As the most closely watched new Hong Kong stock since the beginning of 2021, Kuaishou Technology Technology launched a roadshow today. It will launch a public offering from Tuesday to Friday, January 26, with a share price of HK $105-HK $115. at the same time, it updated its prospectus today, covering revenue of 52.5 billion in November last year and operating loss of 9.4 billion.
Affected by the continuous progress of Kuaishou Technology's listing process, short video-related stocks have soared in recent days. Yunxiang Technology is up 23.41% today, while Yingke surged 26.95% on Friday, nearly doubling in the last 10 trading days.
In addition, there are market rumors that Bilibili Inc. has formally submitted an application for listing to the Hong Kong Stock Exchange and plans to list in Hong Kong in March. Byte Jing also plans to package its Douyin, Jinri Toutiao and watermelon videos for listing in the near future. Hong Kong stock short video ecology is gradually enriching.
Kuaishou Technology will issue shares tomorrow.
In the IPO competition with Douyin, Kuaishou Technology is finally "fast" this time, and is expected to take the lead in taking over the title of "the first share of short video".
According to market news, Kuaishou Technology has launched the roadshow today and plans to issue 365 million shares from January 26 to 29 at a price range of HK $105 to HK $115,100 shares per share, with an entry fee of HK $11615.89. It is reported that Kuaishou Technology plans to go public on February 5, and the market capitalization is likely to exceed 50 billion US dollars.
It is reported that Kuaishou Technology has attracted 10 cornerstone investors and agreed to subscribe for $2.45 billion of shares. These investors include The Capital Group, Temasek, GIC Pte, Blackrock and the Abu Dhabi Investment Authority.
Yunji Inc, the investor in Kuaishou Technology's previous rounds of financing is also a star: according to the prospectus, Kuaishou Technology conducted six rounds of financing from June 2014 to February 2020, raising a total of more than US $4.8 billion, including BAT (Tencent Investment, Yunfeng Fund, Baidu, Inc.), Boyu Capital, Temasek, Sequoia Capital China, Wuyuan Capital, DST Global and so on.
Kuaishou Technology published the first revised post-hearing data set on the website of the Hong Kong Stock Exchange on January 24, saying that in the first 11 months of 2020, the company had revenue of 52.5 billion yuan, gross profit of 20.9 billion yuan, gross profit of 39.9%, and loss continued to expand to 9.4 billion yuan. In terms of product indicators, as of November 2020, the number of daily active users has dropped to 263 million, the number of monthly active users has dropped to 481 million, and the number of e-commerce GMV is 332.6 billion yuan. Kuaishou Technology also stressed that his company will continue to increase investment in sales and marketing expenses and the ecosystem in the future, and the net loss in 2020 is expected to increase from the previous year, so there is no guarantee that it will be profitable in the near future.
The newly disclosed data show that Kuaishou Technology had an average of 481 million monthly active users in the 11 months ended November 30, 2020, lower than the figure of 482 million as of September 30, 2020.
In its updated information, an analysis of the impact of the notice on strengthening the Management of Live Show and Live E-commerce issued by the State Administration of Radio and Television on November 12, 2002 was also added. Kuaishou Technology said that users' virtual reward consumption limit may eventually have a negative impact on Kuaishou Technology's virtual reward income and business performance.
As a leading domestic short video company, Kuaishou Technology has established live streaming, online marketing services, e-commerce, online games, online knowledge sharing and other cash channels. The main forms of content provided by Kuaishou Technology are short videos, live streaming and other content. Short video is the main content form for users to produce and consume on Kuaishou Technology platform.
By encouraging a culture of authenticity and diversity and providing easy-to-use tools, Kuaishou Technology popularized the content creation process and created a platform to showcase the real lives of ordinary users. As of June 30, 2020, Kuaishou Technology App uploaded an average of more than 1.1 billion short videos per month, and a total of more than 26 billion short videos were uploaded to Kuaishou Technology App.
According to the prospectus, Kuaishou Technology has become the world's largest live streaming platform, the second largest short video platform in the world, and the most active high-quality content social platform in China's content community. and has expanded live streaming, advertising, e-commerce, games and other ways of realization.
Guotai Junan believes that short videos have now formed a competitive pattern of "two superpowers and more than one strong". Douyin and Kuaishou Technology have a huge user base, and the number of active users of Douyin and Kuaishou Technology reached 374 million and 267 million respectively in December 2020. they have obvious advantages as a head platform, and they are also at the forefront of the industry in terms of content richness and commercial exploration. Tianfeng International Securities believes that Kuaishou Technology has obvious advantages, obvious core competitive advantages, and a stable basic market for live broadcast. It took Kuaishou Technology about a decade to evolve from a GIF tool into an Internet giant integrated with short video, live streaming and e-commerce, and now it has formed a duopoly with byte-beating Douyin on the short video track. From a longer-term point of view, Kuaishou Technology is expected to accumulate strength for the "copyright war" that may be faced in the future through the capital market, and at the same time achieve diversified development with the help of the capital market.
