Blued

Newborn Town to Acquire BlueCity in Move to Expand into Global Online Social Networking Market

Retrieved on: 
Monday, March 27, 2023

In the same month, Newborn Town announced its participation in the privatization of BlueCity through MetaClass Management ELP.

Key Points: 
  • In the same month, Newborn Town announced its participation in the privatization of BlueCity through MetaClass Management ELP.
  • The combined expertise of Newborn Town and BlueCity aims to leverage technology to facilitate social interactions through multiple channels across different verticals.
  • According to a report released by market research firm Frost & Sullivan, the global online LGBTQ social entertainment market is anticipated to reach US$8.7 billion by 2025.
  • By doing so, Newborn Town looks to expand its reach and impact while building a strong reputation as a leader in the global social networking field.

Newborn Town Announces 2022 Annual Results: Revenue Rose over 18% YoY and Profit Attributable to the Owners of Company Increased by 145.5%

Retrieved on: 
Friday, March 24, 2023

In 2022, Newborn Town recorded a revenue of RMB 2,800 million, representing a year-on-year ("YoY") increase of 18.6%.

Key Points: 
  • In 2022, Newborn Town recorded a revenue of RMB 2,800 million, representing a year-on-year ("YoY") increase of 18.6%.
  • Profit for 2022 increased by 174.2% YoY to RMB 287 million, and profit attributable to the owners of company increased by 145.5% YoY to RMB 130 million.
  • According to the announcement, Newborn Town has witnessed steady growth in its social networking business throughout 2022.
  • In addition to consolidating its core social business, Newborn Town continued exploring the synergies between gaming and social networking segments.

BlueCity Announces Completion of Merger

Retrieved on: 
Friday, August 12, 2022

BEIJING, Aug. 12, 2022 (GLOBE NEWSWIRE) -- BlueCity Holdings Limited (BlueCity or the Company) (NASDAQ: BLCT), a leading online LGBTQ platform, today announced that completion of the merger (the Merger) with Diversefuture Limited (the Merger Sub), a wholly-owned subsidiary of Multelements Limited (the Parent), pursuant to the previously announced Agreement and Plan of Merger (the Merger Agreement), dated as of April 30, 2022, among the Company, the Parent and the Merger Sub.

Key Points: 
  • BEIJING, Aug. 12, 2022 (GLOBE NEWSWIRE) -- BlueCity Holdings Limited (BlueCity or the Company) (NASDAQ: BLCT), a leading online LGBTQ platform, today announced that completion of the merger (the Merger) with Diversefuture Limited (the Merger Sub), a wholly-owned subsidiary of Multelements Limited (the Parent), pursuant to the previously announced Agreement and Plan of Merger (the Merger Agreement), dated as of April 30, 2022, among the Company, the Parent and the Merger Sub.
  • As a result of the Merger, the Company became a wholly owned subsidiary of Parent and will cease to be a publicly traded company.
  • BlueCity (NASDAQ: BLCT) is a world-leading online LGBTQ community providing a comprehensive suite of services to foster connections and enhance the wellbeing of the LGBTQ community.
  • With commitment to providing high-quality user experience, ensuring privacy protection, and promoting community health and well-being, BlueCity has captured the hearts and minds of LGBTQ people across the globe.

BlueCity Announces Shareholders’ Approval of Merger Agreement

Retrieved on: 
Friday, July 29, 2022

Each shareholder has one vote for each Class A ordinary share held and five votes for each Class B ordinary share held.

Key Points: 
  • Each shareholder has one vote for each Class A ordinary share held and five votes for each Class B ordinary share held.
  • The Merger Agreement, the Plan of Merger and the transactions contemplated thereby, including the Merger, were approved by approximately 95.7% of the total votes cast at the extraordinary general meeting, and were therefore duly authorized and approved by way of special resolutions as required by, and in compliance with, the Companies Act of the Cayman Islands.
  • Completion of the Merger is subject to the satisfaction or waiver of the conditions set forth in the Merger Agreement.
  • The Company will work with the other parties to the Merger Agreement towards satisfying all other conditions precedent to the Merger set forth in the Merger Agreement and complete the Merger as quickly as possible.

BlueCity Holdings Limited to Hold Extraordinary General Meeting of Shareholders

Retrieved on: 
Thursday, June 23, 2022

BEIJING, June 23, 2022 (GLOBE NEWSWIRE) -- BlueCity Holdings Limited (BlueCity or the Company) (NASDAQ: BLCT), a leading online LGBTQ platform, today announced it has called an extraordinary general meeting of shareholders (the EGM), to be held on July 29, 2022 at 10:00 a.m. (Beijing time), at Block 2 Tower B, No.

Key Points: 
  • BEIJING, June 23, 2022 (GLOBE NEWSWIRE) -- BlueCity Holdings Limited (BlueCity or the Company) (NASDAQ: BLCT), a leading online LGBTQ platform, today announced it has called an extraordinary general meeting of shareholders (the EGM), to be held on July 29, 2022 at 10:00 a.m. (Beijing time), at Block 2 Tower B, No.
  • Shareholders of recordas of 10:00 a.m. (New York City time) on July 15, 2022 will be entitled to attend and vote at the EGM and any adjournment thereof.
  • In addition, the Companys proxy materials (including the definitive proxy statement) will be mailed to the Companys shareholders.
  • The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

BlueCity Announces Promotion of Junchen Sun to Chief Financial Officer

Retrieved on: 
Thursday, May 19, 2022

BEIJING, May 19, 2022 (GLOBE NEWSWIRE) -- BlueCity Holdings Limited (BlueCity or the Company) (NASDAQ: BLCT), a leading online LGBTQ platform, today announced that that it has promoted Mr. Junchen Sun, acting Chief Financial Officer of the Company, to Chief Financial Officer, effective May 19, 2022.

