U.S. Stock Market News | He Youjun's wealth soared, China's leading e-sports company NIP surged nearly 60%
On Monday, the stock price of the new stock NIP Group surged. As of the time of writing, the stock rose by nearly 60%, reaching $14.42. NIP Group, a subsidiary of the son of the gambling king, Ho Yau Kwan, is an esports company. It started trading on Nasdaq last Friday at an offering price of $9 per ADS. The successful listing of NIP Group also signifies the official birth of the first Chinese esports stock. Chairman and Co-CEO Ho Yau Kwan set a record by becoming the youngest Asian founder of a Nasdaq-listed company. He stated that in the future, leveraging this listing opportunity, he will strive to build the world's most popular and valuable digital sports group, providing the ultimate competitive experience for global esports enthusiasts and creating greater value for global investors. Ho Yau Kwan holds a 14.2% stake in NIP Group, making him the largest shareholder of the group. NIP Group's revenue in 2023 was $83.67 million, a 27% increase from last year's $65.80 million; gross profit was $7.20 million, compared to $3.74 million in the same period last year, indicating a steady increase in the group's overall gross profit margin and the gross profit margin of its main business segments
According to the financial news app Zhitong Finance, on Monday, the stock price of the emerging stock NIP Group (NIPG.US) surged, with the stock rising nearly 60% to $14.42 as of the time of publication. NIP Group, owned by the son of the gambling king, Ho Yau Kwan, is an esports company that started trading on Nasdaq last Friday at an offering price of $9 per ADS.
The successful listing of NIP Group also signifies the official birth of the first Chinese esports stock. Chairman and Co-CEO Ho Yau Kwan set a record by becoming the youngest founder of a Nasdaq-listed company in Asia. He stated that in the future, leveraging this listing opportunity, he will strive to build the world's most popular and valuable digital sports group, providing the ultimate competitive experience for esports enthusiasts worldwide and creating greater value for global investors. Ho Yau Kwan holds a 14.2% stake in NIP Group, making him the largest shareholder of the group.
NIP Group's revenue in 2023 was $83.67 million, a 27% increase compared to last year's $65.80 million; gross profit was $7.20 million, up from $3.74 million in the same period last year, indicating a steady increase in the group's overall gross profit margin and the gross profit margin of its main business segments