Sancai Holding Group (NASDAQ: SCIT) files IPO registration statement.

The company describes itself as: "The Company currently provides the followings two services to its customers:

SaaS Solutions – Standard SaaS Platform Application Services

Our standard SaaS platform application service provides digitalization solutions for small businesses. We built a mobile management solution system that enables business owners to manage and monitor their operations via mobile phones. We currently offer the following functions: customer acquisition, transaction, settlement, customer management, employee management, data analysis and supply chain services for the duration of the contract period, which is usually a year. As our business develops and the application industries grows, we will develop more functions to meet the needs of business owners. We typically charge a 3% to 5% fee on the transaction settlement amount, between the businesses we serve and their customers, which are completed on our SaaS platform.

SaaS Solutions – SaaS Platform Customization and Development

We also provide customization and development services according to the requirements of our customers. We charge a one-time customization fee and an annual maintenance fee. Certain customers can request maintenance and warranty services to be performed for certain customization & development services the Company provides. The annual maintenance fee is typically at an amount equal to less than 10% of the customization fee. These services are mainly considered as a separate performance obligation. The customization fee and annual maintenance fee are based on the services we provide and are negotiated on a case-by-case basis. The revenue for the one-time customization fee is recognized on delivery and customer acceptance. The annual maintenance fee is amortized over the contract period."

Univest Securities will serve as sole underwriter.