Is the primary school student user adult under the strong supervision of the “bleeding” listing of the company to which TT Voice belongs? _Sina

Original title: TT Voice’s company “bleeds” listed under the strong supervision of elementary school users to become adults?

Our reporter Xie Ruolin

Seven years after its establishment, Quwan Network (a company owned by TT Voice) embarked on the IPO journey. TT Voice is the core application of Quwan. Its main function is voice chat. It was first used for online communication when gamers are teaming up. Players on the same team in different areas can synchronize game progress and strategic deployment, which leads to unfamiliarity. Social networking, live broadcasting, K song, e-sports and other services.

After submitting the prospectus, TT Voice App carried out another round of version upgrades. On October 24, the reporter downloaded a new version of the App and found that the mandatory actions for new users after completing registration are uploading an avatar, selecting gender, and selecting age. However, the minimum age of birth in the system is 2002, which also means that, TT Voice defaults that all users are over 19 years old.

The Quwan Internet prospectus stated: “We have been ordered by the relevant Chinese regulators to make corrections due to non-compliance of the content on the TT voice application and other matters. Conditions and operating results have a material adverse effect.”

  Proliferation of underage users

  Have provided accompany play service

“TT Voice was born in the glorious period of PC games. Some large-scale MMORPG (massively multiplayer online role-playing games) games are usually set to team up to fight monsters. Voice software is very important when doing tasks.” A game An industry data analyst said in an interview with a reporter from the Securities Daily: “In recent years, the market share of mobile games has continued to increase. The random teaming and online voice functions that come with some mobile games are very easy to use, and the new force of PC games Gradually weakened, the voice software that is attached to it is facing the problem of transformation. Based on the original game users, these software are more inclined to socialize, live broadcast, and play with strangers during the transformation.”

The reporter noticed that TT Voice provides three application directions for new users. When a new user registers, TT Voice will ask “Who do you want to find the most?”, select “Expanded to find companions”, “Send to find great gods”, “Open black to find teammates”, and select “Expanded to find companions”. After entering the main interface, the reporter opened the “Juvenile Supervision System” at the same time.

However, TT Voice still recommends a large number of companions for “Extended Chat”. Many users’ nicknames are “Changing” and “Are you in love”. The reporter randomly selected 3 chat rooms, and 2 homeowners made it clear that they were elementary school students. One of the homeowners has obviously not changed their voice, and another female user who claims to be 11 years old is talking about “I am broken in love”. The reporter talked with him for nearly half an hour, and she has been emphasizing that she is very young and has a rich love experience.

In addition, the reporter found that TT Voice still relies on game chat. According to the prospectus, as of the first half of this year, the number of daily live voice chat rooms for company users to play “Glory of the King” exceeded 212,000. According to previous media reports, TT Voice not only provides voice chat, but also provides accompaniment services.

Just two months ago, “Hello Voice”, “Little Deer Play With”, “Bixin” and other play-accompanying software were removed indefinitely. Previously, “Bixin” had beenPeople’s Daily OnlineNamed “Yellow-related”, and then “Bixin” permanently banned more than 20,000 pornographic accounts.

So, how should accompany and game voice products be defined?

Sun Yang, a researcher at the Suning Institute of Finance, told a reporter from the Securities Daily that from the perspective of types, accompaniment is divided into two types: online and offline. Due to the strong social attributes of games, (online accompaniment products) are similar to social software. . Voice software is a tool-based application, used for voice communication, voice change, and meeting rooms. Game voice software is by definition tool-based, similar to Tencent Meeting. The boundary between it and social software lies in whether it belongs to social tools or not. Voice tools.

“Game voice software should adopt a juvenile protection system. Many similar software use pornography and celebrity social networking to obtain benefits. It is extremely harmful to minors. It not only encourages minors to indulge in games, but also builds on pornography, Social relations at the monetary level are also very detrimental to the growth of minors.” Sun Yang further said.

  A huge loss of nearly 1 billion yuan in the first half of the year

  Less than one million paying users

Can TT Voice tell a good capital story after it goes public?

Quwan Network positions itself as a “player-centric mobile social network platform”. The prospectus shows that TT Voice is the largest player-centric mobile social network platform in China, with a market share of 14.3%. “(Although) the company is still in the early stages of monetization, but it has achieved rapid growth,” the company said.

At the performance level, from 2018 to the first half of 2021, Quwan Network achieved operating revenues of 433 million yuan, 836 million yuan, 1.493 billion yuan, and 1.174 billion yuan, respectively. During the same period, it achieved net profits of 13.38 million yuan, 131 million yuan, and -154 million yuan. Yuan, -987 million yuan.

For the sudden turnaround, Quwan Network stated that the losses from 2020 to the first half of 2021 were mainly due to changes in the fair value of the company’s convertible redeemable preferred shares. In addition, share-based compensation and increased one-time expenses related to group restructuring also resulted in some losses.

In addition, from 2018 to the first half of 2021, the gross profit margin of Quwan Network was 71.2%, 63.1%, 65.0%, and 58.9%, and the net profit margin was 12.2%, 16.9%, 10.1%, and 0.4%, respectively, which were declining year by year.

From the perspective of revenue composition, Quwan’s revenue mainly comes from three aspects: value-added services, audio entertainment services, games and others. Among them, value-added services are the most important source of income. In the first half of 2021, the company’s revenue from value-added services accounted for 82.1% of total revenue.

At the user level, from 2018 to the first half of 2021, the average monthly active users of Quwan Network were 2.2 million, 5.4 million, 12.3 million, and 16.2 million, respectively. Among them, the average monthly paying users were 161,900, 385,600. 643,900 people and 826,800 people.

“Value-added services are mainly virtual gifts, commonly known as rewards. This is the main way to realize the current voice products, and the income of paying users will definitely not be able to support the company’s huge operating expenses.” The analyst said.

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Editor in charge: Deng Jian


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