China Online Fitness Platform Keep has re -submitted the application for the first public offering (IPO) in Hong Kong. The funds raised will be used to develop and attract and retain talents.The company is currently seeking to expand its business in China.
The Wall Street Journal reported that Keep, headquartered in Beijing, said in a document submitted to the Hong Kong Stock Exchange on Tuesday (September 6) that it is planned to hire about 300 new R & D engineers in the next three yearsEssenceThe company offers live and recording fitness courses, including fitness equipment including dynamic bicycles and health monitoring bracelets, as well as sports products such as yoga mats and fitness clothes.
Keep proposed that the time of the IPO plan coincides with the tepid state of Hong Kong's new stock market, concerns about the global economic recession and the slowdown in China's economic growth have restrained investors' confidence.Keep's IPO scale and timetable have not been disclosed.A IPO application submitted by the company in February this year has failed in the near future.
Keep investors include Chinese Internet giants Tencent, SoftBank Group's second Vision Fund and Hillhouse Investment Management LTD.From September 2014 to 2021, Keep conducted a nine -round financing.
Keep said that the company's revenue in 2021 increased by 46%to 1.62 billion yuan (RMB, the same below, about 327 million yuan), and the net loss expanded from 2.24 billion yuan to 2.91 billion yuan in the same period, and to 2.91 billion yuan.Increased expenditure in brand promotion and traffic acquisition.The company also said that it is expected to continue to generate net losses in the future, partly due to increased investment in promoting user growth.
Keep quoted a report from the management consultation of burning corporate corporates that the number of exercises completed by users and users monthly is calculated, and Keep is China's largest online fitness platform.Keep said that in the first half of this year, the average monthly active user of its platform was 37.7 million.Keep was established in 2014.
Goldman Sachs and China International Finance Co., Ltd. served as the joint sponsor of the IPO.
