Invest 45 million in Kaitian Studio, a trendy brand! Aofei Entertainment deepens the layout of the trendy play field

On June 7th, according to the company's APP, Kaitian Studio, an original trendy play brand, completed equity financing. The investment institutions were Fujian Aoji Enterprise Management Partnership (Limited Partnership) and Aofei Entertainment, with a financing amount of 60 million yuan. According to the company’s information, Kaitian Studio is affiliated to Shanghai Kiku Network Technology Co., Ltd., which was established in 2014 and its legal representative is Yu Guanglai. Its business scope includes: advertising design, production, agency, corporate management consulting, and professional Design services, industrial design services, Internet sales (except for the sale of commodities that require a license), etc. At the same time, Aofei Entertainment (002292.SZ) issued an announcement that the nineteenth meeting of the fifth board of directors held on June 7, 2021 reviewed and passed the 'Proposal on Joint Investment and Related Transactions with Related Parties' and agreed The company and Fujian Aoji Enterprise Management Partnership (Limited Partnership) (referred to as Fujian Aoji) subscribed for a total of RMB 60 million for Shanghai Qicoo Network Technology Co., Ltd. (referred to as Shanghai Qico or the target company) to increase the registered capital of RMB 1.646091 million. Occupies 12.9032% of the equity of the target company. Among them, Aofei Entertainment subscribed for Shanghai Qicoo’s newly-increased registered capital of RMB 1,234,568 for RMB 45 million, accounting for 9.6774% of the equity of the target company; Fujian Aoki subscribed for Shanghai Qicoo’s newly-increased registered capital of RMB 411,523 million for RMB 15 million, accounting for the target’s The company has 3.2258% equity. It is reported that the main operating brand of Shanghai Qiku is Kaitian Studio. In the first quarter of 2021, Kaitian Studio's revenue was 21.813 million yuan, and the net profit was 4.769 million. This round of financing was 60 million yuan, and the pre-investment valuation was 405 million yuan. According to the announcement, Shanghai Qicoo has strong strength in the domestic trendy play sub-industry, and it has been recognized by the market and users in terms of brand positioning, product research and development capabilities, project reserves and commercialization potential of China's original model play. It is worth noting that the operation of Kaitian Studio is Yu Guanglai, who has created a milestone product in Chinese web games, with a cumulative turnover of over 1 billion. He has more than 10 years of experience in the Internet game industry, and is also a 20-year veteran model player. In addition, its brand, Kaitian Studio, aims to build a world-class Chinese statue brand. The company has obtained many world-renowned IP authorizations such as Bruce Lee, Evangelion, Naruto, Dragon Ball, Justice League, etc., and developed a collection-level model around it. Play with statue products. At the same time, Kaitian's works are rich in themes, covering the original Kaitian Three Kingdoms and Five Tigers series, Xiaoya Ji, Morning Girl, Lirenxing, National Treasure Menghua and other artist series. In 2019, Kaitian Studio, together with the National Library and Li Ning, launched the child mouse of the full-length portrait of the twelve beast heads, and started the restoration plan of the twelve beast heads. From the perspective of industry development, in recent years, the global trendy play market has maintained a relatively high growth rate. According to Frost u0026 Sullivan data, the global trendy play market has increased to US$19.8 billion in 2019, and is expected to reach US$41.8 billion in 2024 at a compound growth rate of 16.1%. Compared with the global market, China's trendy play market is growing faster. Frost u0026 Sullivan expects that from 2019 to 2024, the scale of China's trendy play market will increase to 76.3 billion yuan at a compound growth rate of 29.8%. In addition, Chaowan's financing activities have been frequent recently. In addition to Aofei Entertainment, the search for unicorns has also completed the shareholding of Sequoia Capital. At the same time, Internet giants Tencent, Youku, and Netease have accelerated their entry. It is foreseeable that the competition in the tide game industry will become More intense.