On July twelfth, Keep, the primary sports activities know-how firm, formally listed on The Stock Exchange of Hong Kong with the inventory code “3650”. The opening worth was about $3.87, a 4.77% improve from the problem worth, leading to a market capitalization of $2 billion. As of the time of writing, Keep’s inventory worth barely dropped to round $3.7 throughout buying and selling hours and is now barely under the problem worth.
Keep supplies a one-stop resolution for health customers all through your complete health lifecycle, providing on-line health content material, sensible health gear, and accompanying sports activities merchandise. According to the most recent Kapbook prospectus, its complete income has achieved three consecutive years of development, rising from ¥1.107 billion in 2020 to ¥1.619 billion (about $20.67 million) in 2021, and additional considerably rising to ¥2.212 billion (about $28.26 million) in 2022.
In addition, Keep’s beforehand involved subject of losses has additionally seen some enchancment. In 2021, attributable to important advertising bills for the push towards going public, the losses sharply expanded. However, by 2022, Keep managed to considerably slender down its losses from ¥827 million to ¥667 million ($85,215) and cut back the loss fee from round 50% to about 30%.
SEE ALSO: Chinese Fitness App Keep Updates HKEx Prospectus
In phrases of income construction, Keep’s income primarily consists of three components: gross sales from its personal branded merchandise, membership subscriptions and on-line paid content material, and promoting and different sources. From 2020 to 2022, the proportion of income from Keep’s personal branded merchandise previously three years was 57.5%, 54%, and 51.4% respectively.
The proportion of income from membership subscriptions and on-line paid content material previously three years was 30.5%, 34.4%, and 40.4% respectively. The proportion of income from promoting and different sources previously three years was 12%, 11.7%, and eight.2%. In the previous, Keep has usually been criticized for relying an excessive amount of on client items enterprise for its income construction; nonetheless, with the expansion in earnings from membership subscriptions and on-line paid content material, its income construction is changing into extra balanced now.
Keep’s complete providing this time is 10,839,000 shares, together with 9,754,700 shares for worldwide providing and 1,083,900 shares for public providing in Hong Kong. The portion of public providing in Hong Kong was oversubscribed 3.08 occasions and the worldwide providing was oversubscribed 1.37 occasions, demonstrating market recognition.
Keep’s founder and CEO, Wang Ning (Neo), delivered a speech on the itemizing ceremony, stating that below the steering of the nationwide technique of ‘Healthy China,’ Keep has achieved fast development and progress. In the longer term, we’ll proceed to uphold our mission, stand on a broader stage, and embrace extra new challenges.
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