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Several ByteDance subsidiaries have been renamed, rekindling speculation that the decade-old unicorn is mulling plans to float shares in Hong Kong. Photo: AP Photo
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TikTok owner ByteDance renames some subsidiaries, reviving speculation of Hong Kong IPO

  • ‘Douyin’ is now part of the names of several ByteDance subsidiaries, including one in Hong Kong, a major IPO venue for mainland Chinese companies
  • ByteDance last month appointed a veteran corporate lawyer with experience in Chinese tech IPOs as its chief financial officer
ByteDance
Iris Deng
Iris Dengin Shenzhen
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ByteDance, the Chinese owner of TikTok, has added “Douyin” to the name of several subsidiaries, including one based in Hong Kong, where the unicorn was reportedly considering to float part of its business before it was put on hold amid regulatory uncertainties.

ByteDance (Hong Kong) Limited, a legal entity established in 2012 under its Beijing-based parent, was renamed Douyin Group (Hong Kong) Limited with effect on May 6, according to information found on the Companies Registry of Hong Kong. Douyin is the name of the Chinese version of popular short-video app TikTok.

Some other entities under ByteDance have also been renamed, according to China’s National Enterprise Credit Information Publicity System. Beijing ByteDance Technology Limited, founded in 2012, is now Beijing Douyin Information Service Limited, while ByteDance Limited, established in 2016, became Douyin Limited this month, according to Tianyancha, which tracks local business registrations.

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The changes, first reported by Chinese media outlet Jiemian, have renewed speculation that ByteDance is planning an initial public offering for Douyin, as separating Douyin’s operation in China from the overseas business of TikTok is seen as a precondition for such a move.

The decade-old start-up was previously said to be mulling an initial public offering (IPO) of Douyin in Hong Kong, Reuters reported in 2020 and 2021. However, the IPO was put on hold until at least late 2022, after Beijing tightened regulatory scrutiny on the tech industry and imposed strict cybersecurity vetting for offshore listings, the South China Morning Post reported in October.

ByteDance denied last year that it had any IPO plans. It declined to comment on Sunday on whether it is currently planning a public listing.

ByteDance last month appointed veteran corporate lawyer Julie Gao as chief financial officer. She has advised many Chinese technology companies on public listings and other transactions.
In November, ByteDance announced a sweeping reorganisation that would see its sprawling, algorithm-driven operations divided into six business groups – with TikTok and Douyin being two separate units – as the firm navigates the regulatory demands at home and in the US.
Douyin, which works similarly to TikTok, is one of the most popular apps in China, with more than 600 million daily active users. It competes mainly with Kuaishou, a rival backed by Tencent Holdings, but recent expansion into the e-commerce sector has put Douyin in direct competition against JD.com, Pinduoduo and Alibaba Group Holding, owner of the Post.
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