(Yicai Global) July 1 -- China's BabyBus, which develops children's YouTube songs with characters such as Kiki and Miumiu, is aiming to raise CNY1.85 billion (USD286.3 million) by going public on Shenzhen's ChiNext board.

The creator of games and videos would use the initial public offering proceeds for research and development, new products and merchandise such as toys, the Fujian province-based firm said in its prospectus filed yesterday.

BabyBus has published more than 200 mobile applications with 99 million monthly active users around the world. It also has 136 million YouTube subscribers. Most of the company's revenue comes from advertising on Baidu and Google. Moreover, it authorizes Chinese video platforms such as iQiyi, and Tencent Video to show its content. Some of the content is paid. 

Last year, BabyBus' revenue rose 23 percent to CNY649 million (USD100.5 million) from 2019. However, its net profit fell 2 percent to CNY261 million. Ad revenue has made up more than 70 percent of its total in the three past years.

Editor: Emmi Laine, Xiao Yi