Key Points: 
  • BEIJING, May 19, 2022 (GLOBE NEWSWIRE) -- BlueCity Holdings Limited (BlueCity or the Company) (NASDAQ: BLCT), a leading online LGBTQ platform, today announced that that it has promoted Mr. Junchen Sun, acting Chief Financial Officer of the Company, to Chief Financial Officer, effective May 19, 2022.
  • Mr. Sun joined BlueCity in February 2017 and served as the acting Chief Financial Officer of the Company since May 2021.
  • Prior to joining BlueCity, he served as financial controller at MicroMedia Holdings Limited from 2015 to 2017 and a senior associate at PricewaterhouseCooper Zhong Tian LLP, Tianjin Branch, from 2011 to 2015.
  • As he continues to lead our efforts in financial management, we are confident in our ability to achieve our strategic and financial goals.

Blued launches HIV awareness campaign in South Korea together with influencers and NGOs

Retrieved on: 
Friday, May 6, 2022

Besides raising awareness on HIV testing, the campaign also highlights the importance of pre-exposure prophylaxis (PrEP), a medication that is highly effective at preventing HIV transmission when taken as prescribed.

Key Points: 
  • Besides raising awareness on HIV testing, the campaign also highlights the importance of pre-exposure prophylaxis (PrEP), a medication that is highly effective at preventing HIV transmission when taken as prescribed.
  • During the campaign, Blued South Koreas launch screen and banners will feature a campaign visual.
  • As part of the campaign, Blued will also conduct two one-hour livestreams, at 9PM on May 10 and May 17, respectively.
  • Currently, Blued South Korea boasts two such NGOs, iSHAP and the Korea Medical Support Foundation.

BlueCity Enters into Definitive Agreement for Going-Private Transaction

Retrieved on: 
Saturday, April 30, 2022

The Special Committee negotiated the terms of the Merger Agreement with the assistance of its financial and legal advisors.

Key Points: 
  • The Special Committee negotiated the terms of the Merger Agreement with the assistance of its financial and legal advisors.
  • The Company will prepare and file with the U.S. Securities and Exchange Commission a Schedule 13E-3 transaction statement, which will include a proxy statement of the Company.
  • The Schedule 13E-3 will include a description of the Merger Agreement and contain other important information about the Merger, the Company and the other participants in the Merger.
  • In addition, certain participants in the Merger will prepare and mail to the Companys shareholders a Schedule 13E-3 transaction statement that will include the proxy statement.

BlueCity wins the WHO’s first-ever Western Pacific Innovation Challenge

Retrieved on: 
Friday, April 29, 2022

BlueCity is thrilled to receive such recognition from the WHO, the worlds leading organization in the field of public health, said Baoli Ma, founder, chairman, and CEO of BlueCity.

Key Points: 
  • BlueCity is thrilled to receive such recognition from the WHO, the worlds leading organization in the field of public health, said Baoli Ma, founder, chairman, and CEO of BlueCity.
  • Over 400 public health innovators participated in the WHOs Western Pacific Innovation Challenge and 29 were awarded.
  • BlueCity pioneered the concept of digitally-enabled HIV prevention in 2008 by integrating online and offline resources to streamline access to HIV testing, counseling, and treatment.
  • The winning solutions will be showcased at the 2022 Western Pacific Innovation Forum: Scaling for Impact event on April 28-29, which will bring together experts in public health, innovation, and policy from across the region.

BlueCity Filed Annual Report on Form 20-F for Fiscal Year 2021

Retrieved on: 
Thursday, April 28, 2022

BEIJING, April 28, 2022 (GLOBE NEWSWIRE) -- BlueCity Holdings Limited (BlueCity or the Company) (Nasdaq: BLCT), a leading online LGBTQ platform, today announced that it filed its annual report on Form 20-F (the "Annual Report") for the fiscal year ended December 31, 2021 with the U.S. Securities and Exchange Commission (the "SEC") on April 28, 2022.

Key Points: 
  • BEIJING, April 28, 2022 (GLOBE NEWSWIRE) -- BlueCity Holdings Limited (BlueCity or the Company) (Nasdaq: BLCT), a leading online LGBTQ platform, today announced that it filed its annual report on Form 20-F (the "Annual Report") for the fiscal year ended December 31, 2021 with the U.S. Securities and Exchange Commission (the "SEC") on April 28, 2022.
  • The Annual Report can be accessed on the Company's investor relations website at ir.blue-city.com and on the SEC's website at www.sec.gov .
  • The Company will provide a hard copy of the Annual Report containing the audited consolidated financial statements, free of charge, to its shareholders and ADS holders upon request.
  • BlueCity (NASDAQ: BLCT) is a world-leading online LGBTQ community providing a comprehensive suite of services to foster connections and enhance the wellbeing of the LGBTQ community.