Core Insights - Soulgate, the parent company of the social platform Soul App, has submitted an IPO application to the Hong Kong Stock Exchange, with Tencent as a strategic investor holding 49.9% [1] - Soul App is the first AI-driven immersive social network platform in China where all users interact under virtual identities, with over 78.7% of daily active users being Gen Z [1] - The company reported projected revenues of 1.667 billion RMB, 1.846 billion RMB, and 2.211 billion RMB for 2022, 2023, and 2024 respectively, with a compound annual growth rate exceeding 15% [1] Financial Performance - For the first eight months of 2025, Soulgate's revenue reached 1.683 billion RMB, indicating strong growth [1] - The company is expected to achieve stable profitability starting in 2023, with adjusted profits of 337 million RMB for 2024 and 286 million RMB for the first eight months of 2025, alongside gross margins of 83.7% and 81.5% respectively [1] - The net cash generated from operating activities is projected to be 421 million RMB in 2024 [1] Use of Proceeds - The funds raised from the IPO will be allocated towards AI capability development, global expansion, user base growth, content development, and general corporate purposes [1]