Perfect Global suspended trading, planned asset purchase, and created a "global IP factory" strategy

Perfect Global Entertainment Co., Ltd. issued multiple announcements in succession yesterday evening, involving subsidiaries joining forces with Gefei Assets to establish a 2 billion pan-entertainment M & A fund, suspension of the company, and use of idle raised funds to purchase wealth management products.

Original title: Perfect Global issued an announcement: It involved the establishment of M & A funds, suspension of trading and purchase of wealth management products

Perfect Global Entertainment Co., Ltd.(hereinafter referred to as "Perfect Global") issued multiple announcements in succession yesterday evening, involving the establishment of subsidiaries in conjunction with Gefei Assets with a scale of 2 billion pan-entertainment M & A funds, the company's suspension and the use of idle raised funds to purchase wealth management products.

Shihezi City Haoyu Equity Investment Management Co., Ltd., a wholly-owned subsidiary of Perfect Global, and Chongqing Junsi Enterprise Management Consulting Co., Ltd., a wholly-owned subsidiary of Perfect Global, jointly established Shihezi City Junyi Yunyang Equity Investment Limited Partnership. The total scale of Junyi Yunyang is 2 billion yuan, and Chongqing Junsi subscribes about 500 million yuan for all inferior shares. The investment funds for this time come from the listed company's own funds.

The announcement shows that Jun Yi Yunyang will focus on high-quality target companies and project investment opportunities in the pan-entertainment field. Junyi Yunyang has a total scale of 2 billion yuan, of which the inferior share is about 500 million yuan and the priority share is about 1.5 billion yuan. Chongqing Junsi subscribed for all inferior shares, and Gefei Asset Management initiated funds subscribed for all priority shares. According to the agreement, some lower-level partners in the future fund's excess returns will receive the highest proportional distribution.

Perfect Global stated that the establishment of Junyi Yunyang will serve the company's overall strategy of building a "global IP factory" and further implement the matrix layout of the pan-entertainment and cultural industry; at the same time, it will use professional investment teams and financing channels to amplify investment through various financial instruments and means. Ability to reserve more M & A targets for the company's future development and seize market development opportunities. Through M & A funds to obtain funds, supplement the sources of funds, expand the tension of company capital decision-making in foreign investment, optimize the company's capital structure, and improve the efficiency of company capital use.

Perfect Global has previously established a multi-term M & A investment fund to improve its product business line through "endogenous + extension". The company has currently established a film and television investment fund, mainly focusing on overseas film and television production and domestic innovative hot business formats. Investment methods include direct equity, project investment, etc. The investment fund will be divided into two partnership funds, of which no less than 2/3 of the total raised funds will be divided into a "film and television investment fund" to mainly participate in domestic and overseas investment in the field of film and television production; no more than 1/3 of the total raised funds will be used for "equity investment fund""It is mainly responsible for VC and PE equity investment and mergers and acquisitions related to the upstream and downstream film and television industry chain.

At the same time, Perfect Global said it is planning to purchase assets, and the matter is currently being studied and demonstrated. In order to safeguard the interests of investors, the company will suspend trading since July 5, 2016. The company expects to resume trading after disclosing relevant matters within 10 trading days, or if relevant matters are demonstrated to be material asset reorganization matters, they will be transferred to material asset reorganization procedures.

In addition, Perfect Global also issued an announcement stating that in order to improve the efficiency of the use of the company's raised funds and increase the company's revenue, it agreed that the company should use temporarily idle raised funds of no more than RMB 4 billion to purchase banks with high security, good liquidity, and guaranteed capital. Financial products, within the above amount, funds can be used rolling during the validity period of the resolution.

Perfect Global stated that the company has non-publicly issued 212,463,532 RMB ordinary shares (A shares) to four specific targets, with a par value of RMB 1 each, and an issue price of 23.53345 yuan/share. The total amount of funds raised is 5 billion yuan. After deducting issuance expenses of 48,825,686.35 yuan, the actual amount raised is 4,951,174,313.65 yuan. As of now, all the above raised funds have been deposited in the company's raised funds account.

The detailed announcement of the funds raised by Perfect Global Entertainment Co., Ltd.

shows that the funds raised by Perfect Global will be used for film and television drama investment projects, game R & D, operation and agency projects, multi-terminal game intelligent distribution platform, repayment of bank loans and Supplementary working capital, involving amounts of 1.6 billion yuan, 1.2 billion yuan, 800 million yuan, and 600 million yuan respectively, totaling 5 billion yuan.

However, because the fundraising projects mainly involve the company's future investment in film, television and game projects, they need to be gradually invested in stages and projects, resulting in the temporary idle situation of the raised funds that have not been put into use as planned.

To this end, Perfect Global plans to use idle raised funds of no more than 4 billion yuan to invest in principal-guaranteed bank wealth management products. The above amount can be used on a rolling basis during the investment period. According to the announcement, Perfect Global's 4 billion yuan of idle raised funds will be invested in stable, low-risk, high-liquidity wealth management products within 12 months. The company uses idle raised funds to only invest in principal-guaranteed wealth management products, not for other securities investments, nor does it purchase bank wealth management products with stocks, their derivatives, and unsecured bonds as investment targets.

[Original announcement]

Perfect Global: Announcement on suspension of planning asset purchases

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Perfect Global: Announcement on using idle raised funds to purchase wealth management products

Editor: yvette