Keep submitted its listing application to the Hong Kong Stock Exchange

2022-07-25 0 By

On February 26, The Beijing News learned that Keep, China’s largest innovative online fitness platform, has officially submitted an application for an initial public offering (IPO) to the Hong Kong Stock Exchange.According to the prospectus, Keep’s main revenue sources include consumer products, membership and paid courses, as well as advertising and other revenue.In the first nine months of 2021 to September 30, Keep generated revenue of 1.16 billion yuan, up 41.3 percent from the same period last year, the data showed.Keep achieved total revenue of 1.11 billion yuan in 2020, up 66.9 percent from 663 million yuan in 2019.Non-ifrs adjusted net loss narrowed from rmb366 million in 2019 to RMB106 million in 2020.The company recorded an adjusted net loss of $696 million in the first three quarters of 2021 as it increased spending on advertising and branding as a result of increased confidence in long-term profitability.As of December 31, 2021, there were more than 10,000 recorded fitness classes and more than 13,000 live classes on the Keep platform, according to the prospectus.As of December 31, 2021, Keep ranked first in sales of smart bikes in China in terms of gross merchandise volume of cumulative bike sales, according to a cauterizing report.Beijing News reporter Wang Ping editor Wang Lin proofread Fu Chunyin