BRIEF: Jay Chou-connected stock surges after pop star joins Douyin
Short video platform Douyin announced on Wednesday that Jay Chou officially opened an account under the name “Classmate Chou,” sparking a surge in a stock with ties to the Taiwan pop superstar.
Shares of Star Plus Legend Group Ltd. (6683.HK), a Hong Kong-listed company controlled by Chou’s family and operating his IP in Mainland China, skyrocketed by 94.37% on Wednesday, closing at HK$12.44, taking the company’s market cap past HK$10 billion ($1.27 billion).
According to Caixin, followers of Chou’s account jumped from 160,000 to 450,000 within 10 minutes and exceeded 1 million in just half an hour, surpassing 10 million by Thursday. Market rumors suggested Chou’s signing fee with Douyin was more than 100 million yuan ($14 million), but Douyin officially said the claim was false.
Star Plus Legend was founded in 2017 by Jay Chou’s mother Ye Huimei and his longtime manager, among other close associates. Headquartered in Kunshan of East China’s Jiangsu province, the company went public in Hong Kong in 2023. Its main business areas are new retail and IP operations.
The company reported total revenue of 584 million yuan in 2024, up 35.8% year-on-year, with net profit reaching 50.24 million yuan, up 21%. Approximately 45% of the company’s revenue came from its Modong Coffee slimming product line, while around 53.8% came from IP and content licensing.
By Lee Shih Ta
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