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Netease cloud music declined to comment on the rumor that it would seek a listing hearing as soon as this week

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July 26, 2021
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    On July 26, the Hong Kong Economic Daily reported that Netease cloud village would seek a listing hearing as soon as this week, raising about HK $7.8 billion (US $1 billion). The co sponsors are Merrill Lynch, CICC and Credit Suisse. Netease cloud music submitted its application for listing on the main board at the Hong Kong Stock Exchange at the end of May,
    Netease cloud music declined to comment.
    On May 26, Netease cloud music officially submitted its prospectus to the Hong Kong stock exchange. Previously, the interface news had exclusively reported the IPO of Netease cloud music in Hong Kong. The interface news reporter learned that Netease cloud music will sell 21320000 shares worldwide, accounting for 10% of its total share capital. Among them, 2132000 shares were issued in Hong Kong and the remaining 19188000 shares were issued internationally. The sponsors are CICC, Bank of America and Credit Suisse. Its maximum offering price is set at HK $330 and it is planned to raise HK $7036 million.
    According to the prospectus submitted by Netease cloud music to the Hong Kong stock exchange, its revenue in 2020 was 4.9 billion yuan, its online music service Mau (monthly living) was 181 million, and its online music paying users were 16 million, with a payment rate of 8.8%.
    From 2018 to 2020, the losses of Netease cloud music continued to expand, and the high copyright fees were the main reason for the losses. Netease cloud music is the only rival of Tencent music in the online music market. In terms of revenue capacity, Netease cloud music is very different from Tencent music.

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