With China’s middle-class consumers going online to research products, shopping-guide sites in China are attracting ad dollars from online retailers and global brands.

One such site, SMZDM.com reported last week that its 2016 revenue, mainly from online ads, topped 201.1 million yuan ($29 million), up 107% from 97.3 million yuan ($14 million) a year ago. SMZDM says its advertisers generated 445 million yuan ($62.3 million) in online sales on Nov. 11, the day of the annual online sales event known as Singles’ Day in China.

The company disclosed its revenue in an investor prospectus as it announced plans for an initial publication offering of stock on the Shenzhen Stock Exchange. SMZDM is an acronym in Chinese for “what’s worth buying.”

The company said in its prospectus it plans to raise about 330 million yuan ($48 million) to develop its data analytics so it can provide more personalized shopping recommendations.

The site features independent product reviews and sponsored content from advertisers. About 50% of the company’s revenue comes from foreign companies.

Founded in 2010, SMZDM also reported that 18.72 million consumers visited its site at least once a week in 2016. Those users posted 3,000 notes about available discounts and 200 products recommendation articles on SMZDM.com last year, according to the company.

To better promote overseas products, SMZDM has launched a cross-border section for international shopping sites and brands. About 20 global companies, including U.S. watch e-retailer Ashford.com in U.S., and British beauty products online retailer Feelunique, have advertised in this section and shown their links on its first page.

“Shopping guide sites could help Chinese consumers understand overseas goods,” says Zhang Zhouping, a senior analyst at the China E-commerce Research Center. “Also it is very important that consumers are here to form an online community. Consumers want to see other people’s opinions, rather than just watch the brand’s own advertising.”