Baby Bus IPO suspended: net profit of 133 million RMB after six months of expiration of financial information

2022-06-02 0 By

Ray pass network Jian-ping lei reported on April 4, the shenzhen stock exchange, according to the website on March 31, 2022, baby bus co., LTD for IPO application file records, the validity of financial information has been submitted to add, according to the shenzhen stock exchange gem stock offering audit rules “relevant provision, the shenzhen stock exchange to suspend its offering audit.Baby Bus plans to raise 1.848 billion yuan.Baby Bus raised 460 million yuan for animation product research and development, 449 million yuan for APP product research and development and upgrading project, 92.45 million yuan for children’s story research and development and upgrading project, 122 million yuan for the shell research and development project, 170 million yuan for the industrialization of derivatives and its supporting projects, 155 million yuan for the operation system upgrade project, 3.5One hundred million yuan for fuzhou RESEARCH and development Center project.The business of Baby Bus, with a net profit of 133 million RMB in half a year, focuses on the research and development, production and operation of children’s initiation audio and video products, APP and other products. Based on the Internet user resources brought by high-quality initiation products, the company mainly carries out cooperative promotion by connecting APP to advertising alliance customers (Baidu, Google, etc.).Revenue will be realized by licensing audio and video to the third party network audio and video media, obtaining authorization and sharing.After years of development, Baby Bus has created a number of IP images, including “Qiqi”, “Miao Miao”, “Super Baby JoJo”, “Monkey Sheriff” and so on, and formed the “Baby Bus” children’s enlightenment brand.According to the prospectus, the revenue of Baby Bus in 2018, 2019 and 2020 was 254 million yuan, 526 million yuan and 649 million yuan respectively.Net profit was 110 million yuan, 267 million yuan and 260 million yuan respectively.In 2018, 2019 and 2020, the government subsidies included in other income were 3.85 million, 4.32 million and 17.84 million respectively, accounting for 3.13%, 1.43% and 6.17% of the profits respectively.In the first half of 2021, Baby Bus reported revenue of 395 million yuan, net profit of 133 million yuan, and net profit after deduction of non-profits of 128 million yuan.In August 2021, baby Bus subsidiary Baby Bus Network was acquired by Moonbug Entertainment Limited and Treasure Studio, Inc.The lawsuit, filed in the United StatesDistrict Court Northern District of California, alleges that the Super JoJo image and related video intentionally infringed its intellectual property rights.Baby Bus said that the “Super JoJo” image and main works are independently created by the company, launched in 2019, and its image can be traced back to the 2D version of the character “Doudou” created by the company and launched in 2016.The company “SuperJoJo” from the skeleton, facial features are relatively delicate and small, is an Oriental little boy image, and the plaintiff “JJ” European and American style there is a big difference, and the image characteristics of the plaintiff is the common set of children’s cartoon image, before the plaintiff has appeared in large numbers.This lawsuit is still in the trial stage, the company has submitted a defense and counterclaim;If the lawsuit is lost, the publisher may no longer be able to use the “Super JoJo” image, and may face compensation to the plaintiff (the plaintiff has not proposed a specific amount of damages), which may have a certain adverse impact on the baby bus.Baby Bus used to have the VIE structure, with Shun Wei Capital holding 21.43% and Good Future Education holding 3%. However, since then, Baby Bus removed the VIE structure, and Shun Wei and Good Future withdrew from the list of shareholders.Before the IPO, Tang Guangyu, the actual controller of Baby Bus, indirectly controlled 46.78% of the company’s equity through Zhongyong Investment and Renyong Investment.Tang Guangyu is the chairman of the board and general manager of the company as well as the real controller of the company.Before IPO, Zhongyong investment holding 41.8652%, Mingqiang investment holding 18.4953%, Ruigu Jiyin holding 5.9171%, Tianjian Jiyin holding 5.0645%, Yiyong investment holding 4.9433%, Renyong investment holding 4.9151%;Wen Yong investment holdings of 4.757%, Liang Yong investment holdings of 4.5725%, BitAnet holdings of 4.5645%, Gong Yong investment holdings of 3.2973%.After the IPO, Baobi’s de facto controller, Tang Guangyu, will still control 42% of the company.——————————————— lei Di is founded by lei Jianping, a senior media person. If reprinted, please indicate the source.