Comment on Chinese Car Rental Service Car Inc.Files for Hong Kong IPO by Car Rental Service Zuche Jumps into Ride-sharing Market as China Cracks Down on Private Cars - TechNode

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Chinese car rental service Car Inc., formerly known as China Auto Rental Inc. has resumed its IPO plans that were suspended in 2012, but it now aims to go public on the Hong Kong Stock Exchange rather than the U.S. stock market. The company has filed with the Hong Kong Stock Exchange last week. Charles Lu, chief executive of the firm, once said in an interview he prefers a Hong Kong IPO to New York because local investors are more familiar with his company. The company’s revenue mainly comes from car rental business and used car sales. The company’s Q1 revenue for this year reached 788.2 million yuan, up 37.5% as compared with 573.4 million yuan in the same period of last year.