乐华上市

1月19日，乐华娱乐集团正式在香港交易所主板挂牌上市，杜华、韩庚、王一博、程耳、于冬等现身现场敲锣。

🤔️小作业：

无注释原文：

Hunt for China's BTS Leads Entertainment ‘Godmother’ to Riches

From: Bloomberg

Jennifer Zhan would do almost anything to see Wang Yibo, the Chinese actor, rapper and motorcycle racer. When she heard that his latest movie, Hidden Blade, would be released in China this month, the 30-year-old bought a plane ticket from Canada, where she lives, to see it with her parents and friends back home.

“I want to support him, to show my idol’s popularity,” said Zhan, a travel agent who checks Wang’s social media every day and buys the fashion items he wears as much as her budget allows.

Wang is one of the top stars at YH Entertainment Group, China’s largest artist-management firm. He’s sold tens of millions of singles and works with brands including Chanel and Moncler. With more than 40 million online followers, he’s one of the major reasons for YH’s success. 

YH is known for bringing the K-pop model to China. Its founder and chairwoman, Du Hua, dubbed the “godmother of Chinese entertainment,” started grooming the nation’s superstars more than a decade ago, securing backing from Alibaba Group Holding Ltd. and ByteDance Ltd.’s Douyin, the TikTok equivalent on the mainland. 

Wang, who was already participating in Chinese hip-hop dance competitions at age 13, was among the first to join Du’s training program. He was then selected to be part of UNIQ, a boy band akin to BTS.

Now YH is finally going public after an unsuccessful attempt in September.

To get the sale done, the company reduced its size and picked up four cornerstone investors, including billionaire Ding Shijia from China’s Anta Sports Products Ltd. It raised about HK$490 million ($63 million) on Wednesday — down from an original listing for as much as $140 million —  and this time its retail portion was oversubscribed by almost 30 times. The shares start trading on Thursday in Hong Kong. 

Du, who owns a 43% stake in YH, is now worth about $240 million, according to the Bloomberg Billionaires Index.

“The overall IPO market in Hong Kong has turned better in recent weeks, and investors are interested in YH again as China is reopening,” said Stanley Chan, director of research at Emperor Securities. The offering’s smaller size and cornerstone investors have helped build confidence, he added. 

A YH representative declined to comment. 

Du, 41, said in a Vogue China interview from 2018 that she dreamed of becoming an artist herself when she was in middle school. Instead, she went on to study English at a Chinese university and later worked for an internet-service provider for five years, eventually rising to become the head of its music unit before leaving to found YH in 2009. 

She burned through 2 million yuan ($295,000) in seed funding in six months before realizing the traditional route of signing up artists to publish records wasn’t going to get her far. The K-pop model was taking over the world.

So she pledged her house to get the money she needed to fly to Japan and South Korea, where she learned the particulars of picking talented teenagers to turn them into the next superstars. 

Du’s business really took off in 2018, when online streaming platforms under Tencent Holdings Ltd. and iQiyi Inc. started reality shows that let viewers pick their idols to form the next music band. Many of YH’s artists gained national popularity through the programs, and now the company manages seven groups.

While YH’s revenue jumped 40% to 1.3 billion yuan in 2021 and profit was up 15%, the company is also facing its own challenges. It operates in a particularly competitive sector, and results are closely linked to its best artists, with its top performer accounting for almost 60% of sales for the nine months through September, it said in its listing prospectus, without specifying the names of its best-selling stars. YH has said it will keep promoting its established talent and expand its trainee roster. 

“If YH wants to produce the next big hit actor or actress, it will need a lot of time and resources,” said Lutina Gu, a consultant at Daxue Consulting in Shanghai.

“Finding the next superstar comes always with a lot of uncertainty,” Emperor Securities’ Chan said.

注：中文文本为机器翻译并非一一对应，仅供参考

含注释全文：

Hunt for China's BTS Leads Entertainment ‘Godmother’ to Riches

From: Bloomberg

Jennifer Zhan would do almost anything to see Wang Yibo, the Chinese actor, rapper and motorcycle racer. When she heard that his latest movie, Hidden Blade, would be released in China this month, the 30-year-old bought a plane ticket from Canada, where she lives, to see it with her parents and friends back home.

