Chinanet finance learned that celadon game announced the IPO results. Celadon game is priced at HK $11.2 per share, which is the lower limit of the bidding price range of HK $11.2 to HK $14. The net fund-raising is HK $860 million, the one hand signing rate is 20.8%, and you can safely get one hand by drawing 5 hands (2500 shares). Celadon game will be launched on December 16.
A total of 8908 people subscribed for the Hong Kong public offering of celadon games, with an oversubscription of 2.64 times and an oversubscription of 0.77 times for the international offering.
Celadon game is a well-known mobile game developer and publisher in China. It is welcomed by the younger generation aged 30 or below. It is a leading enterprise in China's leisure games (especially placement games) and rogue like RPG. At present, it operates six mobile games and has 10 mobile game reserves. Including five placement games or roguelike RPGs and one other RPG.
The most powerful snail, the iconic mobile game of celadon game, recorded a running water of more than 400 million yuan in the first month after its launch in June 2020, and the average Mau from June to December 2020 was 4.4 million. The strongest snail ranked second in the best-selling list of IOS games in China in 2020. This game generated revenue of RMB 1.17 billion and RMB 516.5 million in 2020 and the six months ended June 30, 2021, respectively, accounting for 95.3% and 67.7% of the total revenue in these periods respectively.
Lantern and dungeons was launched in March 2021. In the first month, the flow exceeded 185 million. It topped the top ten free IOS games in China for six consecutive days and ranked fourth in the best-selling IOS games in China. Due to the release of significantly updated new versions, not thinking maze and endless adventure recorded the highest monthly flow in the 6th and 51st months after their respective launch dates, respectively.
According to frost Sullivan, in terms of revenue, the top five market participants in China's mobile game market will hold a total market share of 72.5% in 2020, while the top two market participants will hold a total market share of 60.4%. According to the same data source, in terms of revenue, it will occupy 0.4% market share in 2020, ranking 20th among all market participants in China.
As of August 31, 2021, celadon had more than 70.15 million registered players, with an average Mau of 2.94 million and an average MPU of 510000. As of June 30, 2021, arppu was 221 yuan.
According to the prospectus, the revenue of celadon game from 2018 to the first half of 2021 was 98.42 million yuan, 88.7 million yuan, 1227 million yuan and 763 million yuan respectively. In the same period, the gross profit was 76.75 million yuan, 68.74 million yuan, 942 million yuan and 575 million yuan respectively; In 2018, 2019 and 2020, the adjusted net profit (non IFRS) of celadon game was 38.9 million yuan, 22.3 million yuan and 166 million yuan respectively, with a compound annual growth rate of 106.8% over the three years.
The gross profit margins of celadon games were 78%, 77.5%, 76.8% and 75.3% respectively, showing a downward trend year by year.
Before IPO, Tencent, Alibaba and station B held 4.99% and Boyu capital held 1.87% respectively.
From the perspective of industry development, China's game market has become the largest game market in the world, with a market scale of RMB 308.4 billion in 2020. It is expected that the market scale of China's game market will further increase to 504.5 billion yuan in 2025, with a CAGR of 10.3% from 2020 to 2025, exceeding the expected CAGR of 7.3% of the global game market in the same period.
China's leisure game market is expected to increase from 46.3 billion yuan in 2020 to 83.6 billion yuan in 2025. China's RPG market is expected to increase from 67.6 billion yuan in 2020 to 123.3 billion yuan in 2025. In addition, among all game types in China in 2020, casual games have the largest user base, which is expected to remain unchanged in 2025.
About 35% of the net proceeds from celadon games are used to expand the game product portfolio and invest in game R & D capacity and related technologies; 25% strategies for expanding the game portfolio; 15% is used to strengthen the game distribution and operation capacity in China's mobile game market and the market popularity of "celadon" brand and its IP; 15% for strategic investment and acquisition of upstream and downstream companies in the mobile game industry chain in the next three to five years; 10% for working capital and general corporate purposes.
(zhonghua.com Finance)
