KKBOX parent KKTech-KY is back after a failed listing bid in 2024, this time starting on the emerging stock board and with a sharply reduced subscription price — a lower-threshold but still unproven proposition for investors.

• KKTech-KY (6950) has announced it will register on the emerging stock board on Aug 31, its second attempt after the unsuccessful 2024 listing.
• The subscription price is far lower than last time, with the company switching to an "emerging board first, then main listing" route and adjusting how it communicates with underwriters and the capital markets.
• Following deep integration with PressPlay, its business has expanded from music streaming into knowledge-based learning and the creator economy; PressPlay is already profitable.
• The group has more than 30 million members and 5 million paying active users, who contribute about 70% of recurring revenue; overseas markets — chiefly Japan — already account for 44% of revenue.
• It is betting on AI multimodal technology and first-party user data, targeting Asia's creator economy, a market estimated at close to NT$1 trillion.

Outlook: the trading price after the emerging board debut will be a direct test of whether the market buys this AI-plus-creator-economy story, and will also affect the timetable for a formal listing.