July 1, 2022

As soon as ByteDance established Douyin Workforce (HK) Restricted as a separate entity, rumors started to swirl a few possible public list at the Hong Kong Inventory Alternate. In regards to the imaginable list, a spokesman for Douyin spoke back to home media that the corporate “refused to remark.”

On Sunday, the Corporations Registry (Hong Kong) website online confirmed that Bytedance (HK) Restricted has modified its identify to Douyin Workforce (HK) Restricted, which took impact on Would possibly 6, 2022.

As well as, a number of different corporations underneath ByteDance have additionally modified their names to “Douyin”. In keeping with Tianyancha, a Chinese language industrial inquiry platform, ByteDance Ltd. was once renamed Douyin Ltd. In keeping with China’s Nationwide Endeavor Credit score Knowledge Exposure Gadget, Beijing ByteDance Generation Co., Ltd. was once not too long ago renamed to Beijing Douyin Knowledge Provider Co., Ltd..

Those strikes are believed to be a part of a much broader effort to independelty record its home companies together with Douyin in Hong Kong as Douyin Workforce.

Previous on April 25 this 12 months, ByteDance appointed Julie Gao from global legislation company Skadden as its new leader monetary officer (CFO). In keeping with the scoop liberate, Gao has equipped criminal services and products for the list of greater than 100 corporations and different capital marketplace financing initiatives, together with Meituan, JD.com, Pinduoduo, and Xiaomi. The advent of Gao as CFO is thought of as as a sign for ByteDance to restart its list procedure.

SEE ALSO: ByteDance Appoints Legal professional Julie Gao as New Leader Monetary Officer

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Douyin is ByteDance’s maximum widely recognized product, and its world model is TikTok. Up to now, the choice of day-to-day energetic customers on Douyin has exceeded 600 million.

In November closing 12 months, Liang Rubo, CEO of ByteDance, introduced the established order of six trade gadgets, specifically Douyin, Dali Schooling, Feishu (Lark), Volcengine, Nuverse and TikTok. The Douyin trade unit is liable for the whole building of the corporate’s home knowledge and repair trade, together with Douyin, Toutiao, Xigua Video, seek, encyclopedia and different vertical companies. Amongst them, Douyin and Toutiao, the 2 core merchandise, contributed maximum of ByteDance’s income in China.