel and advanced AI and machine-learning algorithms which are based on unparalleled access to big data assets that can derive actionable insights and knowledge for recruitment and other services such as training. In order to upgrade themselves with knowledge in human resources and basic labor law and financial skills, users on our platform are able to receive trainings and obtain the Certified Career Resources Planner Certificate, or CCRP Certificate, which will certify the user’s possession of fundamental knowledge in human resources, labor law and finance.
We have achieved rapid growth since the launch of our platforms. For the years ended December 31, 2020 and 2021, our total net revenues increased by 183.3% from RMB230.2 million to RMB652.2 million (US$97.2 million). For the six months ended June 30, 2022, our total net revenues were RMB302.8 million (US$45.1 million). For the years ended December 31, 2020 and 2021, our net income increased by 759.7% from RMB4.6 million to RMB39.8 million (US$6.0 million). For the six months ended June 30, 2022, our net income was RMB18.5 million (US$2.8 million). For the years ended December 31, 2020 and 2021, our net cash provided by operating activities increased significantly from RMB2.4 million to RMB60.6 million (US$9.0 million).
(Note: Lucas GC Limited increased the size of its IPO, changed underwriters and updated its financial statements to include the year ended Dec. 31, 2022, in an F-1/A filing dated May 31, 2023: The IPO’s size was increased to 3.07 million shares – up from 750,000 shares – and the price range was cut to $6.00 to $7.00 – down from $8.00 to $9.00 – to raise $20.0 million. The new estimated IPO proceeds of $20.0 million represent an increase of 213.5 percent from the previous estimate of $6.38 million unde the IPO’s original terms. Prime Number Capital was named the new sole book-runner, replacing The Benchmark Company and Valuable Capital. Background: Lucas GC Limited filed an F-1/A dated March 22, 2023, in which it disclosed terms for its micro-cap IPO: 750,000 shares at $8.00 to $9.00 to raise $6.38 million ($6,375,000). The stock in the IPO will be offered by the Cayman Islands-incorporated holding company and not by the underlying business in China. Lucas GC Limited filed its F-1 on Feb. 28, 2023; it had submitted confidential IPO documents to the SEC on Nov. 21, 2022.)
|Industry:||Services - Computer Programming, Data Processing, Etc.|
|Address||Room 5A01, 4th Floor, Air China Building, Xiaoyun Road, Sanyuanqiao, Chaoyang District, Beijing 100027, China|
|Phone Number||+(86) 18500976532|
|View Prospectus:||Lucas GC Limited|
|Revenues||$111.1 mil (last 12 months)|
|Net Income||$5.28 mil (last 12 months)|
|Price range||$6.00 - $7.00|
|Est. $ Volume||$20.0 mil|
|Manager / Joint Managers||Prime Number Capital|
|Expected To Trade:|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|