VSPN chose to be listed on Hong Kong stocks.
On January 31, hero sports VSPN Group Limited (hereinafter referred to as VSPN), the world's largest E-sports operator, submitted form A1 to the Hong Kong stock exchange. Bank of America Securities, China International Capital Corporation Limited(601995) and Credit Suisse served as co sponsors.
VSPN was founded in 2016. Ying Shuling, Teng Linji, Tang Danni, Wu Sheng, Zheng duo and Zhang Yongkang are the co founders of VSPN. Tencent holds 13.54% of the shares. Ying Shuling, the founder, CEO and actual controller of the company, and those acting in concert hold 35.05% of the voting rights.
According to public data, VSPN provides 29 well-known competitive games such as king glory, peace elite, AOV, free fire, pubg, pubg mobile and KartRider rush with one-stop comprehensive services such as event organization, event content production and commercialized derivative channels. It is the only enterprise in China to complete the business layout of the whole ecological chain of E-sports.
The company's business scope includes more than ten countries and regions in Southeast Asia, America, Europe and other places. According to the frost Sullivan report, VSPN ranks first in the industry in terms of E-sports event business and commercialization revenue in Asia and China.
According to the prospectus data, in the first nine months ended September 30, 2021, VSPN recorded a total revenue of 1.322 billion yuan, an increase of 144% over 541 million yuan in the same period in 2020. E-sports event operation, commercialization and community operation have become the three core elements of VSPN's revenue source. According to the data of the first nine months of 2021, the above three revenues contributed 466 million yuan, 451 million yuan and 343 million yuan respectively, accounting for 35.3%, 34.1% and 25.9% of the total revenue respectively. At the same time, the prospectus shows that the company has not yet made a profit. In the first nine months of 2021, the adjusted loss was about 317 million yuan. The main costs included E-sports content production, anchor sharing, employee costs, etc., of which the production cost of E-sports content was 538 million yuan, a year-on-year increase of 40.7%.
In recent years, VSPN has completed many mergers and acquisitions of other upstream and downstream industrial chain companies. Last April, VSPN announced its acquisition of logging company. After the merger and acquisition, logging tired will continue to operate independently as an independent brand of hero sports VSPN. Last January, VSPN acquired banana game media. It is generally believed that in addition to the complementarity in the production and operation of events and the production of Pan entertainment content, the MCN organization of banana game media has a large number of artist resources such as E-sports hosting and interpretation, which is also the key to the acquisition.
By the end of September 2021, VSPN had managed a total of 5589 active talents and anchors, and reached cooperation with 18 well-known E-sports clubs to be responsible for their live broadcasting and commercial activities, including team liquid, T1, we, qghappy and 4am and other well-known first-line E-sports clubs.
