繁
简
Market+ (iPhone)
Market+ (Android)
Mobile Site
US STOCKS
FUNDS
FX & CRYPTO
SH/SZ-HK
HK STOCKS
 
 
 
 
 
 
Quote Service
Market
Market
Quotes
Quotes
Analysis
Analysis
Commentary
Commentary
Warrants&CBBCs
Warrants&CBBCs
Warrants&CBBCs Overview
Warrants
CBBCs
ETF
ETF
MPF
MPF
Education
Members
Members
About Us
About Us

IPO Plus - IPO

To-be Listed
Name▼
/
Code▼
 Industry Offer Price Lot Size Entry Fee Closing Date
Grey Market Date▼
Listing Date▲
Minieye Tec
02431.HK		 Application Software 17-20.2 200 4,081 2024/12/20 Data is not available 2024/12/27
Xunfei Healthcare
02506.HK		 Application Software 82.8 50 N/A 2024/12/23 2024/12/27 2024/12/30
InnoScience
02577.HK		 Semiconductors & Semiconductor Equipment 30.86-33.66 100 3,400 2024/12/23 2024/12/27 2024/12/30
HealthyWay
02587.HK		 Health Care Services 7.8-8.8 500 4,444 2024/12/23 2024/12/27 2024/12/30
QINGCI GAMES (06633.HK)
Summary
We are an established mobile game developer and publisher in China, offering mobile games that are designed to provide captivating content as well as distinctive and engaging gameplay experiences to players in mainland China and overseas. Our games are particularly popular among the young generation that is aged 30 or below. As a leader in casual games, especially idle games, and rogue-like RPGs in China, we have developed, published and operated a number of popular games. Our growth during the Track Record Period was primarily driven by the launch of new games. As of the Latest Practicable Date, we operated six mobile games and we had a pipeline of 10 mobile games.

Our Existing Games

Our landmark mobile games, such as The Marvelous Snail (最強蝸牛), have recorded significant gross billings and achieved high rankings on the game lists widely recognized in our industry. For example, The Marvelous Snail recorded gross billings exceeding RMB400 million in the first month following its launch in June 2020 and had an average MAU of 4.4 million from June to December 2020. The Marvelous Snail also obtained the ranking of No. 2 on the iOS Bestseller Games List in China in 2020. This game generated revenues of RMB1,170.0 million and RMB516.5 million in 2020 and the six months ended June 30, 2021, respectively, accounting for 95.3% and 67.7% of our total revenues in these respective periods, and therefore it was the main driver for our net profit growth in these periods. See “Risk Factors—Risks Related to Our Business and Industry—A small number of games have generated a substantial majority of our revenues and the growth of our revenue in 2020 and the first six months of 2021 compared with prior periods relied heavily on one of these games. Failure to maintain the success and extend the lifecycle of these games and competition from other games of the same genre with similar content may materially and adversely affect our business and results of operations” and “Risk Factors—Risks Related to Our Business and Industry—We may not be successful in developing new games, and if we are unable to effectively control our research and development costs, our results of operations may be materially and adversely affected.” The gross billings of Lantern and Dungeon (提燈與地下城) exceeded RMB185 million in the first month following its launch in March 2021. It also topped the iOS Top 10 Free Games Chart in China for six consecutive days after its launch and obtained the ranking of No. 4 on the iOS Bestseller Games List in China. Our outstanding game publishing and operation capabilities enable us to reach a broad, active player base. In the six months ended June 30, 2021, the average MAU for all of our games amounted to 3.1 million. Competition in China’s mobile game market is intense, with a few major market players dominating the market and tens of thousands of mobile game companies competing with each other. In China’s mobile game market, the top five market players collectively held a market share of 72.5% and the top two market players held an aggregate market share of 60.4% in terms of revenue in 2020, according to Frost & Sullivan. In 2020, we held a market share of 0.4%, as measured by revenue, ranking 20th among all market players in China, according to the same source.

Consistent with industry practice, we normally conduct significant marketing and promotion activities for a game before and around the time we officially launch this game and when we release new versions with substantial updates of this game. Accordingly, the gross billings, revenue contribution and key operating metrics such as average MAUs and average MPUs for a game could be relatively high in the first month after its launch or the release of a new version with substantial updates. That is, key operating metrics of our games could fluctuate around the time of a new game’s launch and the release of new versions of the game supported by our corresponding marketing and promotion activities. For example, while The Marvelous Snail and Lantern and Dungeon have recorded the highest gross billings in the first month after their respective launch dates, Gumballs & Dungeons (only considering gross billings generated from our publishing of this game) and Eternal Adventure have recorded the highest monthly gross billings in the sixth and 51st month after their respective launch dates, which resulted from releases of their new versions with substantial updates. In addition, The Marvelous Snail experienced a slowdown in revenue growth in the first six months of 2021 compared to the year of 2020, as it moved to the maturity stage. Likewise, this game experienced declines of its average MAUs and average MPUs from 4,417 thousand and 701 thousand, respectively, in 2020 to 1,481 thousand and 257 thousand, respectively, in the six months ended June 30, 2021. These changes represented a natural development along a new game’s lifecycle. During the Track Record Period, our revenue and profit were materially affected by the fluctuations in performance of a limited number of landmark games. As we launch more games in future, we expect that we will rely less on a single landmark game, which would be able to reduce the fluctuations of our revenue and profit.

