Recently, the well-known singer Jay Chou's conceptual stock "Superstar Legend" submitted an application for listing on the main board of the Hong Kong Stock Exchange (00388.HK), and the capital raised from the listing will mainly be used for the research and development of new products, increasing brand exposure and product sales, and the creation of an exclusive star IP and related IP content, sales and marketing, etc.

The prospectus shows that the company was founded in 2017, and it is the first time that the company has been listed on the Hong Kong Stock Exchange.

The prospectus shows that the Star Legend was founded in 2017, at the beginning of the establishment, the Star Legend is Jay Chou's "Strongest on the Ground" concert subcontractor, upgraded to a concert planning services provider in 2019, for Jay Chou's music career "saddle up". In addition, Superstar Legend owns the creator of Jay's reality TV show Journey of the Week and its IP, as well as a 10-year IP license agreement with Jay's talent agency, Jewel Music, which gives it priority rights to carry out projects related to Jay and his IP.

In terms of financials, Superstar Legend's revenue for 2018, 2019, and 2020 is $94.68 million, $86.58 million, and $457 million, respectively. revenue in the first half of 2021 was $166 million, down 46.8% from $312 million in the same period a year earlier.

The company's profit for the period was $8.8 million, $22.7 million and $75.6 million in 2018, 2019 and 2020, respectively, and by the first half of 2021, Superstar Legend's profit for the period was $8.29 million, a decrease of 87.4% from $65.8 million in the same period of the previous year.

Currently, Superstar Legend has two main businesses: one, earning money on event planning and IP programs, related licensing fees and the sale of cultural and creative products; and two, selling bulletproof coffee, skincare and other products (mainly through social e-commerce channels such as WeChat).

In 2018, as a concert subcontractor Superstar Legend's gross margin was only 4.5%. in 2019, upgraded to a concert planning service provider the gross margin rose to over 20%. Gross margins remain low and largely unprofitable, with Superstar Legends' main revenue still coming from selling coffee.

As of the end of 2019, the end of 2020, and the first half of 2021, Magic Carcass Bulletproof Coffee sales accounted for 83%, 72.8%, and 72.4% of total revenues, respectively, and there has been a decrease in recent years.2020, according to Scorch Consulting, Superstar Legend is the largest company in the bulletproof beverage market in China. The market share is 40.6%.

Magic carcass bulletproof coffee hot, the most direct factor is the rise of the "ketogenic diet", ketogenic diet is a high-fat, moderate protein, low-carbohydrate diet, through the adjustment of dietary structure, so that the body's metabolism changes, from the sugar metabolism to the metabolism of fat burning. The Magic Carcass Bulletproof Coffee is a low-carb weight management drink, and by adding fats such as coconut oil and grass-fed butter to the coffee, the fat replaces the carbohydrates as the energy source, allowing the body to enter a state of ketosis.

The magic carcass bulletproof coffee sales growth behind can not be separated from the "Jay's personal IP" influence, the magic carcass bulletproof coffee ads not only appeared in the Jay's concert site, and gifts, but also implanted in a variety of forms of Jay's 2020 new variety show "ZhouYouYi" in the eyes of the fans of the formation of strong exposure. .

In 2020, Superstar Legend sold more than 2 million boxes of Bulletproof Coffee.

In addition to the proper use of the fan economy, the magic carcass bulletproof coffee also hides an important pusher - micro-merchants, has been on the U.S. Times Square billboards "micro-merchants Queen" Li Ting, is an important contributor.2019 By 2020, the total number of dealers and distributors of the magic carcass bulletproof coffee from more than 3,000 to more than 17,000, most of them to a Li Ting's "Kunshan Ting luxury" as a general distributor to purchase goods.

Jumbo Star Legend's prospectus even has a paragraph dedicated to her: "Since 2015, she has been distributing products through social networks. Prior to that, she has been engaged in the distribution and sale of apparel products for more than 10 years, and through such experience, she has built up her own network of distributors and gained experience in the distribution business."

After 2000, Jay Chou almost single-handedly suppressed the spread of the Korean and Japanese streams in China. Now that the Chinese music scene has moved from traditional recordings into the digital music era, and the times are pushing musicians to iterate rapidly, Jay is still standing, and has been firmly in first place on the streaming hit list for Chinese male singers.

In music, Jay Chou's commercial value is indisputable, in 2019, a "say goodbye to crying" online less than two hours total sales exceeded 10 million, becoming the QQ music platform history of the highest sales of digital singles, which directly led to Tencent Music's quarterly digital album revenue doubled year-on-year, and the market even appeared to be "relying on a person, The first thing you need to do is to get your hands on a new one, and you'll be able to do it on your own.

