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Keep成交额再创新高,国泰君安看好其“健身内容+运动产品”模式,给予“增持”评级

Keep the turnover to a new high. Guotai Junan is optimistic about its “fitness content+sports products” model and gives it a “gain” rating

JRJ Finance ·  Apr 24 16:35

At the close of trading on April 24, Keep's share price rose steadily, reaching an intraday high of 24.89% to HK$8.58 per share. At the close of trading on the same day, Keep's stock price rose 19.65% to HK$8.22 per share. The turnover broke another record, reaching HK$424.5 million, and the trading volume exceeded 50 million shares.

Recently, Keep released its 2023 performance report. According to financial reports, Keep's total revenue was 2,138 billion yuan, and adjusted losses narrowed by 55.7% to 295 million yuan (loss of 667 million yuan in the previous year). According to the Guotai Junan Research Report, Keep's loss stoppage was better than previously anticipated and maintained a “gain” rating.

Currently, Keep's revenue mainly consists of its own brand sports products, online membership and paid content and advertising, and three other segments. Due to the rapid growth of virtual sports events, the total revenue of the online business increased by 11.4% to 996 million yuan, making it the largest source of revenue and effectively increasing gross profit margin.

Guotai Junan said that the company promotes loss reduction through optimized business structure and fee control measures. “We continue to be optimistic that the company will rely on fitness content+sports products to provide users with one-stop solutions, and future development can be expected.”

According to the 8.0 version released recently, Keep's current sports content and functions are more comprehensive, covering more than 60 sports categories, including indoor fitness programs such as exercise classes, boxing, and pilates, as well as outdoor sports such as ball, swimming, frisbee, skiing, and rock climbing; the app also supports the connection of more than 50 types of external devices, making data recording more convenient while opening up non-ecological hardware devices. It is expected to connect a larger user base and further increase in commercial value.

The translation is provided by third-party software.


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