(Yicai Global) June 14 -- Beijing Zhidemai Technology, the entity that operates Chinese online shopping guide platform SMZHM.com, has got the go-ahead for an initial public offering on the Shenzhen Stock Exchange's Nasdaq-style ChiNext tech board.

Zhidemai is China's first e-commerce shopping guide company to go public.

It has twice filed prospectuses with the China Securities Regulatory Commission -- in April 2017 and April last year for the listing -- from which it hopes to raise CNY330 million (USD47.7 million).

Founded in 2010, its SMZHM website introduces consumer products and services to users and attracts customers to other e-commerce platforms through shopping guides or advertising displays. Its commission income mainly comes from the allied platforms of e-commerce firms such as Alibaba Group Holding, JD.Com and Amazon and other third-party platforms, whom it charges commissions based on the actual turnover of their goods it advertises.

The platform generated revenue of CNY97.3 million, CNY201.1 million and CNY367 million in 2015, 2016 and 2017, with profits of CNY23.7 million, CNY40.1 million and CNY99.4 million. It earned CNY45.2 million, CNY77.2 million and CNY112 million in shopping guide commission income and marketing platform service income from Alibaba, JD.Com and Amazon in the three years, respectively, accounting for a quite high proportion of its total income. 

The company's business income will become exposed to certain risks if its allied firms' policies change, however. 

The SSE accordingly grilled Zhidemai on the sustainability of this business cooperation. 

Editor: Ben Armour