Keep, the "top stock of sports technology," officially landed on the Hong Kong Stock Exchange, rising nearly 11% during the session

On the morning of July 12th, Keep, a sports technology company, officially landed on the Hong Kong Stock Exchange under the stock code "3650", symbolizing "365 days, persist every day". Keep opened at HKD 30

On the morning of July 12th, Keep, a sports technology company, officially landed on the Hong Kong Stock Exchange under the stock code "3650", symbolizing "365 days, persist every day". Keep opened at HKD 30.30 per share in the morning, an increase of 4.77% from its issuance price of HKD 28.92. It briefly rose to HKD 32.00, up more than 10% during the session. As of closing, Keep's stock price was at HKD 29.00.

Wang Ning, the founder and CEO of Keep, issued an internal letter stating that from today on, Keep has become a public company, standing on a broader stage and facing more new challenges, The times have given us opportunities and given us responsibilities. In the future, we will actively participate in and promote national fitness with greater efforts, continuously help improve the health level of the people, fully participate in the cause of healthy China, and contribute our own efforts to achieve personal happiness and health to the rejuvenation of the country

Keep is a continuously evolving and delivery oriented platform that provides users with comprehensive fitness solutions to help them achieve their fitness goals. According to the prospectus, Keep's revenue in the first quarter of 2023 reached 447 million yuan, an increase of 7.2% from 417 million yuan in the same period in 2022. The annual revenue in 2022 was 2.212 billion yuan, an increase of 36.6% compared to 1.619 billion yuan in 2021, achieving significant revenue growth for three consecutive years.

The prospectus shows that the net proceeds from the fundraising will be used for the following purposes: 35% will be used for research and development in the next three years to enhance technological capabilities and drive product innovation; 30% will be used for the development and diversification of fitness content in the next three years; 25% is expected to be invested in brand promotion and promotion within the next three years; 10% is expected to be used for general corporate purposes and operating capital needs& Nbsp;

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