Deutsche Bank appointed depositary for DSC Holdings ADR program
Deutsche Bank announced its appointment as the depositary bank for DSC Holdings Ltd.'s NASDAQ-listed ADR program, effective June 26, 2026. DSC Holdings provides AI application infrastructure for China’s used car industry and holds over 90% market share. The ADR program is a Level III facility with a 1:20 ratio of ADS to Class A ordinary shares.
*this image is generated using AI for illustrative purposes only.
Deutsche Bank announced its appointment as the depositary bank for the NASDAQ-listed American Depositary Receipt (ADR) program of DSC Holdings Ltd., effective June 26, 2026. DSC Holdings Ltd. provides AI application infrastructure for China’s used car industry. According to CIC, the company has held over 90% market share in operating systems for China’s used car dealers since at least 2021. The appointment follows DSC's recent initial public offering, where the stock closed at $9.06 on June 25, 2026, a 47% decline from the initial public offering price of $17 per American depositary share (ADS).
Depositary Receipt Details
The ADR program is a Level III sponsored facility. The custodian bank is Deutsche Bank AG, Hong Kong Branch. Each ADS represents 20 Class A ordinary shares of DSC Holdings Ltd., a Cayman Islands holding company with operations primarily conducted in mainland China. The securities are registered pursuant to the US Securities Act of 1933.
| ADR Detail | Figures |
|---|---|
| Effective Date | June 26, 2026 |
| Level | Level III ADR |
| CUSIP | 233369 107 |
| ISIN | US2333691077 |
| Symbol | DSC |
| Exchange | NASDAQ |
| Ratio | 1 ADS: 20 Class A ordinary shares |
| Eligibility | DTC |
Business Operations and Market Position
DSC supports used car dealers with transaction services across their workflows, extending its services to other auto merchants including OEMs, authorized dealers, and new car brokers. Its ecosystem engages thousands of dealers’ collaborators, such as inspectors, transporters, and other internet platforms. Despite its dominant market position, the company reported a net loss of 29.2 million yuan in the first quarter of 2026, narrowing from a 39.6 million yuan loss a year earlier, while revenue rose slightly to 146.6 million yuan.
How will the recent 47% stock decline impact DSC Holdings' ability to attract long-term institutional investors?
What strategies will DSC implement to convert its dominant market share into profitability given its continued net losses?
Could the appointment of a major depositary bank like Deutsche Bank signal potential expansion plans for DSC beyond the Chinese used car market?
19
Access 50+ Readymade Screeners 
Use 200+ Custom Filters 
Get Full Market Insights 
