Huafang Group, Huajiao TV's parent company, landed on the Hong Kong Stock Exchange, with Zhou Hongyi as the largest shareholder

CTOnews.com December 12 news, Huafang Group today officially landed on the Stock Exchange of Hong Kong, stock code 3611, its sponsors are Haitong International and Jianyin International. In the past three years, the cumulative revenue has exceeded 10 billion yuan.

According to the data, Huafang Group opened at HK $3.29, up 17.5% from its offering price of HK $2.8. According to the prospectus, Huafang Group is an Internet company with Huajiao TV, six rooms, HOLLA and other products, mainly in the areas of live entertainment and overseas business.

CTOnews.com learned that Huafang Group achieved operating income of 2.831 billion yuan, 3.684 billion yuan and 4.6 billion yuan and gross profit of 706 million yuan, 1.011 billion yuan and 1.223 billion yuan respectively from 2019 to 2021, while revenue and profit maintained steady growth.

As of May 31, 2022, the cumulative number of registered content creators of Huafang Group has reached 11.03 million. The retention rates of Zanthoxylum bungeanum and six rooms paying users are 72.2% and 67.9% respectively.

It is worth noting that the largest shareholder of Huafang Group is Zhou Hongyi, founder of Huafang Group, who controls about 38.21% of Huafang Group through Qihoo 360, Zanthoxylum bungeanum No. 1 and Zanthoxylum II; the second largest shareholder is Songcheng Performing Arts, which holds 37.06% through Global Bacchus Limited and 6.25% through Blossom Bliss Limited.

Prior to this, 360 Digital and Master Lu, incubated by 360 Group, were also listed on US stocks and Hong Kong stocks respectively. 360 Digital is also listed on the Hong Kong Stock Exchange on November 29, 2022. This means that Zhou Hongyi, chairman of the company, received two IPO in succession in Hong Kong within two weeks.