| Business: |
NeoTV is a holding company incorporated in Cayman Islands with no material operations of its own. It conducts all its main business operations in China through the VIE that provides events operating, participating and content production for E-sports customers and specializes in hosting, operating, and promoting E-sports competitions and professional events in China. We serve as the gateway for fans to connect with E-sports teams, athletes, influencers, broadcasters, brands, and sponsors anytime and anywhere. Investors in this Offering are not purchasing equity securities of our PRC subsidiary or the VIE. Instead, they are purchasing equity securities of a Cayman Islands holding company.
Our vision is to transform the E-sports performance and customers’ viewing experience into the future of sports entertainment using cutting-edge technologies in events planning, operating and management, and broadcasting through promotional events and live streaming. We have successfully developed an E-sports ecosystem comprised of highly engaged game developers, talented content creators, and active commercialize products consumers, all of whom form a young vibrant E-sports community. Through years of intensive study, our research and development team has mastered cutting-edge technology in the fields of event management, remote cloud live-streaming, IP-Based management, HD Video encoding technology, matrix audio solutions, independently developed event cloud data center, online CG packaging systems, true three-Dimensional Virtual Studio and extended reality. On October 23, 2017, the VIE was recognized as a “High and New Technology Enterprise” (“HNTE”) in China, a China national reward granted only to qualified high-tech companies
We have hosted and organized many well-known games, both globally and domestically in China, including the National Electronic Sports Open, Tencent Global E-sports Arena, and certain professional events including League of Legends Wild Rift Professional League, Tencent League of Legends Allstar, Tencent Honor of Kings World Champion Cup, Tencent Peacekeeper Elite, NetEase Gold Club World Cup, and NetEase Onmyoji Arena Pro League. We received the “Special Contribution Award” for organizing the 2018 Asian Games (in Jakarta Palembang). We have been selected to host the qualifying E-sports competition “Road to Asia” (19th Asian Games – Hangzhou 2022) in Hangzhou, China, which will be held in 2023.
Our major customers include large industry leading E-sports game developers, sponsors, advertisers, and game live streaming companies. Our primary sources of revenue derive from providing integrated services relating to E-sports tournaments and variety shows
**Note: Revenue and net income figures are in U.S. dollars (converted from China’s Renminbi) for the 12 months that ended June 30, 2022.
(Note: Neotv Group. Ltd. filed an F-1/A dated March 14, 2023, and disclosed terms for its IPO: 6.8 million shares at a price range of $6.00 to $6.50 to raise $42.5 million. Neotv Group Ltd. filed its F-1 on Feb. 24, 2023.)
|
