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It’s “take four” for Chinese web drama and online movie producer Nicefilm Entertainment Holdings Ltd., which has filed to list in Hong Kong that many times, including its latest application earlier this month following an earlier try in March and two last year. But it’s not easy making a living in showbiz, and Nicefilm’s latest prospectus shows why it could face more challenges winning over investors in the latest bid to put its name in lights on the Hong Kong big board.
Nicefilm was established in 2016 and operates four major businesses. Its main breadwinners are web series and online movie productions, while it also makes theatrical movies and licenses its intellectual property (IP). Since its establishment, the company has made 29 revenue-generating web series and 61 web movies, mostly distributed on China’s five major online video platforms: Youku, iQiyi (IQ.US), Tencent Video, Mango TV and Bilibili (9626.HK).