The Kwai Kong Express office opened at HK $338 today, up 193.91% from HK $115 and HK $1 trillion and 390 billion.
HK $1 trillion and 980 billion, or about US $180 billion, ranked by market value. The fastest runner is second only to Tencent, Ali, the US group and many spells, ranking fifth in China’s Internet market, about 2 times the market value of Kwai.
According to the opening price of HK $338 / share, Kwai Chung co-founder, chairman and CEO resident China reached HK $174 billion 500 million (about US $22 billion 500 million). According to Forbes real time rich figures, it is less than $1 billion from Jingdong founder Liu Qiangdong.
Kwai Chung listed on the bell (source: NetEase technology report)
In Beijing, the co operative and co founder and chief product officer of Kwai Chung, the founder and chairman of CEO, also made a speech. Kwai Hua and Cheng do or think the same without prior consulation2. The most important thing for a fast learner is always human beings, respect for people and respect for labor and creation. As in the past, the Kwai will stand firmly with the users.
Kwai said that 1024 of the stock code was chosen by express hands, because 1024 represents the power of science and technology and the advanced productivity. Kwai hopes to use the power of technology to let labor and creativity release more energy and make value creators get better returns. Cheng Kwai said that looking forward to the future, we hope that the fastest way will be able to build a community with the most temperature and trust. Let Kwai’s users live better.
According to the prospectus, Kwai will issue 365 million shares in the IPO.
The latest prospectus shows that Kwai’s revenue in the first 11 months of 2020 was 52 billion 500 million yuan, gross profit was 20 billion 900 million yuan, gross profit margin was 39.9%, and the deficit continued to expand to 9 billion 400 million yuan.
Kwai’s revenue in 2018, 2019 and the first half of 2020 was 20 billion 300 million yuan, 39 billion 100 million yuan and 25 billion 300 million yuan respectively, and the revenue as of September 2020 was 40 billion 700 million yuan.
Kwai’s net loss was 20 billion, 12 billion 400 million, 19 billion 700 million and 97 billion 400 million in 2017, 2018, 2019 and September 30, 2020, respectively, for nine months. After excluding fair value changes, the adjusted profit of Kwai Chung is 774 million, 204 million, 1 billion and 7 billion 200 million respectively.
According to the revised version, the average daily active users of the fast app Kwai rose from 262 million 400 thousand in the first 9 months of 2020 to 263 million 800 thousand as of November 30, 2020, while the daily usage of the live users continued to rise to 86.7 minutes. According to previous disclosures, the average daily active users of Kwai app and applet reached 305 million in September.
The following is the full text of Su Hua’s speech:
Suhua: those who used to be ordinary can not be ordinary
Dear friends, dear students, Hello!
It’s a pleasure to witness this moment with you. In the early days of Kwai Fu, I imagined our listing. Today, this moment, and I have imagined, some of the same, but also some different. In my imagination, the bell should be a loyal user of Kwai Chung, while I and a smile will stay at the station to write code.
Today, we have six community user representatives from all over the world, representing hundreds of millions of our creators and users. It is the growth of users who accompany the Kwai Fu all the way, and the Kwai Fu has been firmly standing with them. In a moment, we will invite these user representatives to ring the bell.
In 2011, Kwai Chok opened the era of short video. Through ten years of unremitting efforts, we make the expression of video accepted and loved by more people. This has broken the threshold of literal expression and the boundary of culture, so that more people have the opportunity to express and be seen. Those who were silent can not be silent; those who were ordinary can not be ordinary; those who were ordinary can not be ordinary.
When countless people and content are connected together, they gradually show a pluralistic and real society. They interact with each other to build an ecology with strong vitality and evolutionary ability. In this ecosystem, new business models are constantly emerging to reconstruct the business system and industry structure. Our live broadcast business and video e-commerce business are growing little by little. Our creators get respect, understanding and trust from it, and also get material rewards, thus further promoting the creation; our users get more spiritual and material consumption choices, and get more emotional resonance and warm company, so as to further promote their community identity.
In the past year, we have produced more than 13 billion videos, which has become a strong witness of the social development and the improvement of people’s sense of gain; there are nearly 9.6 trillion minutes of consumption, which is equivalent to 18 million years of human history; more than 20 million people have gained income on the platform, and the beneficiaries cover individuals, groups, industries and institutions from the first tier cities to remote areas; there are more than 20 million people With more than 300 billion Gmv, it has become an important part of the community’s diversified ecology to visit, choose and buy with confidence. We have helped many people to improve their lives by using technology, and we will help more people to survive and develop better in the digital age.
Behind all this is a belief that I and Yixiao have established since we started our business: respect for people, respect for labor and creation. We help people find what they need, give full play to their strengths, hope that those who have perseverance have perseverance, hope that those who have perseverance have perseverance, and hope to build a community that is the most warm and trustworthy. We chose 1024 as our stock code. 1024 is the tenth power of 2, it represents the lines of program code, represents the power of science and technology, represents the advanced productivity. We hope that with the power of science and technology, labor and creation can release more energy, and value creators can get better returns. We will always insist on creating long-term value for users and society.
Today’s public listing is not only a new starting point for us to accept the public test, but also a new starting point for us to meet more and greater opportunities and challenges. We will continue to forge ahead to make society better and individuals happier.
Finally, I would like to take this opportunity to thank every user who has been Kwai Fu and to every partner who has fought with us, for the past and future investors, for supporting our relatives and friends behind the back, for the birth of my villages and towns, and for 1024, for this era of opportunities and challenges.
Cheng Yixiao: to build the most warm and trustworthy community
Good morning, friends and classmates
It’s a pleasure to witness this moment with you. Today, we are on the market, which means that we have done well in the past and provided good services for our users; while a while’s Gong means the beginning of a new journey. I hope we can create more interesting and valuable things for our users in the future.
We started our business 10 years ago. Today, I am most happy that Suhua and I, as well as the partners of the founding team, have always adhered to the original intention of starting a business. We hope to create something that everyone likes for this society and our users. Fashion will change, demand will change, but we all for the user’s original intention, has not changed. We respect our users, we also respect their every work and creation.
Looking forward to the future, I hope we can build the most warm and trustworthy community. Let those who have perseverance have constancy, and those who have constancy have constancy, so that our users can live a better life.
Thanks to every user who is Kwai Fu, and every investor who thanks the past and future Kwai Fu.
Reprint indicated source：Spark Global Limited information