Huace Film and Television plans to increase capital by 6.4 million yuan, and will be valued at 80 million yuan after the pre-A round of financing is completed

Huace Film and Television announced on March 23 that the company plans to increase its capital to Rewave Technology with its own funds of 6.4 million yuan. After the capital increase is completed, the company will hold 8.60% equity in Rewave Technology. According to the agreement, Huace Film and Television and Thermal Wave Technology will cooperate to shoot no less than 10 films and television content in the next three years. At the same time, the two parties will jointly explore business model innovation in the field of virtual content around Huace's IP resources and artist resources.

Virtual reality has once again become a "hot spot". After Enlight Media, another listed film and television company plans to deploy virtual reality.

Huace Film and Television announced on the 23rd that it has recently signed a capital increase agreement with Rebo (Beijing) Network Technology Co., Ltd.(hereinafter referred to as "Rebo Technology") and its original shareholders. The company plans to use its own funds of 6.4 million yuan to Rebo Technology. Increase capital, and after the capital increase is completed, the company holds 8.60% equity of Rebo Technology.

According to media reports, after the news was released, Heat Wave Technology founder Zhang Qinghao immediately said in an interview with reporters that this investment is Heat Wave Technology's pre-A round of financing, and the company's latest valuation is 80 million yuan.

According to reports, Heat Wave Technology was established in September 2015. It is one of the earliest companies in China specializing in VR panoramic video film and television program production. In October 2015, it received capital injection from Gaowei Innovation Capital and began to produce VR film and television content on a large scale. The main business is virtual reality video production and production, virtual reality content distribution and operation. The product model includes: virtual reality content production and cooperative production. The company is currently in its infancy and has not yet generated profits or stable cash flow. According to Rewave Technology's strategic business plan, it is expected to achieve business income of approximately 8 million yuan in 2016.

"Huace Film and Television has rich IP and excellent content creation capabilities. In this round of investment in Heat Wave Technology, the two sides are more of a strategic cooperation." Zhang Qinghao said that Huace Film and Television will bring a better content development path to Hot Wave Technology.

Zhang Qinghao said that in the future, the company will mainly focus on the IP creation and video distribution platform "VR hit"."This time, combined with Huace Film and Television can enhance the company's content production capabilities."

Zhang Qinghao introduced that the Heat Wave Technology product model includes two parts: virtual reality content production and cooperative production. Currently, the original productions include: China's first VR indoor sitcom "Astrology Apartment"; China's first VR escort experience drama "Walking Pheromone"; China's first Ghost perspective drama "12 Hours with the Goddess" combining VR and Gesture Recognition, and co-produced 60 pioneering dramas (copyright belongs to Heat Wave Technology). Content distribution platforms include VR video vertical distribution platforms and "VR hits".

It is reported that the core management personnel of Thermal Wave Technology are from CCTV and CNTV. Founder Zhang Qinghao was the copyright director of CNTV Internet TV and former commercial director of SMG BesTV; co-founder Chang Luyang was the director of CCTV and the director and director of Hong Kong Satellite TV. The main planner and director of China's first 360-degree panoramic live reality show "Fifteen of Us"; co-founder Wei Ming served as CNTV Internet TV project director and former BesTV product director. Huace Film and Television is interested in its technological advantages, market share in the field of VR content production, future long-term layout in the field of VR content copyright, and future synergy with the company.

On March 8, Huace increased its capital to the AR/VR digital multimedia product production company "Lanting Digital" with 14.7 million yuan. According to public information, after the completion of this investment, Huace Film and Television will hold a 7% stake in Lanting Digital. Huace said that the company is the first among film and television companies to join hands with Lanting Digital to test VR variety shows, which reflects the company's deep understanding of the application of VR in the field of pan-entertainment and its far-sighted layout in this blue ocean market. Through equity binding, Huace's super IP and content accumulation are seamlessly connected with Lanting Digital's VR technology. It is expected to further in-depth cooperation in channels and business, and to tap the dividends of traffic management and fan economy in the long term.

This increase in the VR field, Huace said that this investment is another important layout in the company's long-term strategic goal of becoming a "world-class comprehensive entertainment media group in the Internet era." As virtual reality technology continues to mature, integration with film and television entertainment is an inevitable trend. Virtual reality technology has brought new forms of expression and interaction to content, which will lead to changes in narrative methods and expression techniques, and is expected to create new content for the film and television industry. form. Getting involved in the virtual reality field is the company's long-standing plan. The company will actively utilize the advantages of industrial platforms, lay out advanced technology fields, and lead content innovation.

According to the agreement, Huace Film and Television and Heat Wave Technology will cooperate to shoot no less than 10 films and television content (including but not limited to full-network dramas, movies, and programs) in the next three years. At the same time, the two sides will jointly explore business model innovation in the field of virtual content around Huace's IP resources and artist resources.

Wang Cong, vice president and chief strategy officer of Huace Group, told reporters that the value chain of the VR industry urgently needs rich content to carry. The cooperation between Huace and Rewave will interpret the broad value space of "SIP+VR", and will be based on new content forms, new business models and new consumption scenarios.

Industry insiders pointed out that Huace Entertainment Technology and multiple Huace variety shows both feature "Idol +", and Huace's rich artist resources have a strong fit with VR. In addition, around Huace's full-network drama project, both parties can further promote new gameplay in the new VR context,"exploring the feasibility of more VR peripherals with SIP as the core."

It is worth noting that Huace Film and Television recently announced another investment. The company acquired 0.53% equity of Wanda Film and Television for 84.63 million yuan. At the same time, it signed a capital increase agreement with Qingdao Wanda Film and Television Investment and Beijing Wanda Investment, and invested 115 million yuan in Qingdao Wanda Film and Television Investment increased its capital, and held 0.61% equity of Qingdao Wanda Film and Television after the capital increase was completed.

Yien. com compiled and released it based on reports from "China Securities Journal","Daily Economic News" and Qingting. com

Editor: vian