Digital Reading Service Provider Easou Files For Itemizing, ChatGPT Mentioned in Prospectus

Easou Technology, a digital studying enterprise headquartered in Shenzhen, just lately submitted an utility for itemizing on the Hong Kong Stock Exchange with BOC International because the unique sponsor. This utility follows its failure to IPO on Shanghai Stock Exchange STAR Market in 2020.

Chinese web large Baidu listed on Nasdaq in 2015. In the identical yr, Easou was established in Shenzhen. Born in the 2G period, Easou noticed the potential for the cellular web. Unlike Baidu, which has origins as a PC search engine, early Easou targeted on cellular searches.

In the preliminary phases of the cellular web, Easou was on par with Baidu and Google. Analysys’ knowledge confirmed that in the second quarter of 2010, the highest three corporations in the Chinese cellular search market have been Baidu, Easou, and Google, occupying 34.33%, 16.91%, and 12.29% of the market, respectively. Later that yr, Google introduced its withdrawal from the Chinese market. In the next yr, Baidu surpassed Tencent to develop into the web firm with the very best market capitalization in China.

In latest years, Easou has step by step fallen behind in the smartphone search area. In 2013, Easou launched a brand new app and step by step shifted its focus to the net studying enterprise.

According to its prospectus, Easou has efficiently utilized its clever suggestion engine to a wide range of fields, together with digital studying suggestions, digital advertising and marketing, and on-line recreation distribution. It additionally makes use of the engine to gather, analyze, match, and predict person wants and preferences.

In 2020, 2021, and the primary 9 months of 2022, the corporate achieved revenues of 410 million yuan ($59 million), 430 million yuan ($62 million), and 330 million yuan ($47 million), respectively. Among them, digital studying suggestion companies accounted for 45.2%, 50.4%, and 53.2% of the entire revenues, respectively.

According to the corporate prospectus, as of September 30, 2022, there have been 44 million registered customers on Easou’s studying apps, with a month-to-month common of 25.5 million energetic customers. By distinction, in the primary half of 2022, there have been 160 million month-to-month energetic customers on IReader Technology and 265 million on China Literature.

In latest years, free studying platforms reminiscent of ByteDance’s Fanqie Novel and Baidu-backed Qimao Novel have risen, which has impacted the paid studying area in which Easou sits.

SEE ALSO: The Rise of ChatGPT Attracts Chinese Tutoring Institutions

For its future plans, Easou is eyeing ChatGPT. According to the prospectus, the corporate stated that “ChatGPT’s arrival brings artificial intelligence closer to our daily lives.” It emphasised that ChatGPT, like different generative synthetic intelligence instruments, is a department of AI-generated content material (AIGC). Easou could intention to contain synthetic intelligence know-how to create literary works in the long run.

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