During the suspension period of Dongfang Network, the shares of the subject matter of the reorganization changed greatly, and stars such as Xu Qing stormed into the shares.
the restructuring plan of Oriental Network will have to wait two months before it can be issued, but during the suspension period, the equity of its restructuring target has been transferred, and a number of stars, such as Xu Qing, Jiang Qinqin, Chen Jianbin, Wang Xuebing, and so on, have stormed into shares and joined the capital feast ahead of time.
original title: equity mobility of Oriental Network restructuring
the restructuring plan of Oriental Network will wait two months before it can be issued, but during the suspension period, the equity of its restructuring target has been vacated. Xu Qing, Jiang Qinqin, Chen Jianbin, Wang Xuebing and other stars surprise shares and join the capital feast ahead of time. According to previous restructuring cases, the equity change of the subject matter of the restructuring during the suspension period will be the focus of supervision. For example, questions such as whether the purchase price of the stars and the valuation of the restructuring are consistent are bound to become the focus of the exchange's post-mortem review.
although the reorganization plan of Dongfang Network will have to wait two months before it can be issued, for stars such as Xu Qing, Jiang Qinqin, Chen Jianbin, Wang Xuebing, and so on, they have joined the capital feast ahead of schedule through the surprise purchase of shares by the reorganizers during the suspension period. Behind this restructuring, a fund called Shenzhen New Horizon has also surfaced.
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/ strong > Oriental Network, which has been suspended for four months, disclosed on Sept. 5 that the company expects to disclose the restructuring plan on November 5. The assets that have been targeted for restructuring are Shandong Jiabo Culture Development Co., Ltd. (referred to as "Jiabo Culture") and Shanghai Huahua Culture Media Co., Ltd. (referred to as "Hua Hua Culture"). The company intends to purchase the shares of the two companies by issuing shares and paying cash, and raise supporting funds.the reporter consulted the industrial and commercial information and found that the registered capital of Jiabo Culture and Hua Hua Culture is 100 million yuan and 11.628 million yuan respectively, neither of which has experienced three complete fiscal years and does not meet the conditions for restructuring and listing. Therefore, Oriental Network particularly stressed in the announcement that this transaction is not expected to lead to a change in the control of listed companies.
Jiabo Culture is mainly engaged in the production and investment of film and television works, and the controlling shareholder is Song Xianqiang. Song Xianqiang is a well-known producer in the industry. Chen Jianbin's "A Spoon", which stood out at the Golden Horse Awards, was produced by Jiabo Culture. This summer, Wu Yifan starred in the youth films "Summer Arbor Yawang Paradise" and "to Youth 2: so you are still here", Jiabo Culture is the production side.
since the beginning of this year, Jiabo Culture has made three equity changes. On March 18, the company's registered capital increased from 50.31 million yuan to 100 million yuan. Shareholders Song Xianqiang and Chen Xiao simultaneously increased their capital according to the original capital contribution ratio, with a shareholding ratio of 70% and 30% respectively. At the same time, the company's legal representative was changed from Chen Jiansheng to Song Xianqiang.
the most noteworthy is the second equity change, which was on May 25, when Oriental Network had suspended trading to plan a major asset restructuring. In this change, the shareholders of Jiabo Culture have changed from 2 to 15. From the information of industrial and commercial changes, the 13 additional people should have received part of the capital contribution from Song Xianqiang, corresponding to registered capital ranging from 500000 yuan to 5 million yuan respectively. Of this amount, Wu Bang 5 million yuan, Xu Qing 2 million yuan, Chen Jianbin 1 million yuan, Liu Bin (actor / producer) and Wang Weimin (producer) each 500000 yuan, while the shares of Wang Xuebing and Jiang Qinqin were not disclosed. In addition to Chen Jianbin's previous appearance in the Datang brilliant shareholder list of Zhongnan heavy Industry, Xu Qing, Wang Xuebing and Jiang Qinqin all appeared in the capital market for the first time in this way. Although it is not clear how much some stars will contribute, the capital premium given by the restructuring is undoubtedly to be expected.
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the third equity change of Garbo Culture pushed a behind-the-scenes fund of this restructuring to the foreground. On June 2, Chen Xiao, the former shareholder of Jiabo Culture, transferred all his shares to Shenzhen New Horizon Investment Fund Partnership (referred to as "Shenzhen New Vision"), which became the second largest shareholder of Jiabo Culture.
the reporter found that Shenzhen New Horizon was just established in October last year. At present, there are four investors. Chen Jiansheng, the former legal representative of Jiabo Culture, is one of the LP. The last partner change in Shenzhen New Vision was on June 23, when Boshi Capital Management Co., Ltd. became a new LP, and the total share of the fund increased from 151 million yuan to 376 million yuan. The managing partner (GP) of the fund at the beginning of this year was Shenzhen New Vision Investment Management Co., Ltd., which later became the current Shenzhen Beichen Asset Management Company after two changes.
to further check the public information, Shenzhen New Vision Investment Management Co., Ltd. was established on December 9, 2015, with a registered capital of 5 million yuan. Chen Jiansheng and Chen Xiao hold 80% and 20% of the shares respectively.
what is more interesting is that Shenzhen's New Horizon happens to appear on the shareholder list of Huahua Culture, another subject of the reorganization of Oriental Network.
Hua Hua Culture, founded in March 2014, is mainly engaged in film investment, production, publicity and distribution, and has promoted and marketed or helped distribute many overseas blockbusters, such as Transformers 4, Mission impossible 5 and 007: the Ghost Party. On January 15 this year, the registered capital of Hua Hua Culture increased from 10 million yuan to 11.628 million yuan, with a new shareholder-Shenzhen New Vision Investment Management Co., Ltd. Also on May 25, Shenzhen New Horizon replaced Shenzhen New Vision Investment Management Co., Ltd. as the shareholder of Huahua Culture.
in fact, the two companies had already had some cooperation before Hua Hua Culture became the target of oriental network restructuring. On July 28 last year, Zhonghui Huashang (Beijing) Culture Communication Co., Ltd., a wholly-owned subsidiary of Oriental Network, signed a strategic cooperation agreement with Hua Hua Culture, in order to realize the future market expansion strategy of both sides and gain market share. On August 25 this year, Oriental Network and Hua Hua Culture signed an agreement to obtain the right of information network dissemination and television broadcast granted by Hua Hua Culture's "Song of the Ocean" for no more than 4 million yuan.
according to previous restructuring cases, the change of equity of the subject matter of restructuring during the suspension period will be the focus of supervision. Jiabo Culture during the suspension of Oriental Network shares, especially a number of stars surprise shares, whether the price and restructuring valuation are consistent, will be announced after the announcement of the restructuring plan, and these are bound to become the main points of the exchange's ex post review.
Edit: nancy