BEIJING, February 25 (TMTPOST) — Chinese fitness technology company Keep has filed its prospectus to Hong Kong Exchanges and Clearing.

If the public listing process goes well for Keep, it will be the first fitness technology company to be listed on the stock market in Hong Kong.

Keep is a Chinese fitness platform that allows users to view fitness videos, purchase fitness classes and manage their workout plans. The platform also sells smart fitness equipment and sports-related products.

Keep had 29.7 million and 34.4 million monthly active users on average in 2020 and 2021 respectively, the prospectus shows. Last year, users who subscribed to Keep’s monthly plan grew from 1.9 million to 3.3 million. The membership penetration rate among its users increased from 6.4% in 2020 to 9.5% in 2021. Besides Chinese, the app is also available in 18 other languages, including English, German, Japanese and Spanish. In 2019, the app had 10 million users who were not based in China.

Keep’s main income sources include membership subscriptions, paid content and value-added services. The platform also has its own merchandise. In addition, Keep makes money from advertising and other services as well.

In 2019, Keep achieved a revenue of 663 million yuan. In 2020, the company’s revenue hit 1.107 billion yuan. Between January 1 and September 30, 2021, the company accumulated revenue of 1.159 billion yuan, registering year-on-year growth of 41.3%. Revenue from the platform’s own fitness products reached 396 million yuan, 637 million yuan and 639 million yuan in Q1-Q3 of 2019, 2020 and 2021 respectively.

Keep, developed by Beijing Calories Technology and launched in 2015, is a popular fitness app in China. It was the most downloaded fitness app in China with 38.8 million downloads between July and September in 2018, according to a report published by market research firm Sootoo Institute. Keep has its own brick-and-mortar fitness facilities named Keepland and smart hardware line KeepKit.

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