On May 27, Legend Capital’s portfolio company, Qunabox Group (HKG: 0917), was successfully listed on the main board of the Hong Kong Stock Exchange with an opening price of HKD33 per share, a 32% increase from the issue price of HKD25 per share.
Founded in 2013, Qunabox Group is an AIoT marketing service provider focusing on fast-moving consumer goods (“FMCG”). Through utilizing its broad network of vending machines with interactive marketing functions, Qunabox Group provides target consumers with convenient and interesting experience in testing and accessing FMCG that it served, while successfully soliciting and completing necessary interaction and feedback.
As of December 31, 2023, Qunabox Group operated 7,543 vending machines in 22 cities in China including all the tier one cities and many new tier one cities. Substantially all of Qunabox Group’s vending machines are located in commercial properties with an aim to cover the major consumer groups of FMCGs, and by attracting consumers for interaction and converting them into users of their online platform “Quna” with a combination of online and offline channels, Qunabox Group had approximately 15.9 million AAUs in 2023. According to CIC, it provided marketing service to 472 brand customers for approximately 1,400 SKUs of FMCG products, including products from 74 emerging brands among the top 100 emerging brands in the industries of beverages, food and daily necessities in China.
Legend Capital invested in Qunabox Group in 2016 and has accompanied the company in its development from a vending machine-style outdoor marketer to a comprehensive marketing service provider integrating AI technology, IoT technology, and interactive sensing technology. After the investment, Legend Capital actively helped the company improve its strategic management and organizational management capabilities, and provided the company with value-added services in multiple dimensions such as business connection, finance, legal compliance and talent recruitment.
Legend Capital said: “Qunabox Group represents an upgrade of consumer services driven by technological innovation. By utilizing various AIoT technologies, it has transformed traditional low-efficiency free trial marketing services into a new generation of service model that is interesting for consumers, data-driven for brands, and significantly improves efficiency for the industry. With the advancement of large-scale AI models, Qunabox Group will become the best platform for AI applications in digital marketing. At the same time, Qunabox Group will continuously expand into overseas markets and enhance its global presence. The team has achieved remarkable achievements under the leadership of the company’s chairwoman, Ms. Yin Juehui, one of the rare Chinese entrepreneurs who possess both global vision and strong execution capabilities. Congratulations to Qunabox Group on its successful listing in Hong Kong.”
About Legend Capital
Founded in 2001, Legend Capital is a leading VC&PE investor focusing on the early-stage and growth-stage opportunities in China, with offices across Beijing, Shanghai, Shenzhen, Hong Kong, Seoul and Singapore.
It currently manages USD and RMB funds of over US$10 billion in commitments, and has invested in around 600 companies, covering technology, healthcare, consumer, enterprise service and intelligent manufacturing sectors. Rooted in China, Legend Capital participated in the rise of many world-leading companies by solid investment coverage and systematic post-investment value-add. Over the years, Legend Capital has also become a widely recognized name in bridging key resources in China and overseas through cross-border activities, and a valuable partner to Chinese and overseas investors.
Legend Capital values long-term sustainable investment and incorporates ESG into its long-term development strategy. As a UNPRI signatory since November 2019, Legend Capital is among the first group of top VC/PE firms in China to join the initiative.
For more information, please visit www.legendcapital.com.cn/index_en.aspx and follow us on LinkedIn @Legend Capital.
The article is distributed by Ever Bloom (HK) Communications Consultants Group Limited on behalf of Legend Capital.
For further information, please contact:
Ms. Orianna Ou / Ms. Arina He
Tel: +852 3468 8171
Email: legendcapital.list@everbloom.com.cn
