Creates Withdraws IPO... "Will Be Reassessed Based on AI New Business Performance"

Creates announced on the 21st through a public disclosure that it will withdraw its listing through a merger with NH SPAC 20. This decision was made based on the expectation of dramatic performance growth through ultra-fast growth in the U.S. market and the launch of AI-based new businesses, with the judgment that it can increase market value in the future.

During the listing process, Creates received positive evaluations from analysts and institutional investors regarding growth potential in the U.S. market, technological capabilities, and AI-based next-generation growth engines. However, during the SPAC merger promotion period, there were limitations in making investors broadly recognize key value points and core competencies such as dominant market position in the U.S., industry-leading image and video processing technology. The company explained that it decided to prove its value through performance and receive market re-evaluation.

A Creates representative emphasized, “Following a 70% sales growth rate last year in the U.S., the world’s largest golf market, we expect over 50% performance growth this year as well. We will lead market innovation by launching the industry’s first edge AI-based product line in the global launch monitor industry in the first half of the year.”

He added, “With the rapid growth of the off-course golf market based on launch monitors, such as the TGL scheduled to launch next year, we believe our performance growth momentum, having secured a solid market position locally, will gain further traction. Based on brand awareness in the U.S., results from new sales bases in Europe, Japan, and other regions will also become visible.”

Next year, the indoor golf league TGL, led by Tiger Woods and Rory McIlroy, is scheduled to launch. It is a format where the top PGA players compete using golf simulators in large stadiums that accommodate massive audiences. The fast pace and high concentration make it highly entertaining. Industry experts predict that the launch of TGL will act as an explosive growth driver not only in the U.S. but also in the global golf launch monitor market.

Creates is standing out in the U.S. market, with 58% of its total sales last year generated in the U.S. Its brand awareness is also high, with its own brand ‘UNEEKOR’ being called one of the top three brands in the U.S. launch monitor market.