Thursday, February 06, 2020 7:50:11 PM
Our Business
General
Our current primary business is in the online dating industry, which we believe fulfills significant needs for single adults looking to meet a companion. Traditional methods such as printed personals advertisements, offline dating services and public gathering places often do not meet the needs of single people. Printed personals advertisements offer individuals limited personal information and interaction before meeting. Offline dating services are time-consuming, expensive and offer a smaller number of potential partners. Public gathering places such as restaurants, bars and other social venues provide a limited opportunity to learn about others prior to an in-person meeting. In contrast, online personals services facilitate interaction between singles by allowing them to screen and communicate with a large number of potential companions before they meet in-person. With features such as detailed personal profiles, email, mobile chat and instant messaging, this medium allows users to communicate with other singles at their convenience and affords them the ability to meet multiple people in an anonymous, convenient and secure setting.
The online personals industry in China has experienced significant growth in recent years. According to 2018 China’s Online Dating & Matchmaking Report, the revenue of China’s online dating & matchmaking sector reached approximately 712 million USD in 2016, accounting for 49.1% of the total revenue of dating & matchmaking market. It is expected that the proportion will expand to 63.1% by 2021. Members of the millennial generation (individuals under 35 years old) tend to have the highest usage of online or mobile personals sites because of the large gender imbalance caused by one-child policy launched by Chinese government back in 1980. (source: https://www.iresearch.com.cn/Detail/report?id=3339&isfree=0)
Another focus of our business is mobile gaming. According to the 2018 China Mobile Game Industry Research Report, in March 2018, the Chinese government suspended the approval of game numbers, which is a part of the approval document of the State Administration of Press, Publication, Radio, Film and Television agreeing to the relevant game publishing and online operation. Such approval of game numbers reopened in December 2018, resulting in a significant decrease in the number of new games in the Chinese game market. The proportion of the Chinses game market in the global market has fallen for the first time in the following six years, from 33% in 2017 to 27% in 2018. However, the Chinese mobile game market still maintains an upward trend in 2018, with market size of RMB 164.6 billion, an increase of 10.5% over 2017. In 2018, the number of Chinses mobile gamers was 626 million, an increase of 2.7% as compared to that in 2017. The Chinese mobile game market officially entered the era of inventory from the incremental era. In the future, the Chinese mobile game market will continue to strengthen the game operations to enhance users’ gaming experience. (source:https://www.iresearch.com.cn/Detail/report?id=3405&isfree=0)
Recent KPEA News
- Form SC 13D - General statement of acquisition of beneficial ownership • Edgar (US Regulatory) • 06/10/2024 09:25:31 PM
- Form SC 13D/A - General statement of acquisition of beneficial ownership: [Amend] • Edgar (US Regulatory) • 06/10/2024 09:24:50 PM
- Form SC 13D - General statement of acquisition of beneficial ownership • Edgar (US Regulatory) • 06/10/2024 09:22:14 PM
- Form SC 13D/A - General statement of acquisition of beneficial ownership: [Amend] • Edgar (US Regulatory) • 06/10/2024 09:20:55 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/15/2024 04:43:09 PM
- Form SC 13D - General statement of acquisition of beneficial ownership • Edgar (US Regulatory) • 05/07/2024 10:01:42 AM
- Form SC 13D - General statement of acquisition of beneficial ownership • Edgar (US Regulatory) • 05/07/2024 10:01:40 AM
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