According to Frost & Sullivan, we have achieved the following remarkable results:

‧ We ranked third and second among all mobile game companies in China in 2020 in terms of gross billings from casual games and idle games, respectively, holding a market share of 4.4% and 16.7%, respectively.

‧ We ranked second among all mobile game companies in China in 2020 in terms of gross billings from self-developed rogue-like RPGs, holding a market share of 8.6%.

‧ We ranked fourth, in terms of average gross billings per self-developed game in 2020, among all mobile game companies in China that had aggregate gross billings from self-developed games of over RMB1.0 billion.

‧ The lifecycles of our games in operation as of the Latest Practicable Date generally ranged from 60 to 96 months, significantly longer than the industry average for idle games (10 months) and for rogue-like RPGs (12 months).

Source: Qingci Games (06633) Prospectus (IPO Date : 2021/12/06)
Listing Market MAIN
Industry Gaming Software
Background Others
Major Business Area N/A
Corporate Information
Substantial Shareholders Yang Xu (29.81%)
G-bits Network Technology (Xiamen) Co., Ltd. (18.55%)
Huang Zhiqiang (9.01%)
Ye Jiting (7.26%)
[09988] Alibaba Group Holding Limited (5.34%)
Directors Yang Xu (Chairman and President and Executive Director)
Huang Zhiqiang (Chief Executive Officer and Executive Director)
Zeng Xiangshuo (Chief Operating Officer and Executive Director)
Liu Siming (Chief Financial Officer and Executive Director)
Fang Weijin (Independent Non-Executive Director)
Lam Sing Kwong Simon (Independent Non-Executive Director)
Yuan Yuan (Independent Non-Executive Director)
Company Secretary Zhu Chengyin
Yung Mei Yee
Principal Bankers China Merchants Bank
Xiamen International Bank
Industrial Bank Co., Ltd
CMB Wing Lung Bank Limited
Solicitors Cleary Gottlieb Steen & Hamilton (Hong Kong)
Auditors BDO Limited
Registered Office 40th Floor, Dah Sing Financial Centre, No.248 Queen’s Road East, Wanchai, Hong Kong
Share Registrars Computershare Hong Kong Investor Services Ltd. [Tel: (852) 2862-8628]
Share Registrars Tel No (852) 2862-8628
Internet Address http://www.qcplay.com
Email Address ir@qcplay.com
Tel No
Fax No
 
SITEMAP
AASTOCKS.com
 
 
Members
 
About Us
Market
Quotes
 
Analysis
News & Research
 
Commentary
 
Warrants&CBBCs
 
Warrants
 
CBBCs
 
US Stocks
Forex
 
Fund
 
MPF
Email: support@aastocks.com
AASTOCKS.COM LIMITED (阿斯達克網絡信息有限公司) All rights reserved.
Disclaimer
You expressly agree that the use of this app/website is at your sole risk.

AASTOCKS.com Limited, HKEx Information Services Limited, China Investment Information Services Limited, Shenzhen Securities Information Co. Ltd, Nasdaq, Inc., their respective holding companies and/or any subsidiaries of such holding companies, their Sources and/or other third party data provider(s) endeavour to ensure the accuracy and reliability of the Information provided but do not guarantee its accuracy or reliability and accept no liability (whether in tort or contract or otherwise) for any loss or damage arising from any inaccuracies or omissions.

Neither AASTOCKS.com Limited, HKEx Information Services Limited, China Investment Information Services Limited, Shenzhen Securities Information Co.Ltd., Nasdaq, Inc. nor their respective holding companies and/or any subsidiaries of such holding companies nor their Sources and/or other third party data provider(s) make any express or implied offers, representations or warranties (including, without limitation, any warranty or merchantability or fitness for a particular purpose or use) regarding the Information.

Neither AASTOCKS.com Limited, HKEx Information Services Limited, China Investment Information Services Limited, Shenzhen Securities Information Co. Ltd., Nasdaq, Inc. nor their respective holding companies and/or any subsidiaries of such holding companies nor their Sources and/or other third party data provider(s) will be liable to any Subscriber or any other party for any interruption, inaccuracy, error, or omission, regardless of cause, in the Information or for any damages (whether direct or indirect, consequential, punitive, or exemplary) resulting from its use by any party.

