China's two most well-known rich second generations are on the hot search.
One is the "illegitimate daughter" incident of Wang Sicong, the only son of Wanda Wang Jianlin, and the other is the e-sports company of the "gambling king" Stanley Ho and the third son of the fourth wife Liang Anqi, He Youjun, went public in the United States. If He Youjun and Wang Sicong are becoming more and more alike, it is because they have also entered the e-sports track, and they are both investment experts.
is constantly different from Wang Sicong's lace news, He Youjun, who is 7 years younger than Wang Sicong, has already married and had children as early as 2019. His wife is the well-known model Xi Mengyao, and He Youjun has two sons. There is almost no out-of-the-ordinary peach news in He Youjun, and he is a rich second generation with a relatively positive evaluation.
He Youjun has been a top student since he was a child, and he is an elite in mathematics, and has been invited to participate in the "World Mathematics Competition" many times, and won awards in the "World Mathematics Test" invitational competition for two consecutive years. He graduated from the Massachusetts Institute of Technology and currently serves as the president of the Macau E-sports Association, the CMO of iDreamSky, the founder of the V5 E-sports Club, the general manager of Shenzhen Weiwu E-sports Network Technology Co., Ltd., and the chairman of Xingjing Weiwu Group. Although Wang Sicong also graduated from the University of London, he admitted in a show that he was a "scumbag".
In December 2018, 23-year-old He Youjun founded the V5 E-sports Club in Shenzhen, which is also one of the predecessors of Xingjing Weiwu Group. Two years later, the V5 E-sports Club and the eStar E-sports Club completed the merger to form Wuhan Xingjing Weiwu Cultural and Sports Development Co., Ltd. In 2023, He Youjun promoted the merger of Xingjing Weiwu and Sweden's Ninjas in Pyjamas E-sports Club to officially establish Xingjing Weiwu Group. It took him six years to push an esports company into an IPO, which is more business-minded than Wang Sicong, who is also an esports player.
Wang Sicong and He Youjun are on the hot search with their own lace news, and the other is on the hot search with their own strength to operate an e-sports company to go public in the United States, they are also well-known rich second generations, Wang Sicong's traffic is much higher than He Youjun, but on the business map, He Youjun, a scholar who does not have lace news, may be one position ahead of Wang Sicong, and when Wang Sicong has to be sad for his lace news, He Youjun is about to ring the bell on the NASDAQ.
They are all investment masters
If Wang Sicong is a gentleman, he must be biased, after all, although Wang Sicong acts in a high-profile manner and has constant peach scandals, he is not without success.
On the list of "2017 China's Top Investors TOP50", Wang Sicong's name was among them, which shocked many netizens, because Wang Sicong is the youngest one in this list, Wang Sicong is only 29 years old this year, and it is still surprising to many people to be able to compare with the top investment bosses. Because this list refers to the investment level and vision and business negotiation skills, the only son of the former richest man Wang Jianlin does not add points to Wang Sicong, Wang Sicong can be on the list, which shows that in the investment field, this son-in-law who seems to be "hanging" still has his own advantages.
Wang Sicong, as the chairman of Pulse Capital, has 100% control over the company, according to the official website of Pulse Capital, the company has invested in more than 80 projects, with a cumulative investment of more than 1 billion US dollars, and exited more than 30 projects through IPOs, mergers and acquisitions, etc., including Meituan, Amethystum Storage, Lele Tea, Xiaoguo Culture, Arrail Dental, 360 and other well-known enterprises, from the perspective of Wang Sicong's investment territory, it involves many industries, among which the investment in OFO shared bicycles and "Wolf Warrior 2" has the largest returns, Judging from the current investment projects of Wang Sicong, it should be profitable, otherwise it will be difficult to be included in the list of investors.
Like He Youjun, Wang Sicong is also more obsessed with the e-sports industry, as early as 2011, Wang Sicong co-founded the game live broadcast platform "Panda TV" with Lin Gengxin and others, this year Wang Sicong is also 23 years old, and He Youjun is the same age as He Youjun founded the e-sports company. In 2018, when He Youjun first established an e-sports company, Wang Sicong's LG E-sports won the first championship of the S Series in team history at the League of Legends World Finals held in Incheon, South Korea. At that time, it was a sensation, and even official media such as the official Weibo of the Central Committee of the Communist Youth League, Ziguangge, People's Daily, and People's Daily also competed to report the happy event of IG winning the championship.
