DSC Holdings, a Chinese technology company focused on AI-powered infrastructure for the used-car industry, filed for a Nasdaq listing on Wednesday that could value the company at roughly $901 million.

The Ant Group-backed company, also known as DaSouChe, said it will offer 3 million American Depositary Shares at an expected price range of $16 to $18 apiece, seeking to raise up to $54 million.

IPO Terms And Use Of Proceeds

According to a Reuters report, citing a term sheet, the offering could increase to about $62 million if underwriters exercise an option to purchase an additional 450,000 shares.

The company said it plans to use the proceeds to expand services for auto merchants, invest in technology and support working-capital needs.

Pricing is expected on June 24, while China International Capital Corp, Deutsche Bank, CR Global Markets and ICBC International are serving as joint underwriters.

AI Push For Used-Car Dealers

DSC said it is building AI implementation infrastructure designed to help dealers manage inventory, marketing, transactions and other operational workflows.

The company’s DaFengChe platform provides inventory management, marketing, sales and analytics tools, while incorporating AI agents for pricing, market intelligence and sales follow-up.

Investor Backing And Growth

According to the company website, DaSouChe has raised about $1.2 billion from investors including Ant Group, Warburg Pincus, Primavera, and 5Y Capital.

The company operates one of China’s largest used-car dealer platforms and its software serves more than 90% of dealers nationwide.

The China Securities Regulatory Commission approved DSC’s planned Nasdaq offering in April.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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