AASTOCKS.com Limited shall not be liable for any failure or delay in performance of its obligations under this Disclaimer because of circumstances beyond its reasonable control, including but without limitation, acts of God, typhoons, rainstorms, other natural disasters, government restrictions, strikes, wars, virus outbreak, network failures or telecommunications failures.

Morningstar Disclaimer: Copyright © 2020 Morningstar, Inc. All Rights Reserved. The information, data, analyses and opinions ("Information") contained herein: (1) include the proprietary information of Morningstar and Morningstar’s third party licensors; (2) may not be copied or redistributed except as specifically authorised; (3) do not constitute investment advice; (4) are provided solely for informational purposes; and (5) are not warranted to be complete, accurate or timely. Morningstar is not responsible for any trading decisions, damages or other losses related to the Information or its use. Please verify all of the Information before using it and don’t make any investment decision except upon the advice of a professional financial adviser. Past performance is no guarantee of future results. The value and income derived from investments may go down as well as up.

The information and contents contained in this app/website are based on the analyses and interpretations of publicly available information obtained from sources believed to be reliable. Such analyses and information have not been independently verified and AASTOCKS.com Limited makes no guarantees to their accuracy, completeness, timeliness or correctness.

The information, financial market data, quotes, charts, statistics, exchange rate, news, research, analysis, buy and sell ratings, Education Center and other information on this app/website should be used as references only at your own discretion. Prior to the execution of a security or any other trade based upon the Information, you are advised to consult independent professional advice to verify pricing information or to obtain more detailed market information. AASTOCKS.com Limited is not soliciting any subscriber or app/website visitor to execute any trade. Any trades executed following the said information, commentaries and/or buy/sell ratings on this app/website are taken at your own risk for your own account.

AASTOCKS.com Limited provides the information and services on an "AS IS" basis. The information and contents on this app/website are subject to change without notice. AASTOCKS.com Limited reserves the right, in its sole discretion but without any obligation, to make improvements to, or correct any error or omissions in any portion of this app/website at any time.

The subscriber or app/website visitor agrees not to reproduce, retransmit, disseminate, distribute, broadcast, publish, circulate, sell or commercially exploit the information and contents on this app/website in any manner without the express written consent of AASTOCKS.com Limited.

Investment involves risk. You may make use of the Education Center of this website for academic reference purposes at your own discretion. AASTOCKS.com Limited cannot and does not give any assurance that the present or future buy/sell commentaries and signals on this app/website will be profitable. AASTOCKS.com Limited cannot guarantee, and the subscriber or app/website visitor should not assume, that the future performance will equal past performance.

AASTOCKS.com Limited may point to other sites that may be of interest to the subscriber or app/website visitor but for which AASTOCKS.com Limited has no responsibility and only provides this as a service to the subscriber or app/website visitor.

AASTOCKS.com Limited does not represent or endorse the accuracy or reliability of any information, advertisements or contents contained on, distributed through, or linked, downloaded or accessed from any of the services on this app/website. AASTOCKS.com Limited cannot and does not guarantee the quality or reliability of any products or information purchased or obtained by you as a result of an advertisement or any other information displayed on this app/website.

AATV is a video platform owned by AASTOCKS.com Limited.

You acknowledge that: (i) AATV is provided for information purposes only and, in particular, is not intended for trading purposes; (ii) AATV does not and none of the information contained in its program constitutes a solicitation, offer, opinion, or recommendation by us to buy or sell any security, or to provide legal, tax, accounting, or investment advice or services whether or not regarding the profitability or suitability of any security or investment; and (iii) AATV is not intended for use by, or distribution to, any person or entity in any jurisdiction or country where such use or distribution would be contrary to law or regulation.

The financial analysis or opinion expressed in the AATV programs is for reference and discussion only, and does not represent AASTOCKS.com Limited. Investors must make their own investment decisions based on their own investment objectives and financial situation. AASTOCKS.com Limited shall not, directly or indirectly, be liable, in any way, to you or any other person for any: (i) inaccuracies or errors in or omissions from AATV including, but not limited to, quotes and financial data; (ii) delays, errors, or interruptions in the transmission or delivery of AATV; or (iii) loss or damage arising therefrom or occasioned thereby, or by any reason of nonperformance.

AASTOCKS.com Limited reserves the right to change this Disclaimer at any time by posting changes online at this app/website. You are responsible for reviewing regularly information posted therein to obtain timely notice of such changes. Your continued use of this app / website after changes are posted constitutes your acceptance of this Agreement as modified by the posted changes.

The disclaimer herein shall be governed by the law of the Hong Kong Special Administrative Region of the People's Republic of China ("Hong Kong") and you agree to submit to the exclusive jurisdiction of the Hong Kong courts.

In the event of any discrepancy between the Chinese and English versions, the English version shall prevail.

Last updated on 6 January 2023.