詹·珍妮弗为了见王一博，几乎不惜一切代价。王一博是中国演员、说唱歌手和摩托车赛车手。当她听说王一博的最新电影《无名》（Hidden Blade）将于本月在中国上映时，30岁的她从她居住地加拿大买了一张机票，要和父母和朋友一起回国看。

blade /bleɪd/ 除了表示“刀身；刀片；刀刃”，也可以表示“（草等的）叶片”，英文解释为“a long, narrow leaf of grass or a similar plant”如：a blade of grass 草叶。

还可以表示“有吸引力、自信的年轻男子”，英文解释为“an attractive and confident young man”如：a dashing young blade 一个精神抖擞、潇洒自若的年轻人。

“I want to support him, to show my idol’s popularity,” said Zhan, a travel agent who checks Wang’s social media every day and buys the fashion items he wears as much as her budget allows.

“我想支持他，展示我偶像的受欢迎程度，”詹·珍妮弗说，她是一名旅行代理人，每天都会查看王一博的社交媒体平台，并在预算范围内购买他穿的时尚单品。

Wang is one of the top stars at YH Entertainment Group, China’s largest artist-management firm. He’s sold tens of millions of singles and works with brands including Chanel and Moncler. With more than 40 million online followers, he’s one of the major reasons for YH’s success. 

王一博是中国最大的艺人管理公司乐华娱乐集团（YH Entertainment Group）的顶流之一。他的单曲销量达数千万张，并与香奈儿（Chanel）和盟可睐（Moncler）等品牌合作。他拥有超过4000万的网络粉丝，是乐华娱乐集团成功的主要原因之一。

YH is known for bringing the K-pop model to China. Its founder and chairwoman, Du Hua, dubbed the “godmother of Chinese entertainment,” started grooming the nation’s superstars more than a decade ago, securing backing from Alibaba Group Holding Ltd. and ByteDance Ltd.’s Douyin, the TikTok equivalent on the mainland. 

乐华娱乐集团以引入韩流模式而闻名。其创始人兼董事长杜华被称为“中国娱乐圈教母”，十多年前开始培养中国的超级明星，获得了阿里巴巴集团控股有限公司和字节跳动有限公司旗下抖音（中国大陆版TikTok）的支持。

1）表示“把…称为”，英文解释为“If someone or something is dubbed a particular thing, they are given that description or name.”举个🌰：

Today's session has been widely dubbed as a "LearnAndRecord"meeting. 今天的会议被大众称为“LearnAndRecord”的会议。

2）表示“为（影片或声道等）配音”，英文解释为“If a film or soundtrack in a foreign language is dubbed, a new soundtrack is added with actors giving a translation.”举个🌰：

It was dubbed into Spanish for Mexican audiences. 它已为墨西哥观众配成西班牙语了。

动词，表示“培养，培训，使做好准备”，英文解释为“to prepare someone for a special job or activity”举个🌰：

She was being groomed for leadership. 她正在接受培训以担任领导。

1）熟词僻义，作动词，表示“获得；设法得到；争取到”，英文解释为“to get something, sometimes with difficulty”举个🌰：

He was disappointed by his failure to secure the top job with the bank. 他因没能得到银行的高层工作而失望。

2）表示“使安全；保护；保卫”，英文解释为“to make certain something is protected from danger or risk”举个🌰：

This form of investment is an excellent way of securing your children's financial future. 这种投资方式是为你的孩子提供日后经济保障的极佳方式。

1）作形容词，表示“（价值、数量、意义、重要性等）相等的，相同的”，英文解释为“equal in value, amount, meaning, importance, etc.”举个🌰：

Eight kilometres is roughly equivalent to five miles. 八公里约等于五英里。

2）作名词，表示“相等的东西；等量；对应词”，英文解释为“a thing, amount, word, etc. that is equivalent to sth else”。

比如，提到Weibo时候会介绍为中国版的Twitter，常见的有几种说法：

🧣Weibo, China's Twitter-like service (SCMP)

🧣Weibo, the Chinese equivalent to Twitter (NPR NEWS)

🧣Twitter-like Weibo (Reuters)

🧣Weibo, a Twitter-like platform (NYT)

Wang, who was already participating in Chinese hip-hop dance competitions at age 13, was among the first to join Du’s training program. He was then selected to be part of UNIQ, a boy band akin to BTS.

13岁就开始参加中国街舞比赛的王一博是第一批加入杜华培养计划的人之一。然后，他被选为UNIQ的一员，这是一个类似于BTS的男子组合。

akin to sth 表示“与某物相似的，与某物类似的”，英文解释为“very similar to something”举个🌰：

Something akin to panic overwhelmed him. 一种近似惊恐的感觉使他不知所措。

Now YH is finally going public after an unsuccessful attempt in September.

