Alternative listing: 9158 all online KTV

Following the gathering era (YY) landing NASDAQ, another video interactive platform successfully listed.

July 9, 2014, 9158 Tiange Interactive (the "9158"), the parent company, was officially listed on the Hong Kong Stock Exchange with an opening price of HK $ 5.99, an increase of 13.45% over the issue price of HK $ 5.28. According to the opening price, the company's market capitalization reached 7.3 billion Hong Kong dollars, while the largest shareholder, founder and CEO Fu Zhengjun personal worth reached 1.83 billion Hong Kong dollars.

Founded in 2005 9158 to video chat started to build China's first video show field, so that the anchor can be virtualized in front of the computer platform for singing and acting. After that, it began to seek a transition from a single show floor mode to all online KTV, allowing users to video chat room for a variety of social activities.

And YY focuses on recruiting good anchors, preferring the nature of video appreciation is different, 9158's video interaction is mainly one-to-many and many-to-many model, similar to the online KTV, the emphasis is that everyone involved in the interaction and sharing. Currently, 9158 owns 9158 and Sina show two major real-time social video community and seven other smaller similar communities.

From the prospectus, the 9158's revenue comes mainly from three aspects, including the video community value-added revenue, mobile and online games revenue and other advertising services revenue, of which more than 95% revenue from the video community. In 2011, 2012 and 2013, the revenue of 9158 was 384 million, 456 million and 548 million respectively, while the gross profit margin for the three years was 87.5%, 88.5% and 87.6% respectively, which exceeded Alibaba BAT with the highest gross margin.

"The 9158 will be profitable and successful, mainly because users have a need for a video community, and the market is going to have a lot of growth." With YY, which is similar to the 9158 business model, six rooms are also profitable. "Analysys Think Tank Analysis Pang Yi-ming said.

After the successful listing, in accordance with the 9158's plan, the future will actively enter the field of video medical and mobile games, while exploring and promoting online video to offline integration and expansion.

In addition, the mobile game business, Fu Zhengjun said that in the third quarter of last year, 9158 mobile terminal products have achieved rapid development, this year will also be launched 6 to 8 game products, these games will interact with the video By combining, driven by the video anchor effect, enhance user stickiness, develop user's spending habits.

As the video community model gradually recognized by the market, many video sites and community players are interested in this piece of cake. Data show that the real-time social video community industry users have increased from 8 million in 2009 to 140 million in 2013, a CAGR of 104.5%.

There are industry concerns, the video community has always been a gray area of ​​regulation, the risk is large and difficult to control.

In response, 9158 said it will take a number of measures to control its risks, including quarantining its anchor and chat rooms, isolating homeowners from its distributors and the Gendarmerie platform and separating its distributors from the Gendarmerie interactive platform.