During the suspension period of Oriental Network, the underlying equity of the reorganization changed greatly, Xu Qing and other stars rushed to invest in shares

Dongfang Network's reorganization plan would have to wait for two months before it could be released. However, during the suspension period, its reorganization target changed its equity. Xu Qing, Jiang Qinqin, Chen Jianbin, Wang Xuebing and other stars rushed to invest in shares and entered the capital feast ahead of schedule.

Original title: Orient Network's reorganization target shares are moved. The reorganization plan of many stars rushing to invest in

Orient Network will have to wait for two months before it can be released. However, during the suspension period, its reorganization target shares have been moved. Xu Qing, Jiang Qinqin, Chen Jianbin, Wang Xuebing and other stars rushed to participate in the capital feast in advance. According to previous reorganization cases, changes in the equity of the subject matter of the reorganization during the suspension period will be the focus of supervision. For example, questions such as whether the stock prices of various stars and the reorganization valuation are consistent will surely become the key points of the exchange's post-event review.

Although Dongfang Network's reorganization plan will have to wait for two months before it can be released, for stars such as Xu Qing, Jiang Qinqin, Chen Jianbin, and Wang Xuebing, they have already entered the capital feast ahead of schedule by making sudden investments in the reorganization party during the suspension period. Behind this reorganization, a fund called Shenzhen New Vision also surfaced.

Dongfang

Network, which has suspended trading in Datengnuo, the subject of the reorganization, disclosed on September 5 that the company expects to disclose the reorganization plan on November 5. Currently, it has locked in the assets under the reorganization as Shandong Jiabo Chemical Development Co., Ltd.(referred to as "Jiabo Culture") and Shanghai Huahua Culture Media Co., Ltd.(referred to as "Huahua Culture"). The company plans to purchase the equity of the two companies by issuing shares and paying cash, and raise matching funds.

The reporter checked the industrial and commercial information and found that the registered capital of Jiabo Culture and Huahua Culture was 100 million yuan and 11.628 million yuan respectively. Neither of them had experienced three complete fiscal years and did not meet the conditions for reorganization and listing. Therefore, Dongfang Network particularly emphasized in its announcement that this transaction is not expected to lead to changes in the control of the listed company.

Jiabo Culture is mainly engaged in the production and investment of film and television works, and its controlling shareholder is Song Xianqiang. Song Xianqiang is a well-known producer in the industry. Chen Jianbin, who made a mark at the Golden Horse Awards, directed and starred in "One Spoon", was invested and produced by Jiabo Culture. During this summer's summer, Jiabo Culture is the producer of the youth films "There is Qiao Mu in Summer and Elegance in Paradise" and "To Youth 2: You Are Still Here" starring Wu Yifan.

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 increased their capital simultaneously 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 thing is the second equity change, which took place on May 25, when Dongfang Network had suspended trading in planning a major asset reorganization. In this change, Jiabo Culture's shareholders changed from 2 to 15. Judging from the information on the industrial and commercial change, the additional 13 people should have received part of the capital contribution from Song Xianqiang, corresponding to 500,000 yuan to 5 million yuan respectively. Registered capital varying from yuan. Among them, Wu Bang 5 million yuan, Xu Qing 2 million yuan, Chen Jianbin 1 million yuan, Liu Bin (actor/producer) and Wang Weimin (producer) each 500,000 yuan, while the shares of Wang Xuebing and Jiang Qinqin were not disclosed. In addition to Chen Jianbin who had previously appeared on the shareholder list of Datang Glory, the target of Zhongnan Heavy Industry's reorganization, 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 the capital contribution of some stars is, the capital premium given by the reorganization is undoubtedly expected.

Behind-the-scenes funds surfaced.

Jiabo Culture's third equity change pushed one of the behind-the-scenes funds of this reorganization to the forefront. On June 2, Chen Xiao, the former shareholder of Jiabo Culture, transferred all his shareholding to Shenzhen New Vision Hongfu Investment Fund Partnership (referred to as "Shenzhen New Vision"), which became the second largest shareholder of Jiabo Culture.

The reporter's investigation found that Shenzhen New Vision was just established in October last year and currently has four investors. Chen Jiansheng, the former legal representative of Jiabo Culture, is one of the LPs. The most recent partner change of Shenzhen New Vision was on June 23. Boshi Capital Management Co., Ltd. became a new LP, and the total fund share increased from 151 million yuan to 376 million yuan. The fund's managing partner (GP) at the beginning of this year was Shenzhen New Vision Investment Management Co., Ltd., and later, after two changes, it became the current Shenzhen Beichen Asset Management Company.

Further review of 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's more interesting is that Shenzhen New Vision happened to appear on the shareholder list of Huahua Culture, another target of Dongfang Network's reorganization.

Huahua Culture was established in March 2014. Its main business is film investment, production, promotion and distribution. It has promoted, marketed or assisted in the distribution of many overseas blockbusters, such as "Transformers 4","Mission Impossible 5" and "007: Ghost Party", etc. On January 15 this year, the registered capital of Huahua Culture increased from 10 million yuan to 11.628 million yuan, and one new shareholder was added-Shenzhen New Vision Investment Management Co., Ltd. Also on May 25, Shenzhen New Vision replaced Shenzhen New Vision Investment Management Co., Ltd. as a shareholder of Huahua Culture.

In fact, before Huahua Culture became the target of Oriental Network's reorganization, the two companies had already had some cooperation. On July 28 last year, Zhonghui Huashang (Beijing) Cultural Communication Co., Ltd., a wholly-owned subsidiary of Orient Network, signed a strategic cooperation agreement with Huahua Culture to realize the future market expansion strategies of both parties and gain market share. On August 25 this year, Dongfang Network and Huahua Culture signed an agreement to obtain the information network dissemination rights and television broadcasting rights granted by Huahua Culture's "Song of the Ocean" for no more than 4 million yuan.

According to previous reorganization cases, changes in the equity of the subject matter of reorganization during the suspension period will be the focus of supervision. Jiabo Culture experienced a major change in its equity during the suspension of Orient Network. In particular, a group of stars rushed to invest in shares. Questions such as whether its price and restructuring valuation are consistent will be announced after the reorganization plan is announced, and these will inevitably become the key points of the exchange's post-event review.

Editor: Nancy