The entertainment industry in China is recovering steadily.
Huafang Group (Chinese: 花房集团, HK: 3611), a Chinese live entertainment brand, was successfully listed on the Hong Kong Stock Exchange on 12 December. The sponsors of its IPO were Haitong International and CCB International.
On the day of listing, Huafang Group reached a maximum increase of 28.57%.
Huafang Group is a leading live entertainment brand in China, providing users with a wide range of products and services to build a globally influential online social entertainment ecosystem. Overseas, Huafang Group operates various products such as Holla, Omega, Camsea and Monkey in many countries.
Based on the data, Huafang Group is performing steadily. The total revenue from 2019 to 2021 is CNY 2.83 billion (USD 405.8 billion), CNY 3.68 billion and CNY 4.6 billion, respectively. The revenue generated by live streaming services corresponds to CNY 2.82 billion, CNY 3.67 billion and CNY 4.48 billion, with the audio and video live streaming business accounting for 99.6%, 99.6% and 97.3% of the total revenue, respectively.
Huafang Group's total revenue for the first five months of 2022 was CNY 2.09 billion, and revenue generated from live streaming services was CNY 2.02 billion, exceeding the same period's performance last year.
Dan Yu, CEO of Huafang Group, said that a dual engine drives the company's performance growth with a steadily upward-looking live entertainment business as the foundation and a fast-growing social business as the second growth path.
As of press time, Huafang Group closed at HKD 3.34 apiece, with a market cap of HKD 3.34 billion.