At the age of 23, He Youjun was known as an entrepreneur. When He Youjun was about to graduate from MIT, "go to the world's top financial company, or go back to help take care of the family business" became the only two choices in front of He Youjun. But He Youjun met Wang Qiang, the co-founder of Zhen Fund, and Wang Qiang's sentence "Your father is a very successful entrepreneur, you have entrepreneurial genes, why don't you start your own business?" He Youjun has become the "guide" of He Youjun's entrepreneurship.
Later, He Youjun recalled, "My father was a successful entrepreneur, and if I could succeed in starting a business, I would be in the same bracket (level) as my father." "After becoming the CMO of iDreamSky, iDreamSky, which was previously delisted from the NASDAQ, was successfully listed on the Hong Kong Stock Exchange in just 9 months, becoming the youngest bell ringer on the Hong Kong Stock Exchange. iDreamSky is the largest independent mobile game publishing platform in China, and iDreamSky is independently developed by iDreamSky, Temple Run, Subway Surfers, and Monument Valley. Gamers may not know He Youjun, but they may have played games developed by his company.
He Youjun's entrepreneurship did not rely on the family, and even rejected his mother's start-up capital, almost from scratch, and after 4 years of entrepreneurship alone, he made 600 million yuan, 600 million yuan is insignificant to the gambling king family with 100 billion assets, but it is definitely a manifestation of ability for a young man. In July 2023, 28-year-old He Youjun was selected as one of Fortune China's 40 business elites under 40 years old, and became the youngest on the list, although he only ranked 12th, he still became a leader among post-95 entrepreneurs. According to public information, his net worth exceeds 30 billion yuan.
It is worth mentioning that He Youjun's e-sports team, Wuhan estarpro, is the eight-time champion of Glory of Kings, commonly known as the Great Demon King team.
The first e-sports stock in China
According to CCTV News, Xingjing Weiwu Group recently publicly submitted a form, and NIP Group Inc. (hereinafter referred to as "Xingjing Weiwu"), of which He Youjun is the chairman and CEO, sprinted to the NASDAQ. Once Xingjing Weiwu Group is successfully listed, it will become the first e-sports company to land in the capital market, and is expected to hit the "first share of China's e-sports".
BT Finance inquired about the information of Xingjing Weiwu Group on the official website of the China Securities Regulatory Commission and found that on May 31, Xingjing Weiwu Group had completed the announcement of the filing materials for the overseas initial public offering of the China Securities Regulatory Commission. It is planned to be listed on the NASDAQ in the United States, with no more than 26,902,827 shares to be issued under the stock code "NIPG", and has a large lineup of underwriters, including Deutsche Bank, CICC, GF Securities, and Tiger Brokers. It is reported that Xingjing Weiwu Group has publicly submitted a prospectus to the U.S. Securities and Exchange Commission on June 12.
According to the prospectus, 29-year-old Mario Yau Kwan Ho is the chairman and co-CEO of Xingjing Weiwu, and the largest shareholder of Xingjing Weiwu, holding 14.2% of the shares. Except for a 72-year-old executive, the rest of the executives are younger, and He Youjun is the second-to-last senior executive. The other co-CEO is Hicham Chahine, 35, who is a member of the Executive Committee of the World Esports Association and serves on the Executive Committee of BLAST Premier.
Xingjing Weiwu was established not long ago, but it has been sought after by many capitals, and the current investment stocks include SIG, Zhen Fund, Wuhan Cultural Tourism Group, Shenzhen Radio and Television, 360, etc., especially Wuhan Cultural Tourism and Shenzhen Radio and Television have added a lot of points to their investment.
It is worth mentioning that the president and chairman of the club is Sun Liwei Sun, who is also the legal representative of Xingjing Weiwu Group, known as General T in the industry, participated in the first international competition at the age of 14 and successfully won, is a legend in the field of Chinese e-sports, and he is a professional person doing professional things as the president of Xingjing Weiwu.
