Shulou(Shulou.com)11/24 Report--

CTOnews.com, March 28 (Xinhua)-- Keep, an intelligent fitness platform and sports technology company, once again submitted a prospectus to the Hong Kong Stock Exchange, with Goldman Sachs and China International Capital Corporation as co-sponsors of the IPO, according to documents filed by the Hong Kong Stock Exchange.

In terms of income, it increased from 1.11 billion yuan in 2020 to 1.62 billion yuan in 2021, an increase of 46.3 percent over the same period last year, and further increased to 2.21 billion yuan in 2022, an increase of 36.6 percent. On the profit side, the adjusted net loss of Keep (CTOnews.com Note: non-IFRS) was $106 million and $827 million respectively in 2020 and 2021, and narrowed to $667 million in 2022.

In terms of operating data, the average monthly active users of Keep platform in 2020, 2021 and 2022 were 29.7 million, 34.4 million and 36.4 million respectively, and the average monthly subscription members of Keep were 1.91 million in 2020, 3.28 million in 2021 and 3.62 million in 2022.

In terms of shareholding, before IPO, Keep founder and CEO Wang Ning held 16.97%, co-founder Peng Wei 2.06%, co-founder Liu Dong 1.08%, co-founder Wen Chunpeng 14.73%, Softbank Corp. 9.48%, and other investors 54.62%.

The three main businesses of Keep are online fitness content, intelligent fitness equipment and supporting sports products, while the three major revenues of Keep come from subscription members and paid content income based on online content, private brand sports product revenue composed of intelligent fitness equipment and supporting sports products, and advertising and other income. As of December 31, 2022, the total number of recorded and broadcast classes on Keep platform is 21200, and the number of live classes is more than 9100.

According to the prospectus, the revenue from Keep subscription members and online paid content in 2022 was 894 million yuan, an increase of more than 60% over the same period last year. This growth is mainly due to the increase in the number of Keep subscription members. The penetration rate of Keep members reached 10% in 2022. The contribution value of per capita income of keep members reached 246.9 yuan in 2022. In 2022, the revenue of Keep's own-brand sports products reached 1.137 billion yuan, accounting for more than 50%. Among them, the total sales of Keep smart bikes ranked first in the field of smart bikes in China in 2022.

In February 2022, Keep formally submitted its prospectus to the Hong Kong Stock Exchange. In August of the same year, because Keep failed to pass the hearing within six months of submitting the prospectus, the application status of IPO became "invalid". In September 2022, Keep updated its prospectus.

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