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On April 19, BlueCity and UNAIDS launched a video titled "Would You Discriminate against Me?" on major Chinese social media platforms. This initiative aims to combat discrimination, having started on March 1 with a series of awareness events across the Asia-Pacific. The video addresses various forms of discrimination impacting daily life, including issues faced by individuals living with HIV and gender discrimination. Within 48 hours, the video garnered over one million views. BlueCity continues its commitment to diversity and inclusion, leveraging technology to support marginalized communities.
On April 22, BlueCity CEO Baoli Ma will speak at Collision 2021, addressing LGBTQ unity in China and beyond. Ma transitioned from a closeted policeman to a founder of one of China's first online gay forums and the Blued app, launched in 2012 with over 63 million users globally. The event highlights BlueCity’s NASDAQ listing in 2020 and its future growth plans in a competitive market. The new He Health platform, recently licensed as an internet hospital, aims to enhance men's health services in China.
BlueCity (Nasdaq: BLCT) announced that its health service platform, He Health, has received an Internet hospital license in Mainland China. This allows BlueCity to provide comprehensive men's health services, including consultations for erectile dysfunction, HIV prevention, and more. He Health has seen impressive growth, with a revenue increase of 800% year-on-year in Q4 2020. The online health consultation market in China is projected to reach RMB 523 billion by 2025, indicating significant potential for growth in men's health services.
BlueCity Holdings Limited (Nasdaq: BLCT) reported a 24.2% increase in fourth-quarter revenues, totaling RMB278.8 million (US$42.7 million), and a full-year revenue growth of 35.9%, reaching RMB1.03 billion (US$158.1 million). However, net loss for Q4 was RMB73.1 million (US$11.2 million), up from RMB7.2 million in 2019. Monthly active users climbed to 7.6 million, reflecting a 20.3% increase. Full-year net loss was RMB221.9 million (US$34.0 million). The company anticipates revenues between RMB1.41 billion and RMB1.46 billion in 2021.
BlueCity, a leading LGBTQ community platform, collaborates with UNAIDS for a monthlong campaign to combat discrimination in Asia-Pacific, coinciding with Zero Discrimination Day on March 1. Their initiative includes live broadcasts, expert discussions, and public service adverts aimed at raising awareness about LGBTQ rights. BlueCity reinforces its commitment to diversity, having previously pledged 1 million yuan for HIV prevention efforts. With over 58 million registered users, BlueCity is a significant player in fostering LGBTQ connections across Asia.
BlueCity Holdings Limited (NASDAQ: BLCT) announced it will release its fourth quarter and full year 2020 unaudited financial results on March 23, 2021, before U.S. market opens. The management will host an earnings conference call at 8:00 AM ET on the same day, allowing investors to engage directly with the company. BlueCity operates an online LGBTQ platform with over 58 million registered users globally, offering services via its mobile app, Blued, and other brands, promoting community connections and wellbeing.
BlueCity CEO Baoli Ma and LESDO Founder Ze Ye were recognized in the Global Dating Insights Power Book 2021 for their contributions to the online dating industry. Ma highlighted 2020 as a pivotal year, marking BlueCity's historic NASDAQ listing and reporting its first profitable quarter. LESDO saw a significant 120% increase in user growth following its acquisition by BlueCity. Other notable figures in the industry were also acknowledged, emphasizing the growing influence of LGBTQ platforms in the market.
BlueCity has launched a new voice chat room feature on its Blued app in China, enhancing user engagement within the LGBTQ community. After successful trials in Japan and India, the feature supports real-time audio conversations and is categorized into various topics, catering to users' interests and anonymity needs. This development positions Blued as the world's first LGBTQ app to implement this functionality. With over 58 million registered users globally, BlueCity continues to innovate with features that foster connections and community interaction.
BlueCity Holdings Limited (NASDAQ: BLCT) has appointed Mr. Weiru Chen as an independent director, effective immediately, following the resignation of Mr. Zhe Wei. The Board remains comprised of five members, four of whom are independent. Mr. Chen, an associate professor at CEIBS, has extensive experience in corporate governance and strategic management, previously serving in executive roles at Alibaba Cainiao and other public companies. BlueCity is a leading online LGBTQ platform with over 58 million registered users, providing various services through its mobile app Blued.
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