Wen Tou Holdings plans to acquire nine stars, including Sun Li, of Hairun Film and Television, or become shareholders.

on September 9, Wen Tou Holdings issued a "Progress announcement on the Major Asset reorganization of Wen Tou Holdings Co., Ltd." saying that the assets to be purchased by the company's major asset restructuring are Hairun Film and Television production Co., Ltd. (hereinafter referred to as "Hairun Film and Television").

after the suspension of trading for 2 months, new progress has been made in the reorganization of Wentou Holdings. On September 9, Wen Tou Holdings issued a "Progress announcement on the Major assets reorganization of Wen Tou Holdings Co., Ltd." saying that the assets to be purchased by the company's major asset restructuring are Hairun Film and Television production Co., Ltd. (hereinafter referred to as "Hairun Film and Television").

in fact, Wentou Holdings has bound a large number of A-list stars. In 2015, Liaoning Automobile reorganized and acquired Yaolai Studios. At the renaming ceremony the following year, Jackie Chan, Feng Xiaogang, Zhang Guo, Li Bingbing, Huang Xiaoming, Zeng Zhiwei and Tang Jili attended the platform.

this time, Wen Tou Holdings plans to acquire Hairun Film and Television. If the acquisition is completed, nine stars, including actors Sun Li, Zhao Liying and Liu Shishi, will also be included in Wentou Holdings.

< strong > Wentou Holdings plans to close Hairun Movie < / strong >

< strong > bind Sun Li and other nine star shareholders < / strong >

data show that Wentou Holdings' predecessor is Songliao Automobile, a veteran state-owned enterprise that has repeatedly lost money and been repeatedly hooded since 2011. Taking advantage of the east wind of the cross-border cultural industry, Songliao Automobile was restructured in 2015, acquiring Yaolai Studios and Shanghai Dudu online through a private offering of shares.

at that time, Wen Investment Holdings said in the announcement: "Yaolai Cinema has the advantage of exclusive operation of the Jackie Chan brand in China, with a high starting point for film and television investment production and cultural and entertainment brokerage services, and has developed rapidly. Du play network has the strength to continuously launch successful products, and the layout of the business chain has been continuously improved in the field of web games and mobile games."

when talking about Jackie Chan and Yaolai culture, we have to mention its origin. In fact, Yaolai Group has exclusive Jackie Chan brand as early as 2010, and Jackie Chan has almost become the spokesman in the cultural field of Yaolai Group, which can be seen from the ubiquitous Yaolai Jackie Chan International Cinema.

it is understood that so far, Yaolai has built 25 Jackie Chan theme studios in 14 provinces and cities in China. In recent years, Yaolai Film and Television has invested in "the Lion", "the Zodiac", "the Revolution of 1911" and "Young soldiers", all of which are inseparable from Jackie Chan's help.

with the help of Jackie Chan's influence in the film and television industry, Yaolai Studios quickly gained a foothold in the industry. In 2016, Yaolai opened Dolby Cinema and won the exclusive distribution right of "I am not Pan Jinlian".

in April 2016, the parent company of Yaolai Studios officially changed its name to Wentou Holdings. At the renaming ceremony, Jackie Chan, Feng Xiaogang, Zhang Guoli, Li Bingbing, Huang Xiaoming, Zeng Zhiwei, Tang Jili and other seven performing arts celebrities stood on the platform.

A few days ago, Wen Tou Holdings announced that it intends to acquire Hairun Film and Television, and will bind Sun Li and other stars. Data show that the controlling shareholder and actual control of Hairun Film and Television is Liu Yanming. Hairun Film and Television was founded on April 6, 2001, the main business is TV series production.

Public information shows that stars such as actors Sun Li, Chen Yan, producer Wei Jian and screenwriter Shu Huan are all shareholders of Hairun Film and Television. Among them, Sun Li holds 2.37% of the shares of Hairun Film and Television.

the reporter found that in the past two years, Hairun Film and Television had many rounds of shareholder changes. Film and television actors Jiang Xin and Liu Hongyu, gold medal producer Zhao Junkai, and screenwriter Sun Yunting successively withdrew from the shareholder list. At the same time, actors Sun Li, Liu Shishi, Guo Tao, Zhao Liying, Gao Yunxiang, director Haiyan and screenwriter Shu Huan are among the shareholders of another film and television company controlled by Liu Yanming.

in other words, Hairun currently includes nine star shareholders.

< strong > Hairun Movie is valued at more than 4 billion yuan < / strong >

< strong > Sun Li can cash out nearly 100 million yuan < / strong >

in fact, as early as three years ago, Hairun Movie and Television planned to backdoor A, but things didn't work out.

in November 2016, Handing Yuyou, through a wholly-owned subsidiary, used its own funds of 103 million yuan to acquire 3.69 percent of the shares held by Zhao Zhijiang, Tang Fan and Jiang Xin. In other words, Hairun Film and Television was valued at 2.791 billion yuan at that time.

and what is the value of Hairun Movie and Television in this acquisition of Wentou Holdings? The company did not disclose it specifically. However, some analysts who spoke on condition of anonymity said in an interview that according to the "measures for the Management of Major restructuring of listed companies", as long as in 2016, Hairun Film and Television's total assets / net assets / operating income / net profit accounted for more than 50% of the total assets of Wen Tou Holdings, which constitutes a major restructuring. "in addition, if the net assets of Hairun Film and Television account for more than 50% of Wen Investment Holdings, it is also required that the net assets of Hairun Film and Television exceed 50 million yuan."

according to the 2016 annual report of Wentou Holdings, during the reporting period, the company realized operating income of 2.252 billion yuan, an increase of 193.66% over the same period last year, and a net profit of 601 million yuan, an increase of 336.15% over the same period last year. By the end of 2016, the net assets belonging to shareholders of listed companies were 4.525 billion yuan, with total assets of 7.336 billion yuan.

that is to say, in 2016, Hairun Pictures achieved an audited operating income of more than 1.126 billion yuan, or a net profit of more than 304.5 million yuan, or a net asset of more than 905 million yuan, or total assets of more than 3.668 billion yuan. Only if one of the above four conditions is met can this major restructuring be constituted.

according to the unaudited data disclosed by Handing Yuyou at the end of last year, as of September 30, 2016, Hairun Film and Television assets totaled 1.835 billion yuan, belonging to owners' equity totaling 1.232 billion yuan. In 2015, Hairun Film and Television achieved an operating income of 395 million yuan and a net profit of 18.6298 million yuan. In the first three quarters of 2016, Hairun Film and Television achieved an operating income of 269 million yuan and a net profit of 562500 yuan.

"according to this logic, the total assets, operating income, and net profit of Hairun Film and Television should not reach the threshold of major restructuring. Therefore, the net assets of Hairun Film and Television should exceed 900 million yuan. According to the value-added rate of the subject value of the recent restructuring of the film and television industry, it is conservatively estimated that the current valuation of Hairun Film and Television is at least 4 billion yuan." That's what the above-mentioned analyst said.

then, if the above transaction is successful, Sun Li's shares can be realized at least 94.8 million yuan.

Edit: mary