PANDAILY – Soulgate, the developer of the social media app Soul, has submitted another listing application to the Hong Kong Stock Exchange. The company initially planned an IPO in the USA but abandoned this plan in June 2022. According to the prospectus, Soulgate achieved operating revenues of 498M yuan ($72M), 1.281B yuan ($185M) and 1.667B yuan ($241M), respectively from 2020-2022, while experiencing losses of 579M yuan ($84M), 1.3B yuan ($188M) and 508M yuan ($73M) during the same period. Soul is China's first social networking platform where all users interact through virtual identities, with ~30M monthly active users and ~9.6M daily active users.
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