Zhonghui Film and Television issued an announcement to end the one-year plan of debt-to-equity swap for Panax notoginseng.

Zhonghui Film and Television, a company listed on the new third board, recently announced the termination of its stock offering plan, canceling the debt-to-equity swap plan that has been planned for a year.

original title: planning for Zhonghui Film and Television's debt-to-equity swap plan of nearly 300 million yuan fell through in one year

Zhonghui Film and Television, an enterprise listed on the new third board, recently announced the termination of its stock offering plan, canceling the debt-to-equity swap plan that has been planned for a year. It is understood that the financing plan is based on the listed company Wuhu Shunrong Sanqi Mutual Entertainment Network Technology Co., Ltd., which is intended to issue shares with 299 million debt.

it is understood that on May 26, 2016, Zhonghui Film and Television signed an "agreement" with the listed company Panax notoginseng for mutual entertainment. The content shows that Sanqi Mutual Entertainment provides a loan of 300 million yuan to Zhonghui Film and Television.

half a year later, Zhonghui Film and Television issued 17.6056 million shares to Panax Notoginseng Mutual Entertainment at a price of 17.04 yuan per share on December 9, 2016 in order to reduce the pressure on the company's debt.

on January 25, 2017, Zhonghui Film and Television issued an announcement to adjust the distribution plan. The number of shares issued was reduced to 17.5176 million yuan, and the assets used by Panax Notoginseng Mutual Entertainment to subscribe for shares were also adjusted to hold the debt of Zhonghui Film and Television 299 million yuan.

with regard to the reasons for the downward adjustment, Zhonghui Film and Television shows that according to the original "stock issuance plan", Sanqi Muyu will become the largest shareholder of the company after the completion of the stock offering. As Sanqi Mutual Entertainment does not plan to control the company, in order to maintain Ms. Sun Lili's status as the actual controller and ensure the sustained and stable development of the company, the stock issuance plan has been adjusted. After the adjustment, Sun Lili is still the largest shareholder and actual controller of Zhonghui Film and Television.

until November 28, 2017, Zhonghui Film and Television once again issued a notice saying that after friendly consultation between the two sides, Zhonghui Film and Television decided to stop issuing 17.5176 million shares to Sanqi Mutual Entertainment. At this point, Zhonghui Film and Television's one-year debt-to-equity swap plan "fell through".

according to data, Zhonghui Film and Television is mainly engaged in the investment, production and distribution of domestic and foreign films and TV dramas, while creating an interactive entertainment company driven by super content, with IP writer brokerage, IP copyright trading, IP content value-added services as the core, and young users under the age of 25 as the main service objects.

Edit: mary