在9月份一次失败的尝试后，乐华娱乐集团终于上市了。

1) 表示“公开，公之于众”，英文解释为“to tell everyone about something that was secret”举个🌰：

The planners are almost ready to go public on the road-building scheme. 规划者们差不多准备好公布筑路方案了。

2) 表示“（公司）公开发售股票，上市”，英文解释为“to become a public company”举个🌰：

The company went public in 2023. 这家公司于2023年上市。

🎬电影《美国队长3：内战》（Captain America: Civil War）中的台词提到：Tips have been pouring in since that footage went public. 录像公布后收到了很多线报。

🎬电影《心理游戏》（The Game）中的台词提到：CRS won't go public. They're family owned. 「消服会」不上市，它是家族企业。

To get the sale done, the company reduced its size and picked up four cornerstone investors, including billionaire Ding Shijia from China’s Anta Sports Products Ltd. It raised about HK$490 million ($63 million) on Wednesday — down from an original listing for as much as $140 million —  and this time its retail portion was oversubscribed by almost 30 times. The shares start trading on Thursday in Hong Kong.

为了上市，该公司缩小了规模，并引入了包括中国安踏体育用品有限公司的亿万富翁丁世家在内的四个基石投资者。周三，该公司筹集了约4.9亿港元（6300万美元），低于原先高达1.4亿美元的价格。这一次，其公开发售部分超额认购了近30倍。该股于周四在香港开始交易。

cornerstone /ˈkɔː.nə.stəʊn/ 1）表示“基石；（尤指）奠基石”，英文解释为“a stone in a corner of a building, especially one with the date when the building was made or other writing on it”

2）表示“基础，根本”，英文解释为“something of great importance that everything else depends on”举个🌰：

In most countries, the family unit is still the cornerstone of society. 在大多数国家，家庭仍然是社会的基础单位。

list作动词，表示“使（公司）上市；（公司）上市”（If a company is listed, or if it lists, on a stock exchange, it obtains an official quotation for its shares so that people can buy and sell them.）举个🌰：

Last month, thirty new companies were listed. 上个月有30家公司上市。

📍relist 重新上市。

📍listing作名词，除了表示“（表册上的）位置，项目”，也有“上市”的含义，英文解释为“a position or an item on a list”举个🌰：

The company is seeking a stock exchange listing (= for trading shares). 这家公司正在争取上市。

表示“（尤指对股票或票）超额认购的，订购过多的”，英文解释为“If something is oversubscribed, people still want to buy things, especially shares or tickets, although all of them are already sold.”举个🌰：

The $400 million oil company share issue was three times oversubscribed. 4亿美元的石油公司新发股被超额认购了3倍。

🎬电影《华尔街：金钱永不眠》（Wall Street: Money Never Sleeps）中的台词提到：And it's no wonder our new fund is oversubscribed. 难怪我们的新基金被超额认购了。

Du, who owns a 43% stake in YH, is now worth about $240 million, according to the Bloomberg Billionaires Index.

根据彭博富豪指数，持有乐华娱乐集团43%股份的杜华现在身价约2.4亿美元。

“The overall IPO market in Hong Kong has turned better in recent weeks, and investors are interested in YH again as China is reopening,” said Stanley Chan, director of research at Emperor Securities. The offering’s smaller size and cornerstone investors have helped build confidence, he added. 

英皇证券研究部总监陈锦兴（Stanley Chan）表示：“随着中国内地重新开放，香港首次公开募股（IPO）市场最近几周有所好转，投资者再次对乐华娱乐集团感兴趣。”他补充称，此次IPO规模较小，基石投资者也帮助建立了信心。

首次公开募股（Initial Public Offering, IPO）是指一家企业第一次将它的股份向公众出售。一旦首次公开上市完成后，这家公司就可以申请到证券交易所或报价系统挂牌交易。（百度百科）

复数形式securities，熟词僻义，表示“证券”，英文解释为“documents proving that sb is the owner of shares, etc. in a particular company”。

A YH representative declined to comment.

乐华娱乐集团的代表拒绝置评。

Du, 41, said in a Vogue China interview from 2018 that she dreamed of becoming an artist herself when she was in middle school. Instead, she went on to study English at a Chinese university and later worked for an internet-service provider for five years, eventually rising to become the head of its music unit before leaving to found YH in 2009. 

41岁的杜华在2018年接受《Vogue China》采访时说，她上中学时就梦想成为艺人。然而，她在中国一所大学学英语，后来在一家互联网服务提供商工作了五年，最终成为其音乐部门的负责人，然后在2009年离职去创建了乐华娱乐集团。

She burned through 2 million yuan ($295,000) in seed funding in six months before realizing the traditional route of signing up artists to publish records wasn’t going to get her far. The K-pop model was taking over the world.

