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Editor’s note: This article is from Economic Observer Online , Author: Raoxian Jun .

On October 7, 2019, Tsinghua Apartment submitted an initial public offering (IPO) document to the US Securities and Exchange Commission, becoming the first brand of an IPO application for a long-term rental apartment in China.

Before, the long-rental apartment brand and the eggshell have also heard the news that they will go public in the US during the year, but the eggshell has not responded. The insiders told reporters that the planned listing period will be next year.

The prospectus information shows that as of June 30, 2019, Qingke has nearly 100,000 listings in Shanghai, Hangzhou, Suzhou, Nanjing, Wuhan and other cities, of which Shanghai is the most important market, and Qingke has in Shanghai. More than 60,000 listings.

Operation data in the prospectus shows that the revenue of Qingke Apartment in 2017 and 2018 is RMB 522 million and RMB 889 million respectively, and in the first three quarters of FY 2019, revenue It has exceeded 918 million yuan for the whole year in 2018, an increase of 51.435% over the same period last year.

However, Qingke still has not got rid of the current “loss-for-market” status in the long-term rental apartment sector. The prospectus data shows that it was in a loss state in 2017 and 2018, with net profit of -245 million and – 4.9 billion yuan, as of June 30, 2019, the loss of Qingke in the first three quarters of 2019 was -373 million yuan, an increase of 16.72%.

From the growth rate of housing prices and single-quarter data, like most long-term rental apartment brands, Qingke is also beginning to slow down the expansion rate and improve internal operational efficiency.

In Shanghai, for example, as of June 30, 2019, the number of Green Houses in Shanghai was 62,700, an increase of more than 7,600 compared to the same period in 2018, and in the same 12-month cycle, From September 30, 2017 to September 30, 2018, the number of listings in Shanghai increased by more than 19,600.

At the same time, the proportion of losses in the single quarter of Qingke continued to narrow. According to the data of the prospectus, in the second quarter of 2019, the single quarter loss rate of Qingke was about 40%, and the single quarter of the same period in 2018. The loss rate exceeded 51%.

The prospectus information shows that Tsinghua plans to list on the NASDAQ, the stock trading code is QK, and the expected financing exceeds 100 million US dollars.