Related concept stocks soared one after another.
Affected by Kuaishou Technology to promote the ferment of listing news, short video-related concept stocks on the Hong Kong stock market have also soared in recent days.
Yunxiang Technology surged 23.41% to HK $10.86 today, a closing price that reached its highest level since its listing.
Founded in 2012, Yunxiang Technology is a domestic big data short video marketing solution provider and an online content service provider focused on pan-entertainment. At present, the company has established cooperation with the top six short video platforms in China, including Douyin, Kuaishou Technology, Watermelon Video, Douyin Volcano, good Video, Tencent and Weishi, to provide online marketing solutions to customers and advertising agencies through these top domestic network platforms.
According to iResearch, Yunxiang Technology is the largest supplier of short video marketing solutions in China in terms of user traffic consumption of advertisements of e-commerce companies that sell products or services directly through short video platforms. The cost of obtaining user traffic consumption is more than 1 billion yuan. In terms of the total bill generated by short video advertising, Yunxiang Technology is the third largest online marketing solution provider in China, with a market share of 3.4%. According to China's average DAU in 2019, Yunxiang Technology also ranks first among all pan-entertainment information websites.
On the other hand, Yunxiang Technology has a professional internal content production team. According to the data, Yunxiang Technology has produced more than 50000 short video advertising materials and other short video content, and released them on more than 40 content distribution platforms. In the field of pan-entertainment industry, Yunxiang Technology has worked with more than 50 agencies and more than 200 movie stars for a long time to produce two short video KOL brand programs "Idol Please answer" and "Entertainment Tour", which are broadcast on iQIYI, Inc., Tencent Video and other online platforms.
Yingke, which has performed very well recently, continued to rise 3.03% today, the highest level in more than a year since April 2019. It rose 26.93% on Friday (January 22), while its share price has risen 96.15% in 10 trading days since it started the rally on January 12.
Yingke is a Chinese investment holding company that mainly operates live broadcast platform and provides advertising services. It mainly operates mobile live broadcast platform in the domestic market. As the only short video live broadcast concept stock in Hong Kong, Yingke has been committed to building its innovative product matrix and exploring new space in the field of online social networking. In addition to Yingke APP, the company has launched a number of popular products such as APP and APP, which are popular in the market. Analysis shows that Yingke's recent strong performance, in addition to benefiting from Kuaishou Technology IPO's positive plate linkage, the company's layout of the multiple product matrix is also the most powerful support for the stock price rise. A few days ago, Yingke reached an agreement with Aurora Mobile Limited, a mainland mobile developer service provider, to carry out in-depth cooperation in the areas of user growth, activity and intelligent operation. Aurora Mobile Limited will enhance the stickiness of Yingke users through the stable, efficient, secure and intelligent push service built by AI technology and the operational data analysis platform supported by machine learning technology.
Activity, in order to achieve large-scale growth of users.
Judging from the financial results of Yingke in the first half of 2020, although its live broadcast business income is still the core of revenue, a number of innovative business lines have also performed well, accounting for 36.6% of the total revenue, which has strongly promoted the substantial growth of the group's overall revenue.
In addition to Kuaishou Technology, a number of short video companies are planning to list in Hong Kong this year. Among them, there have been byte beating plans to package and list its Douyin, Jinri Toutiao and watermelon videos in the near future. It is also reported that Bilibili Inc. has preliminary plans to return to Hong Kong for a second listing in March. It is reported that Bilibili Inc. has formally submitted an application for listing to the Hong Kong Stock Exchange, and the sponsor teams for this listing are Morgan Stanley, JPMorgan Chase & Co, Goldman Sachs Group and UBS. Bilibili Inc. 's listing raised US $2 billion (about HK $15.6 billion) to US $25-3 billion (HK $23.4 billion), higher than the previous estimate of US $1.5 billion.
Analysis said that with the gradual enrichment of Hong Kong stock short video ecology, related stocks may usher in a revaluation of the market value, the recent continuous rise of Yunxiang technology and Yingke is a proof.
In Guotai Junan's view, the short video market has entered the stock competition stage, under the background of user growth approaching the ceiling, the head players have turned their attention to the sinking market, and the battle of short video sinking is becoming more and more intense. In 2020, 58.1% of the new users came from third -, fourth-and fifth-tier cities. Douyin and Kuaishou Technology competed to launch the fast version of App, and more than 60% of its users came from the sinking market. Kuaishou Technology's sinking market accounted for 63.4% of the market, with an excellent performance. Kuaishou Technology has a stronger community attribute, and many types of circles and trust ties have been built under the influence of the "old iron" culture.