Chinese auto insurance provider Qingmin Digital Technology adjusts its US IPO fundraising scale by 317%, aiming to raise $31 million

According to the Zhitong Finance APP, China's automotive insurance aftermarket service provider Qingmin Shuke (QMSK.US) increased the proposed transaction size for its upcoming IPO last Friday. According to the latest disclosure, this Qingdao-based company plans to issue 6.3 million shares at a price range of $4 to $6 per share, with total fundraising expected to reach $31 million—an increase of 317% compared to the previously applied issuance size of 1.5 million shares and corresponding financing expectations.

Qingmin Shuke focuses on the needs of enterprise clients in the insurance industry through its operational entities, primarily targeting third-party service providers and insurance companies in China's automotive insurance sector, offering comprehensive business solutions. Its business focus is on the automotive insurance aftermarket service sector, specifically covering value-added services such as insurance risk assessment, vehicle safety inspection, and repairs. As of the fiscal year ending March 31, 2025, the company has provided professional services to 14 enterprise clients, forming a stable customer base.

In terms of its development history, Qingmin Shuke was established in 2013 and has shown stable financial performance in recent years. In the 12 months ending March 31, 2025, the company achieved operating revenue of $65 million. This IPO is planned to be listed on the NASDAQ stock exchange under the ticker symbol QMSK, with D. Boral Capital serving as the sole bookrunner