The reason why Xingjing Weiwu was able to go public in the United States is not only due to He Youjun's management and operation, but also related to the rapid development of the game market. According to public information, in 2023, the global game market will be about $184 billion, with about 3.38 billion users. Among them, the mainland game market size is 302.964 billion yuan, and the number of users is 668 million. The mainland market accounts for about a quarter of the total market size, and users account for one-fifth of the total user scale. Specific to the e-sports game market, the actual sales revenue in 2023 will be 132.945 billion yuan, a year-on-year increase of 12.85%, accounting for 44% of the total game market, and it is the largest single game in the game market. It is precisely with such a large market size that the first share of esports came into being.
Revenue increased by 27% and gross profit doubled
In the six years since its establishment, Star Gaming has been the only e-sports organization in China with home stadiums in two cities, with Wuhan being the home of the eStar Gaming King of Glory team and Shenzhen being the home of the League of Legends team. As of the end of 2023, the Star Athletic team has 125 professional athletes competing in 12 esports competitions in 13 leagues around the world. Since 2020, the event business has held more than 400 important events in China, covering more than 70 cities. It quickly attracted a lot of attention. Wang Jiaer, a world-renowned artist and manager of TEAM WANG, has joined the talent agency of Xingjing Weiwu as an outstanding talent for its global network.
In addition to the e-sports business, Xingjing Weiwu has also reached cooperation with a number of educational institutions to solve the problem of talent shortage in the industry through the cultivation of professional talents. At present, there are more than 12 educational institutions in cooperation with Xingjing Weiwu, and it plans to expand the number of cooperative educational institutions to 50 by 2025 to promote the rapid development of the industry in a sustainable way.
Xingjing Weiwu's business is not only carried out in China, but also has involved Asia, Europe and South America, as an e-sports project "desert" and the Middle East with amazing consumption power, Xingjing Weiwu will naturally not let go, and plans to fully enter the Middle East this year. With its business in many regions around the world, Xingjing Weiwu has attracted a large number of fans around the world, and by the end of 2023, the number of fans on its global social platforms has reached more than 16 million.
The most important thing for Xingjing Weiwu to go public in the United States is its outstanding performance. According to the prospectus data, Xingjing Weiwu's performance has grown rapidly, with a total revenue of US$83.668 million in 2023 and a revenue of US$65.835 million in 2022, a year-on-year increase of 27%. In terms of gross profit, the growth rate of Xingjing Weiwu is even higher than the growth rate of revenue, with gross profit of US$3.74 million in 2022 and almost doubling to US$7.2 million in 2023. However, Xingjing Weiwu is still not profitable, and the prospectus shows that its net loss from 2022 to 2023 will be about 6.306 million and 13.258 million US dollars respectively.
In 2018, He Youjun completed a round of financing of hundreds of millions of yuan only 10 months after the establishment of Weiwu E-sports, led by Guojin Investment, followed by Jinlan Investment, StarVC, and Jiangxi Riyueming Industrial Co., Ltd. In 2019, it became the first Chinese e-sports club to complete financing, and set a record for the highest single financing amount.
Investor Shi Baogang said he was not surprised. For example, in March 2018, Liang Anqi, the fourth wife of the gambling king, subscribed for 114 million yuan with Vigo Global investment in his name in order to help his son, holding 1.11% of the shares of iDreamSky. At the same time, parents will use their influence to escort their children's entrepreneurship. Wang Sicong is the same, it is actually difficult to replicate the rich second-generation entrepreneurship like them, after all, they have their father's network of connections, and these resources sometimes cannot be measured by money. ”
"Wang Jianlin actually doesn't support Wang Sicong to engage in e-sports, in his eyes, e-sports is a game for Wang Sicong, but the gambling king family fully supports He Youjun in e-sports, and the investment of investors from all walks of life in He Youjun is actually better than the investment in the gambling king, which also causes He Youjun to be more successful than Wang Sicong in the field of e-sports." Shi Baogang believes that the difference in family support for e-sports is a major reason why He Youjun and Wang Sicong have achieved different results in the same track.
At present, He Youjun owns a listed company through entrepreneurship, and the other is about to be listed, while Wang Sicong has actually lost a city in the field of e-sports. Judging from the love between He Youjun and Xi Mengyao, there have never been peachy scandals, the 29-year-old He Youjun is more mature and ambitious than the 36-year-old Wang Sicong.
Author | Dream Shaw