Broker Name: Lim & Tan Securities
Date of Report: 10 October 2025
Excerpt from Lim & Tan Securities report.
Report Summary
- 17LIVE, a leading live-streaming platform in Japan and Taiwan, is the first and only de-SPAC on the Singapore Exchange, with its main businesses including live-streaming, V-Liver (virtual avatars), and new ventures into e-commerce and offline events.
- The company has shown early signs of recovery, returning to revenue growth and operating profits in its most recent quarter, supported by a strong net cash position, ongoing share buybacks, and the recent declaration of an interim dividend, reflecting management’s confidence in future growth.
- Key strategies include strengthening its core business, diversifying revenue streams (such as e-commerce and virtual gifting), expanding in the V-Liver sector through acquisitions, and leveraging physical events to boost engagement and top-line growth.
- Major shareholders include Temasek Holdings (26.6%) and Aika Tong (14.6%), and the company has bought back 2.9% of its shares outstanding since late 2024, providing potential share price support.
- Risks to 17LIVE include foreign exchange fluctuations (as most revenue comes from Japan and Taiwan) and heightened competition from larger platforms like TikTok and YouTube, though recent removal of exclusivity clauses and increased collaborations aim to retain and attract streamers.
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
