0001966041

IPO filing research

DSC Holdings Ltd.

Services-Computer Programming, Data Processing, Etc. · DSC

ipo withdrawn Nasdaq Global Market 424B4

DSC Holdings Ltd. IPO research page with SEC filing history, offering status, deal terms, structured filing extracts, company news, and comparable IPO context. Latest filing: 424B4 on 2026-06-26. Current deal snapshot: exchange Nasdaq Global Market.

Filing Timeline

SEC EDGAR

424B4 priced

Final prospectus

Final prospectus filed after pricing with final deal terms.

First tracked pre-IPO filing for this issuer.

Price $17.00 · 3,000,000 shares · Gross proceeds $51,000,000

Class A Ordinary Shares · Exchange Nasdaq Global Market · Ticker DSC · Flags cayman_holding_company, vie_structure, dual_class

DSC Holdings Ltd. operates as a digital infrastructure provider for China's auto commerce industry, offering digitalization solutions and transaction services to used car dealers and OEMs. The company reported a 28.6% revenue decline in 2025 to RMB677.1 million due to the disposition of its financial product referral services in December 2024, which previously contributed 27% of 2024 revenues. The disposition reflects a strategic shift to focus on core operations, with digitalization solutions and transaction services now driving growth. Despite losses, the company emphasizes its market leadership in digital tools and transaction services, including B2B facilitation, inspection, and delivery services. Key risks include market competition, regulatory changes, and reliance on dealer adoption of its platforms.

2026-06-26 · 0001213900-26-072276

EFFECT effective

SEC effectiveness notice

SEC declared the registration statement effective, allowing the offering to proceed.

Follows DRS/A and marks the registration effective.

2026-06-24 · 9999999995-26-002119

EFFECT effective

SEC effectiveness notice

SEC declared the registration statement effective, allowing the offering to proceed.

Follows DRS and marks the registration effective.

2026-06-24 · 9999999995-26-002104

CERT inactive

CERT

Pre-IPO filing captured from the SEC submission timeline.

First tracked pre-IPO filing for this issuer.

2026-06-24 · 0001354457-26-000618

RW withdrawn

Withdrawal request

Issuer requested withdrawal of the registration statement.

First tracked pre-IPO filing for this issuer.

2026-06-23 · 0001213900-26-070980

F-1/A amended

Amended foreign registration statement

Updated foreign registration statement filed after SEC comments or deal changes.

First tracked pre-IPO filing for this issuer.

Price $17.00 · Range $16.00 to $18.00 · 3,000,000 shares · Gross proceeds $51,000,000

Class A Ordinary Shares · Exchange Nasdaq Global Market · Ticker DSC · Flags cayman_holding_company, vie_structure, dual_class

DSC Holdings Ltd. operates as a digital infrastructure provider for used car dealers in China, offering digitalization solutions and transaction services. The company's platform, DaFengChe, aims to enhance efficiency and profitability for dealers through digital tools and AI integration. Recent financial data shows a decline in active users and monetized dealers, alongside a shift in revenue sources following the disposal of financial product referral services. The company faces challenges from market volatility, competition, and regulatory risks in China.

2026-06-22 · 0001213900-26-070374

8-A12B effective

Exchange Act registration

Registration filed to list the securities under the Exchange Act ahead of trading.

Follows DRS and registers the class of securities for exchange listing.

2026-06-17 · 0001213900-26-069696

F-1/A amended

Amended foreign registration statement

Updated foreign registration statement filed after SEC comments or deal changes.

First tracked pre-IPO filing for this issuer.

Range $16.00 to $18.00 · 3,000,000 shares

Class A · Exchange Nasdaq Global Market · Ticker DSC · Flags cayman_holding_company, vie_structure, dual_class

DSC Holdings Ltd. provides digitalization solutions and transaction services for car dealers and OEMs in China. The company experienced a 28.6% revenue decline in 2025 to RMB677.1 million (US$96.8 million) due to the Disposition of its financial product referral services in December 2024. Despite a 4.3% revenue increase in 2024, the company has faced persistent losses, with net losses of RMB101.9 million in 2025. Key risks include macroeconomic volatility, reliance on subscription fees, competition, and challenges in monetizing services. The company emphasizes its focus on digitalization solutions and transaction services, but its financial performance remains uncertain amid market and regulatory uncertainties.

2026-06-17 · 0001213900-26-069691

F-1/A amended

Amended foreign registration statement

Updated foreign registration statement filed after SEC comments or deal changes.

First tracked pre-IPO filing for this issuer.

Class A · Exchange Nasdaq Global Select Market · Ticker DSC · Flags cayman_holding_company, vie_structure, dual_class

DSC Holdings Ltd. operates in China's used car ecosystem, providing digitalization solutions and transaction services to auto merchants. The company disposed of its financial product referral services in December 2024, impacting 2025 revenues. Total revenues declined by 28.6% in 2025 to RMB677.1 million, with net losses of RMB94.6 million. The disposition aligns with strategic focus on core services, while emphasizing growth in digitalization solutions and transaction services. Key factors affecting operations include market conditions, regulatory changes, and competition.

2026-06-08 · 0001213900-26-066193

F-1 filed

Initial foreign registration statement

Initial public filing for a foreign issuer submitted to start the SEC review process.

Follows DRS/A in the pre-IPO sequence.

Class A · Exchange Nasdaq Global Select Market · Ticker DSC · Use of proceeds debt repayment, working capital, acquisitions · Flags cayman_holding_company, vie_structure, dual_class

DSC Holdings Ltd. operates as a digital platform providing solutions and transaction services for China's used car industry. The company focuses on digitalization solutions like storefront management systems and transaction services including B2B facilitation, inspection, and delivery. In 2025, revenue declined by 28.6% to RMB677.1 million due to the disposition of its financial product referral services, a key revenue source. The company has shifted focus to core operations, emphasizing digitalization solutions and transaction services to drive growth. It reported net losses in 2023-2025 but highlights a self-reinforcing flywheel model combining digital engagement with transaction volume.

2026-05-26 · 0001213900-26-060977

DRS/A amended

Amended draft registration statement