Superstar Legend, also known as the “Jay Chou concept stock,” made its debut on the Hong Kong stock market on July 13. The company saw significant success on its first day of trading, with its stock soaring nearly 50% during intraday trading and closing up nearly 24%. It currently holds a market value of approximately 4.2 billion Hong Kong dollars.
The listing ceremony was attended by several celebrities, including Jay Chou, Liu Genghong, Fang Wenshan, and Chen Farong, who appeared in congratulatory videos. Ma Xinting, the chairman of the company’s board of directors, expressed that Superstar Legend will focus on new retail and intellectual property creation and operation, as well as the deployment of live broadcasting and e-commerce businesses in the future.
The stock price of Superstar Legend was notably strong on its first day of trading. It opened at 5.75 Hong Kong dollars, a 35.29% increase from the offering price, and reached a high of 6.3 Hong Kong dollars, representing a more than 48% increase. It eventually closed at 5.26 Hong Kong dollars, up 23.76%. The company raised 538 million Hong Kong dollars through its IPO, and with the use of the over-allotment option, it could raise additional funds of approximately 80.733 million Hong Kong dollars.
Two cornerstone investors, Blink Field and NetDragon, participated in the subscription of Superstar Legend’s IPO, with Blink Field subscribing for US$15 million and NetDragon subscribing for US$3 million. The funds raised from the IPO will be used for various purposes, such as increasing the company’s brand awareness, promoting product sales, creating star intellectual property, and operating related content.
Superstar Legend, established in 2017, operates in two main sectors: new retail business and IP creation and operation. Its main products include health management products, skin care products, and planning services for star concerts and events. The company aims to reduce its dependence on any specific star and enhance its overall IP empowerment ability.
Notably, Superstar Legend has a close connection with Jay Chou. The company has been involved in the planning of Jay Chou’s concerts and events and owns Jay Chou’s two-dimensional character image trademark. Fang Wenshan, known as Jay Chou’s “queen lyricist” and good friend, serves as the company’s chief cultural officer.
Although Superstar Legend revolves around star IP, its main source of income comes from new retail, particularly the sales of its low-carbon health management product, Motu Coffee. The company has launched various other low-carbohydrate drinks and foods under the Motunzi brand, as well as skincare products under its sub-brands like Dr. Moji and Miss Cha. Motu Coffee is endorsed by Jay Chou himself and has gained significant market share in China’s bulletproof beverage industry.
Despite the success of its new retail business, the sales revenue of Motu Coffee has experienced a decline in recent years. The company aims to address this by expanding its product offerings and increasing brand awareness through advertisements in Jay Chou’s concerts and variety shows.
Overall, the successful debut of Superstar Legend on the Hong Kong stock market, coupled with its deep ties to Jay Chou and its focus on new retail and IP creation, positions the company for further growth and success in the future.