August 29th, 2023,Jiangxi Rangwan Information Technology Co., LtdVIE control entityZX Inc. (hereinafter abbreviated as”Nakasahi Mirai”) The prospectus may be listed on the Hong Kong Main Board soon after the disclosure hearing on the Hong Kong Stock Exchange. It was submitted twice on November 25, 2022 and August 18, 2023.
Link to Zhongxu's prospectus after the future hearing:
Main business
Nakasahi MiraiIt was founded in May 2015, and began with“Playful”Distributes massively multiplayer online role-playing games (MMORPGs) for brands and game developers. Since its inception, the company has marketed and operated over 310 game products. According to Frost & Sullivan, by revenue in 2022,Nakasahi MiraiIt is the fifth largest mobile game product distribution company in China, with a market share of 3.5%. Furthermore, the company successfully incubated self-developed brands and content in new consumption scenarios, including fast food brands“Slag Ash”and trendy toy brands“Bro Kooli”.
Since its establishment until April 30, 2023,Nakasahi MiraiThe game products marketed and operated have a total of 418 million registered users. In the four months ended April 30, 2023, the average monthly active users (MAU) of game products marketed and operated by the company reached 9.4 million. The average monthly revenue (ARPPU) per paying user (ARPPU) for all game products marketed and operated by the company during the record period was RMB 411.1. In addition, the company also provides marketing services related to online literature products.
Nakasahi MiraiIt is one of the first companies to appoint celebrity endorsers for promotion and marketing in the mobile game industry, and has accumulated rich experience in how to select the right celebrity spokesperson. As of the last practical date, the company has cooperated with more than 30 celebrity spokespersons.
As of the last practical date, some of the company's iconic games include The Original Legend, Legend of the Ancient Cloud, Hot Battle, Legend of National War, and Liberty Blade.
Nakasahi MiraiThe revenue mainly comes from
(i) Marketing and operating online games and online literature products developed by marketing content creators;
(ii) Consumer goods business, which mainly includes the sale of the company's own brand and locally flavored rice noodle products and other fast consumer food products under the “Slag Ash” brand.
Shareholder structure
According to the prospectus,Nakasahi MiraiIn the shareholder structure before listing,
Mr. Wu Xubo, holding 51.2670% of the shares;
Ms. Wu Xuan, holding 7.4665% of the shares;
Employee shareholders include:
Mr. Luo Xihu, holds 4.85% of the shares;
Mr. Chen Yang, Mr. Zhang Tong and other key employees hold a total of 20.4185% of the shares;
Business partner shareholders include:
Ms. Chen Wei, holding 4.3650% of the shares;
Mr. Qu Jiajia, holding 3.3950% of the shares
Before listing, the investor Beijing Duoxian Technology, a subsidiary of Shanghai Tianyou, held 4.85% of the shares through DUOXIAN INTERNATIONAL;
ESOP BVI holds 3.39% of the shares.
Directors and Executives
Nakasahi MiraiThe board of directors consists of 5 directors, including 2 executive directors and 3 independent non-executive directors.
directorates(5 people)
executives(3 people)
Executives include: Mr. Wu Xubo, Chairman of the Board, Executive Director and CEO, Ms. Wu Xuan, Executive Director and Chief Operating Officer, and Mr. Luo Xihu, Director of Operations.
Company performance
According to the prospectus, in the past four months of 2020, 2021, 2022, and 2023,Nakasahi MiraiThe operating income was RMB 2,872 million, $5.736 billion, $8.817 billion and RMB 2,448 million respectively, and the corresponding net profit was -1,301 million, 616 million, 492 million, and 242 million yuan, respectively. The corresponding adjusted net profit was 515 million, 628 million, 560 million yuan and 330 million yuan, respectively.
Intermediary team
Nakasahi MiraiThe intermediary team for this IPO mainly includes: CICC and CITIC Construction Investment International as their co-sponsors; Ernst & Young as their auditors; Dacheng and Kaiyi are their company's Chinese lawyers and corporate Hong Kong lawyers respectively; Jun He and Wilson Sansini are their brokerage firm's Chinese lawyers and brokerage firm Hong Kong lawyers respectively; Frost Sullivan is their industry advisor.