2020, Jay Chou's new song "Mojito" on the line let the major music platform paralyzed, online only one day, the new song soared to the top of the charts, sold more than 3 million copies, over 40 years old Jay Chou, still maintains a stunning influence.

"Fan economy" cash channels are diverse, in addition to the idol carrying the direct consumer behavior, basic consumption, including the purchase of albums, singles, watching movies, pay to watch online videos, etc., derived from the consumption of support for the obvious commodity endorsement, the purchase of magazines, newspapers, celebrities with the same type of clothing, and so on.

Since being on the Forbes China list, Jay has basically not fallen out of the Forbes China celebrity list, and Jay has basically not participated in any programs in the past few years, the exposure rate is not high, and if he relies solely on his singing career to absorb the money, this level of income is far from enough. He once joked to fans at a concert, "I wrote 12 songs, just listen to them, you can not have to buy, because I am not relying on this to earn money."

Today, as IP influence continues to be commercialized, Jay's commercial value is not only reflected in his main business as an artist releasing albums, opening concerts, and making endorsements, but he has also been very successful in commercial IP development. In addition to continuing to use his ip influence to rake in the money, Jay Chou is also very good at realizing the IP of the works he created.

In 2006, Jay entered the restaurant industry, opened an Italian restaurant, named "mr.j Yifa Kitchen", then the movie "can not say the secret" in the school uniforms worn by himself and Gui Lun-mei to use as a uniform, and in the restaurant to restore Jay and Gui Lun-mei in the movie ** ** play the grand piano. ** the grand piano that played in the movie.

In 2012, he opened his new restaurant in the Taipei Normal University shopping district and named it after the "Fujiwara Tofu Shop" that he opened in his movie debut, "Head of D."

In 2019, he opened his own restaurant, "Fujiwara Tofu Shop" in the Taipei Normal University shopping district.

2019 in the milk tea track is hot, love drinking milk tea Jay Chou also quickly layout, founded a tea drink brand magic Jie's tea, magic Jie's tea stores are full of Jay Chou elements: the main color of the decoration is Jay Chou's own love of pink, the wall pasted with a cartoon image of Jay Chou's classmates, the store loop play Jay Chou's songs, even the milk cover with a 3D hit with Jay Chou's avatar. These stores have also become a pilgrimage site for many Jay Chou fans.

In addition to this, Jay Chou used his movies, songs and personal ideas as the core concept to create his own hip store PHANTACi; together with Yu Hao of South Fist Mama, he created a new piano brand Secret, and the products for sale include pianos of his own design; at the end of 2016, Jay Chou and Fong Wenshan joined Aishang Media as the strongest creative consultant and chief cultural officer, respectively, and put together a "Dandelion Promise", "Aishang Media", "Aishang Media", "Aishang Media", "Aishang Media" and "Aishang Media". Dandelion's Promise", "Love Before the Western Era", "Say goodbye to happiness", "Three Years and Two Classes" and other ten classic music IP film and television adaptation rights awarded to Aishang Media, for the filming of online dramas or movies, to complete the music IP film and television plan; Jay Zhou also established Magic Jie e-sports in 2017 in cooperation with IDG .......

Jay Chou has long been the commercial matrix spread over the gaming, catering, clothing and other areas, in addition to the identity of the star is also a successful "businessman".

Shareholding structure, Jay Chou does not directly hold the shares of Superstar Legends, but Jay Chou's mother, Ye Huimei, is regarded as the company's controlling owner of the concerted action, Ye Huimei and Jay Chou's artist agency director Yang Junrong, each holding 50% of Legend Key, holding 27.63% of the shares of Superstar Legends before the listing of the group is considered to be the concerted action of the controlling owner of the group. The Controlling Shareholder Group, which is considered to be a concerted party, holds a total of 64.47% equity interest.

Fong, a lyricist who has worked with Jay Chou for many years, has become the Chief Cultural Officer of Legendary Superstar, and the company said it is exploring the creation of an exclusive star IP centered on Fong.

Jay Chou once said about his business investment path, "I make all my investments after discussing them with my mom, and actually my mom's investment philosophy is better than mine. She still wants me to do and music-related investment, like piano, KTV and music have a lot to do, the focus of the future investment is also in line with my identity, but also in line with the laws of business, the most important point is that there can not be a lack of art."

I think Jay was able to seize the wind of the fan economy, and successfully make the ip derivative value from paper to real money, but also can not be separated from Ye Huimei's unique vision.