Haoxi Technology Ltd. is the holding company of a Beijing-based subsidiary, Haoxi Beijing, which provides short video ads, primarily to healthcare companies, in China. (Incorporated in the Cayman Islands)
The operating entity is an online marketing solution provider in China, with an advertiser client base mainly in the healthcare industry. The growth of the operating entity in recent years has benefited from the quick increase of news feed ads, its major form of ad placement, in the industry of online marketing in China. In addition, the healthcare industry in China has developed rapidly because of the growth of average income and the aging population, which provides a conducive environment for the development of the operating entity’s business. The operating entity has a management team with several years of experience in marketing for healthcare companies. Its own data analysis software, “Bidding Compass,” has helped it obtain ad placement data. Moreover, it has developed a stable placement with mainstream online advertising platforms in China and has been working closely with them since its establishment in 2018.
The operating entity mainly generates its revenue by providing one-stop online marketing solutions, in particular online short video marketing solutions, to advertisers through its media partners. The operating entity provides customized marketing solutions by planning, producing, placing, and optimizing online ads, especially online short video ads, to help its advertisers acquire, convert, and retain ultimate consumers on various online media platforms. The operating entity has served approximately 2,000 advertisers since its incorporation in 2018, the majority of which are healthcare companies. During the six months ended December 31, 2022, and 2021, it served 183 and 163 advertiser customers. During the fiscal years ended June 30, 2022, and 2021, it served 243 and 242 advertiser customers, respectively, of which 128 and 155 were healthcare companies, respectively. The operating entity primarily places its ads through mainstream online short video platforms and social media platforms in China, such as Toutiao (今日头条), Douyin (抖音), WeChat (微信), and Sina Weibo (新浪微博). The operating entity is dedicated to reducing costs and increasing efficiency for its advertisers and offering them easy online marketing solutions.
*Note: Revenue and net income are for the 12 months that ended Dec. 31, 2022.
*Background: Haoxi Technology’s fiscal year ends on June 30.
(Haoxi Technology filed its F-1 dated Aug. 25, 2023, and disclosed terms for its IPO: 3.0 million Class A ordinary shares at a price range of $4.00 to $5.00 to raise $13.5 million. The company submitted confidential IPO documents to the SEC on Feb. 14, 2023.)