她在六个月内花光了200万元（29.5万美元）的种子资金，然后意识到签约艺人发行唱片的传统路线不会让她走得太远。韩流模式正在席卷全球。

So she pledged her house to get the money she needed to fly to Japan and South Korea, where she learned the particulars of picking talented teenagers to turn them into the next superstars. 

于是她抵押了她的房子，获得了去日本和韩国学习如何选择有才华的青少年并将其培养成下一个超级明星所需的资金。

1）作动词，表示“承诺，保证（做某事）；保证给予（某物）”，英文解释为“When someone pledges to do something, they promise in a serious way to do it. When they pledge something, they promise to give it.”举个🌰：

He pledges support and offers to help in any way that he can. 他承诺给予支持并提供力所能及的帮助。

2）表示“抵押”，英文解释为“If you pledge something such as a valuable possession or a sum of money, you leave it with someone as a guarantee that you will repay money that you have borrowed.”举个🌰：

He asked her to pledge the house as security for a loan. 他要她抵押房子作为贷款担保。

3）作名词，表示“誓言；诺言；保证”，英文解释为“When someone makes a pledge, they make a serious promise that they will do something.”举个🌰：

The meeting ended with a pledge to step up cooperation between the states of the region. 会议以加快该地区州之间合作的承诺结束。

particular /pəˈtɪk.jə.lər/ 作名词通常复数，表示“细节，详情；个人资料；具体信息”，英文解释为“details or information about a person or an event, especially when officially recorded”举个🌰：

There's a form for you to note down all your particulars. 这里有一份表格，请在上面填写你所有的个人资料。

Du’s business really took off in 2018, when online streaming platforms under Tencent Holdings Ltd. and iQiyi Inc. started reality shows that let viewers pick their idols to form the next music band. Many of YH’s artists gained national popularity through the programs, and now the company manages seven groups.

2018年，腾讯控股有限公司和爱奇艺公司旗下的在线流媒体平台推出了真人秀节目，让观众选择偶像成立组合。杜华公司业务真正腾飞。乐华娱乐集团的许多艺人通过这些节目获得了全国知名度，现在该公司管理着七个组合。

表示“突然开始成功；开始走红，流行起来”，英文解释为“to suddenly start to be successful or popular”举个🌰：

Her singing career had just begun to take off. 她的歌唱事业刚刚起飞。

While YH’s revenue jumped 40% to 1.3 billion yuan in 2021 and profit was up 15%, the company is also facing its own challenges. It operates in a particularly competitive sector, and results are closely linked to its best artists, with its top performer accounting for almost 60% of sales for the nine months through September, it said in its listing prospectus, without specifying the names of its best-selling stars. YH has said it will keep promoting its established talent and expand its trainee roster. 

虽然乐华娱乐集团的收入在2021年增长了40%，达到13亿元，利润增长了15%，但该公司也面临着自己的挑战。它处于一个竞争特别激烈的行业，业绩与其顶流艺人密切相关，根据其上市招股说明书，截至9月份的9个月里，其顶流艺人占销售额的近60%，但未指明其最受欢迎艺人的名字。乐华娱乐集团表示将继续推广其老牌艺人，并扩大其新人阵容。

prospectus /prəˈspek.təs/ 表示“（学校或企业的）简介，章程”，英文解释为“a document giving details of a college, school, or business and its activities”举个🌰：

You will find details of all our courses in the prospectus. 你可以在课程简介中找到我们所有课程的详情。

表示“花名册; 名单；候选名单；值勤表，勤务簿”，英文解释为“A roster is a list, especially of the people who work for a particular organization or are available to do a particular job. It can also be a list of the athletes who are available for a particular team；A list of people's names, often with the jobs they have been given to do”

“If YH wants to produce the next big hit actor or actress, it will need a lot of time and resources,” said Lutina Gu, a consultant at Daxue Consulting in Shanghai.

“如果乐华娱乐集团想培养下一位大获成功的艺人，那将需要大量的时间和资源，”上海DX咨询顾问顾女士说。

“Finding the next superstar comes always with a lot of uncertainty,” Emperor Securities’ Chan said.

英皇证券的陈锦兴表示：“寻找下一个超级巨星总是伴随着很多不确定性。”

- 今日盘点 -

blade、 dub、 groom、 secure、 equivalent、 akin、 go public、 cornerstone、 list、 oversubscribe、 IPO、 security、 pledge、 particulars、 take off、 prospectus、 specify、 roster

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