根据灼识咨询报告，按2022年中国音乐版权许可及音乐录制产生的收益计，风华秋实在400多间音乐唱片公司中排名第14位，市场份额约为0.6%，并在总部位于中国的200多间音乐唱片公司中位居第3，市场份额约为 1.5%。According to the disclosure of the Hong Kong Stock Exchange on November 8, Fenghua Qiushi Group Holdings Limited (hereinafter referred to as “Fenghua Qiushi”) submitted a listing application to the main board of the Hong Kong Stock Exchange for the 7th time. Douren Finance Co., Ltd. was its sole sponsor.
The Zhitong Finance App learned that, according to the disclosure of the Hong Kong Stock Exchange on November 8, Fenghua Qiushi Group Holdings Limited (hereinafter referred to as “Fenghua Qiushi”) submitted a listing application to the main board of the Hong Kong Stock Exchange for the 7th time, and Douren Finance Co., Ltd. was its sole sponsor. According to reports, the company has submitted six statements to the Hong Kong Stock Exchange on January 22, 2021, September 27, 2021, November 15, 2021, April 1, 2022, October 12, 2022, and April 20, 2023, respectively. Its entertainers include Lu Han, Black Panther, etc.
According to the prospectus, Fenghua Qiushi is a music and entertainment service provider that has been operating in China for over 10 years. It mainly focuses on awarding music copyright and music recording services, as well as concert hosting and production and artist management. Under Li Hui's leadership, the company has gradually established a prominent business footprint in the Chinese music and entertainment industry.
According to the Insight Consulting Report, according to the revenue generated by Chinese music copyright licensing and music recording in 2022, Fenghuaqiu actually ranked 14th out of more than 400 music record companies, with a market share of about 0.6%, and 3rd out of more than 200 music record companies headquartered in China, with a market share of about 1.5%.
The company has always adopted a complementary business model and consists of three independent and self-enhancing divisions, namely (1) music licensing and recording; (2) concert hosting and production; and (3) artist management. Among them, licensing music copyright and recording is the company's main business, and most of the company's revenue comes from licensing musical works.
It is worth noting that Fenghuaqiu actually mentioned in the prospectus that the company's business depends largely on one core artist, Mr. Lu Han. In the past performance period, the amount of revenue directly attributable to Mr. Luhan accounted for about 21.2%, 9.3%, 16.2% and 15.4% of the company's total revenue, respectively. Furthermore, after the performance period, the company held 10 physical concerts for Mr. Luhan. Revenue from concert hosting accounted for about 91.8% of the company's total revenue during the period.
On the financial side, in the five months of 2020, 2021, 2022 and 2023, Fenghua Qiu realized actual profits of about RMB 705.61 million, RMB 81.858 million, RMB 94.845 million, and RMB 7.983 million respectively; in the same period, the company realized net profit of about RMB 42.717 million, RMB 33.251 million, RMB 29.930 million, and RMB 16.549 million, showing a declining trend year by year.
