9158 to be listed in Hong Kong ambiguous economy show online deposit policy risk

Original title:

9158 to be listed in Hong Kong online show policy risk is still

after months of deliberation, stuffy real-time social video show the sound of fortune 9158 finally finalized listed in Hong kong.

June 25th, 9158 parent Columba interactive Holdings Ltd. formally submitted a prospectus to the HKEx, in July 9th landed in Hongkong stock exchange trading.

The IPO

prospectus, Columba interactive intends to issue 304 million 267 thousand common shares, the issue price of HK $4.5 to HK $-5.3, intends to raise funds of HK $1 billion 360 million to HK $-16.1 million.

Columba interactive owns 9158 and Sina show 2 major real-time social video community, mainly by selling virtual currency to users for access to virtual goods revenue, gross margin of nearly 90%. This model has been recognized by the capital markets, its main rival celebrations of the times (YY) previously listed on Nasdaq, the current market value of more than $4 billion.

Analysis of

Internet commentators Ding Tao said: "although 9158 to the outside of the label is a" grass root "business, but the actual support of its development is a strong willingness to pay for the elite users to online entertainment, education and the transformation of the direction of mobile gaming provides a basic support."

online show mode "muffled fortune"

9158 was founded in 2005, is the founder of "Chinese network show mode, its flagship service model is through the beautiful anchor the platform to attract users, divided into receive send virtual gifts. But this ambiguous economy is facing policy risks.

Despite the fact that

was established nearly ten years, but until the end of 2012 its competitors gathered era (YY) listed successfully, low-key 9158 before entering the public view, the first online show mode has become the object of many game player to follow, one of the most important reason is to make money".

prospectus, Columba 2011~2013 revenues were: 384 million 400 thousand yuan, 455 million 800 thousand yuan, 548 million 200 thousand yuan, corresponding net profit was 139 million 900 thousand yuan, 158 million 300 thousand yuan and 206 million 300 thousand yuan.

is worth noting that the gross margin, the company’s gross margin was 87.5% in the last three years, respectively, 88.5% and 87.6%, corresponding to the net interest rate of $36.4%, respectively, and 41.3%.

it is understood that the recent Columba interactive roadshow has been many institutional investors, or over subscription rate has reached 5-6 times.

market scale surge caused by competition

9158’s current revenue comes mainly from three aspects, including video community value-added revenue, mobile and online gaming revenue and other advertising revenue. Among them, the income from the video community more than 95%, 201>

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