稻草熊(02125.HK)上市首日一度漲超93% 將繼續與網絡視頻平台深化合作釋放潛力
1月15日，著名影星吳奇隆創辦的稻草熊娛樂集團(下稱稻草熊娛樂)在港交所主板掛牌上市，聯席保薦人為招商證券國際、中信建投國際。本次上市，稻草熊娛樂擬發行1.65億股，每股發行價5.88港元，位於招股區間的中高端。當日開盤價7港元，相比定價大漲近20%，開盤市值約在46億港元左右，盤中一度漲超93%。
稻草熊娛樂的基石投資人名單也已披露，雪湖資本、IDG資本以及唯品會均在其列，其中，唯品會首次作為IPO基石投資人。根據協議，三者投資合共5000萬美元，雪湖資本認購3500萬美元，IDG認購1000萬美元，唯品會認購500萬美元。
受去年新冠疫情影響，影視行業經歷了不短的苦寒時期。有觀點認為，從影視市場及融資環境看，影視公司IPO難度比前幾年更大。稻草熊作為港股影視板塊開年第一股，無疑對行業來説是一種利好信號，為市場和資本重振信心。
根據招股書介紹，稻草熊娛樂其中一向業務營收是向電視台、網絡視頻平台或第三方發行商許可自制劇集播映權，該業務為稻草熊娛樂的最大營收來源。稻草熊曾在業內率先推出了自制劇集“先網後台”的播映模式。2015年，其自制劇《蜀山戰紀之劍俠傳奇》首先於愛奇藝上映，之後衞視；此外，稻草熊先後在《新白髮魔女傳》和《蜀山戰紀》嘗試“影遊聯動”模式，圈粉不少，影視IP價值也得到更大釋放。近年來，稻草熊營業的收入水平也呈現穩定增長的態勢。根據招股書，2017年至2019年，稻草熊娛樂的營收分別為5.43億元、6.79億元和7.65億元，經調整淨利潤略有波動，分別為8560萬元、7495萬元和6539.6萬元。2020年上半年，儘管受到新冠疫情影響，稻草熊娛樂依然實現收入5.8億元，淨利潤為5413萬元，同比增長43%。
本次上市，是稻草熊娛樂業務模式和生長潛力受到資本市場認可的最好體現。未來，稻草熊娛樂還將繼續發揮自身優勢，並與愛奇藝等網絡視頻平台繼續深化合作。隨着影視行業景氣度的持續復甦，內容、平台齊抓的稻草熊娛樂，未來增長空間也值得期待。
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