Broker Name: Lim & Tan Securities
Date of Report: 10 October 2025
Excerpt from Lim & Tan Securities report.
Report Summary
- 17LIVE, a live-streaming platform focused on Japan and Taiwan, is the first de-SPAC listed on the Singapore Exchange, with its share price recovering from historic lows in 2024 but still below its SPAC IPO price.
- The company recently returned to revenue growth and operational profitability in 2Q2025, has begun interim dividends and share buybacks, and is backed by a strong net cash position with almost zero debt.
- 17LIVE’s strategy emphasizes strengthening its core business, diversifying revenue (including expansion into V-Liver streaming and e-commerce), and forming strategic partnerships.
- Removing streamer exclusivity clauses and hosting more offline events have started to yield improved engagement and financial results.
- Major shareholders include Temasek Holdings (26.6%) and Aika Tong (14.6%), and the company has been actively buying back shares since Dec 2024.
- Key risks involve foreign exchange exposure (mainly to JPY and TWD) and intense competition from platforms like TikTok and YouTube.
Above is an excerpt from a report by Lim & Tan Securities. Clients of Lim & Tan Securities can be the first to access the full report from the Lim & Tan Securities website: https://www.limtan.com.sg
