On the evening of July 26th, Xingjing Weiwu was listed on the NASDAQ Stock Exchange with the stock code "NIPG". In this IPO, Xingjing Weiwu Group issued 2.25 million ADS (American Depositary Shares) at a price of $9 per ADS, raising a total of $20.25 million.
According to the prospectus of Xingjing Weiwu Group, He Youjun, son of He Hongcan, is the largest shareholder of Xingjing Weiwu Group with a shareholding ratio of 14.2%. He Youjun also serves as the Chairman and CEO of Xingjing Weiwu Group. In addition, the group's investors also include SIG, ZhenFund, Wuhan Culture and Tourism Group, Shenzhen Guangdian, etc.
According to public information, Xingjing Weiwu Group owns two major esports clubs, eStar and NIP (Ninjas in Pyjamas), with a focus on mainstream esports projects such as League of Legends, Honor of Kings, and CS: GO. Its business covers Asia, Europe, South America, and other regions.
It is reported that He Youjun's e-sports entrepreneurial path originated from the V5 e-sports club established in 2018. Less than a year after the club's establishment, its parent company Shenzhen Weiwu Esports Network Technology Co., Ltd. completed a Series A financing of 120 million yuan. According to public information, this is the largest single financing in the domestic e-sports industry. Afterwards, He Youjun promoted the merger of V5 Club and the veteran esports club eStar, and completed the acquisition of NIP Club, which is one of the largest cross-border mergers and acquisitions in the world to date.
According to the prospectus, Xingjing Weiwu's revenue for 2023 was 83.67 million US dollars, an increase of 27% compared to the same period last year's 65.8 million US dollars; The gross profit was 7.2 million US dollars, compared to 3.74 million US dollars in the same period last year.
At the same time, the prospectus shows that Xingjing Weiwu Group is building a unique "e-sports+" business model, extending talent brokerage, event activities, advertising, and other innovative businesses through e-sports club business. As of the end of 2023, the net revenue from the operation, talent brokerage, and event activities of Star Sports Weiwu Group's esports club accounted for 25.9%, 62.9%, and 11.2% respectively, ensuring sustainable profitability through diversified sources of income. In addition, Xingjing Weiwu is actively exploring opportunities in the fields of esports education and training, community marketing, esports complexes, and IP licensing.
He Youjun stated that in the future, he will take the opportunity of going public to create the world's most popular and valuable digital sports group, bringing the ultimate competitive experience to esports enthusiasts worldwide and creating greater value for global investors.
In recent years, the esports industry has started to develop rapidly. In 2023, esports made its debut as an official competition event at the Hangzhou Asian Games. On July 23 this year, the International Olympic Committee officially passed a proposal at its 142nd session in Paris, France, to host the first Olympic Esports Games in Saudi Arabia in 2025.
According to the "Report on China's Electronic Sports Industry from January to June 2024", the actual sales revenue of China's electronic sports industry from January to June this year was 12.027 billion yuan, a year-on-year increase of 4.43%, and the number of electronic sports users in China was about 490 million, a year-on-year increase of 0.52%.