"New Stocks" AI social platform Soul submits listing application again, Tencent holds nearly 50% stake

Soulgate Inc., which operates the AI+ immersive social platform Soul, has submitted a main board listing application to the Stock Exchange, with CITIC Securities as the exclusive sponsor.

As of the end of August this year, Soul has accumulated nearly 389 million registered users over the past eight months, with an average of 11 million daily active users, among which 4.6 million daily active users utilize the AI Boosters feature. The AI-driven emotional value services, including virtual goods and membership privileges, are the main source of revenue for the platform, contributing over 90% in the first eight months of this year, with an average revenue per paying user (ARPPU) of RMB 104.4. In the first eight months of this year, the company recorded revenue of RMB 1.683 billion, a year-on-year increase of 17.8%, with a loss of approximately RMB 36.108 million during the period, significantly narrowing from a loss of RMB 161 million in the same period last year by nearly 77.6%.

Tencent (00700.HK) invested in Soulgate through its subsidiary Imaginary Architecture in May 2020, holding 49.9% of the shares before the listing. The company stated that Tencent is a strategic investor and has not participated in daily management or business operations; other investors include miHoYo, Genesis Capital, and Wuyuan Capital