Tian Yuan assisted Keep Inc. ("Keep", Stock Code: 3650.HK), the first sports tech company to be listed in Hong Kong and a leading enterprise in sports and fitness technology in China, completed its IPO and listing on the Main Board of the Hong Kong Stock Exchange (HKEX) on July 12, 2023. It was trading at HK$29.4 per share at 9:50 a.m., with a market capitalization of approximately HK$15.5 billion.
Founded in 2014, Keep launched the Keep mobile app (online fitness platform) with proprietary structured fitness courses in 2015. Keep is China's largest fitness platform in terms of MAUs and the number of workout sessions completed by users in 2022. Based on its online fitness content and membership subscription program in the app, Keep has developed a huge fitness user base (3.621 million subscribing members per month in 2022), and launched smart fitness devices and complementary fitness products, including smart bikes, wristbands, yoga mats, dumbbells, meal replacements and fitness snacks.
As an influential brand and ever-growing platform committed to providing users with comprehensive fitness solutions, Keep has become synonymous with passion for fitness, and its brand spirit of "Freedom as Autonomy" has made its way into the hearts of numberless Keep users.
As the Chinese legal advisor to the exclusive sponsor CICC, Tian Yuan provided professional and efficient legal services throughout the Hong Kong listing of Keep, and assisted the company to successfully complete the listing amid the release of the new regulations on overseas listing, thus being highly recognized by all the parties involved for its solid preparation, efficient execution and effective communication and collaboration.
- Capital Markets & Securities