Original title: NetEase Cloud Music heard through the Hong Kong Stock Exchange: Q1 revenue 1.5 billion yuan online music payment rate 13.3% [TechWeb]News on August 1, according to the official website of the Hong Kong Stock Exchange, NetEase Cloud Music has passed the listing hearing and uploaded the post-hearing data set. The listing co-sponsors are Merrill Lynch, CICC and Credit Suisse. According to the latest data from the data collection, NetEase Cloud Music’s total revenue for Q1 in 2021 was 1.5 billion yuan, an increase of 74.6% year-on-year; the gross loss rate was significantly narrowed from 26.8% in Q1 in 2020 to 3.6%; Q1 monthly active users reached 183 million ; The number of paid online music users was 24.29 million, a year-on-year increase of 91.5%; the online music payment rate was 13.3%. The loss rate narrowed to 3.6% According to the hearing data, NetEase Cloud Music’s Q1 revenue in 2021 was 1.5 billion yuan, a year-on-year increase of 74.6%. Among them, the income of the online music sector increased from 500 million yuan in Q1 of 2020 to 800 million yuan, and the income of social entertainment and other sectors increased from 400 million yuan in Q1 of 2020 to 700 million yuan. From 2018 to 2020, NetEase Cloud Music’s annual revenue was 1.1 billion yuan, 2.3 billion yuan, and 4.9 billion yuan, doubling for two consecutive years. NetEase Cloud Music’s online music sector maintained high growth. In 2021, the MAU of Q1 increased from 170 million in the same period last year to 183 million; the number of paying online music users increased from 12.68 million in the same period last year to 24.29 million, a year-on-year increase of 91.5%; the online music payment rate increased rapidly from 8.8% in the whole of last year To 13.3% of Q1. Thanks to the development of the live broadcast business, the social entertainment section of NetEase Cloud Music has grown significantly. NetEase Cloud Music launched its live broadcast service in 2018. As of 2020, its social entertainment service MAU has reached approximately 19.4 million. The number of paying users in Q1 of 2021 reached 438,100, a year-on-year increase of 69.5%; the monthly ARPPU of social entertainment services was 553.3 yuan, a year-on-year growth rate of 21.9%. Hearing data showed that NetEase Cloud Music’s Q1 loss significantly narrowed, mainly due to the expansion of business operations and cost control. NetEase Cloud Music Q1 adjusted net loss narrowed to 300 million yuan from 500 million yuan in the same period last year; gross loss rate narrowed significantly to 3.6% from 26.8% in the same period last year. From a year-to-year perspective, NetEase Cloud Music’s net loss has also decreased year by year. From 2018 to 2020, the adjusted net loss will be 1.8 billion yuan, 1.6 billion yuan and 1.6 billion yuan, respectively. As of Q1 of 2021, the total number of playlists created by NetEase Cloud Music users exceeds 2.6 billion, and monthly active users who actively create UGC account for about 26%. The average daily listening time of daily music listeners is 76.5 minutes, which is an increase from 2020. . As of the first quarter of this year, the number of independent musicians in NetEase Cloud Music has exceeded 260,000. According to a CIC report, there are about 400,000 independent musicians on China’s online music platform, and it is expected to reach about 800,000 in 2025. The influence of original music will continue to increase rapidly. NetEase is the controlling shareholder After the hearing, the data collection announced the fundraising purpose of NetEase Cloud Music. This fundraising is mainly used to continue to cultivate the music community, enrich diversified music content, continue to innovate and improve technical capabilities; and to select mergers, acquisitions and strategic investments, operations and general corporate purposes. According to the company’s information, NetEase Cloud Music was established in 2016 and has completed multiple rounds of financing so far. Shareholders include Alibaba, Yunfeng Fund, Baidu, Boyu Capital, Pan Atlantic Capital, Mango Cultural and Creative, SMG, etc. NetEase Cloud Music also disclosed in detail its previous financing information. The data set shows that the company has conducted four rounds of financing, with financing amounts of US$132 million, US$150 million, US$476 million and US$702 million. This is consistent with the information previously officially promoted. Earlier, NetEase Cloud Music officially announced the A round of 750 million yuan in financing, the B round of over 600 million US dollars in financing, and the B2 round of 700 million US dollars in financing. According to the prospectus, in the pre-IPO shareholder structure of NetEase Cloud Music, the controlling shareholder NetEase holds 62.46% of the shares. Other shareholders include: Alibaba’s Taobao China holds 10.81%; Yunfeng Fund holds its shares through its Novel Entertainment The shares are 5.41%; Baidu holds 4.26%. .