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China’s Gen-Z social platform Soul App files for Hong Kong listing

Soul App, a Chinese AI-driven social platform focusing on Gen-Z, has filed for a Hong Kong Stock Exchange listing with plans for growth and development. Backed by Tencent and other investors, it reported significant revenue and user engagement, indicating strong market potential.

Key points

  • Soul App filed for a listing on the Hong Kong Stock Exchange.
  • CITIC Securities is the sole sponsor of the IPO.
  • Tencent owns 49.9% of Soul App.
  • Proceeds from the listing will support AI development, global expansion, and content investment.
  • Soul generated RMB 1.68 billion (USD 234 million) in revenue in the first eight months of 2025.
  • The platform has been profitable since 2023, with 2024 adjusted earnings exceeding RMB 330 million (USD 47 million).
  • It has approximately 390 million registered users, with 11 million daily active users, over 78.7% being Gen-Z.
  • Frost & Sullivan ranked Soul first among AI-driven immersive social platforms in China regarding DAU and user retention.

Why it matters

  • The rise of AI and social media platforms aligns with 2025 IT Trends, focused on user experience and engagement.
  • Investments in AI for social platforms reflect broader trends in tech seeking to leverage data for personalization.
  • Soul's focus on Gen-Z connects to the growing influence of this demographic in online platforms and consumer behavior.
  • The Hong Kong Stock Exchange is becoming a popular destination for tech listings, reflecting financial market shifts in Asia.

Soul App's IPO filing highlights the convergence of AI technology and social media engagement, showcasing significant growth potential in the ever-evolving digital landscape for the Gen-Z demographic.