PPIO Files for Hong Kong IPO, Reports 39.7% CAGR in Revenue

PPIO, a prominent independent distributed cloud computing service provider in China, has filed for an initial public offering on the Hong Kong Stock Exchange. The joint sponsors for the listing are ICBC International and China Securities International Hong Kong. According to the prospectus, PPIO operates the largest computing network in China by the number of computing nodes and ranks first among independent edge cloud computing service providers in China by 2024 revenue. The company's computing network covers over 1,200 counties and cities globally, with more than 4,000 computing nodes. As of December 31, 2024, PPIO's AI cloud computing services have over 120,000 registered developers worldwide, with an average daily token consumption of 141.9 billion times, ranking among the top two independent AI cloud computing service providers in China.

In terms of financial performance, PPIO reported revenues of 2.861 billion yuan in 2022, 3.584 billion yuan in 2023, and 5.58 billion yuan in 2024. The compound annual growth rate from 2022 to 2024 was 39.7%. This steady growth reflects the increasing demand for distributed cloud computing services and PPIO's strong market position. The company's extensive network and large developer base position it well to capitalize on the growing trend of edge computing and AI services. PPIO's listing on the Hong Kong Stock Exchange is expected to provide the company with additional capital to expand its services and infrastructure, further solidifying its leadership in the distributed cloud computing market.