Chinese used car dealer solutions provider DSC Holdings Ltd (DSC.US) began trading on the Nasdaq exchange on June 25, Eastern Time, closing its first day down 46.71%.

The company priced its US initial public offering at $17 per share, the midpoint of the previously announced $16 to $18 price range.

It issued 3 million American Depositary Shares at this price, raising total gross proceeds of approximately $51 million. Notably, existing shareholders have indicated their intention to purchase $30 million worth of ADS, representing about 59% of the total offering.

DSC Holdings Ltd primarily provides digital operating systems and transaction services for used car dealers in China.

According to company disclosures, as of early 2026, the used car inventory managed by its system, measured by vehicle identification numbers, covered over 50% of the total used car market in China.

The company's flagship digital product, "Da Feng Che," is a largely free, comprehensive platform that integrates enterprise resource planning and customer relationship management functions.

It also covers inventory management, marketing, sales, business analytics, internal management, and provides access to various transaction services.

The company's revenue is primarily derived from transaction services, including vehicle sourcing, inspection, logistics, and warehousing.

As of 2025, the platform had approximately 228,000 active users and 30,297 paying dealers and brokers.

Beyond its core B2B used car dealer client base, the company has expanded its business to include original equipment manufacturers and new car merchants.

The stock trades under the ticker symbol "DSC." Joint bookrunners for the offering included Deutsche Bank, China International Capital Corporation, and CR Global Markets.