Sing! CEO Chen Hua made the word that the investor Hualian shares denied the goal of becoming a shell

In fact, there are signs of singing bar's move to the domestic capital market. However, whether this market is a question of whether the new three boards or A-shares.

Recently, news that Sing Bar plans to shell A-shares spread throughout the Internet circle due to a message from Chen Hua, CEO of Sing Bar Chen Hua, in the circle of friends requesting to recommend A-share shell companies. In fact, there are signs of singing bar's move to the domestic capital market. However, whether this market is a question of whether the new three boards or A-shares.

During the exchange between reporters and Chen Hua, Chen Hua himself did not seem to make up his mind, only saying: "All possibilities are at stake." Chen Hua did not explicitly deny the rumors that the backdoor target of Sing Bar may be its investor Hualian Shares.

Different from Chen Hua's ambiguous attitude, the relevant person in charge of Hualian shares directly denied the above news when responding to reporters.

Chen Hua, CEO of Sing Bar, said that

"all possibilities are on the table."

Chen Hua, CEO of Sing Bar, said in a circle of friends,"Who knows a good A-share shell company to recommend it?" The news that Chen Hua is preparing to abandon the U.S. listing and shift its listing target to A-shares is rampant.

In this regard, the reporter contacted Chen Hua himself. Chen Hua did not deny the shell A shares. He replied that "all possibilities are at stake, and it would be good to chat with them if there was a suitable shell."

It is understood that Chen Hua's transition to the A-share market has long been followed. In August this year, Sing Bar began to dismantle the VIE structure and appointed Yu Ming, the former managing director of Jiuding Investment, as the company's director and CFO, which temporarily triggered the industry's idea that Sing Bar would land on the New Third Board.

It is worth noting that Yu Ming has participated in the listing planning and preparation of KTV companies such as Windsor and True Love, and is also responsible for the preparation of Jiuding's first New Third Board Fund.

After the two major actions of dismantling the VIE and appointing Yu Ming were implemented, the listing of Sing Bar has also attracted more attention. However, judging from Chen Hua's exchanges with reporters, Sing Bar is making two-pronged preparations, not only looking for suitable shell resources, but also not giving up the opportunity of the New Third Board.

Data shows that Sing Bar was established in 2011. In December of the same year, it received multimillion-dollar Series A financing from Lanchi Venture Capital; in January 2013, it received US$15 million in Series B financing from Sequoia Capital; and in March 2014, it received Series C financing led by CITIC Industrial Fund. Before founding Sing Bar, the company's founder Chen Hua founded Kuxun, worked for Microsoft and Ali, and has rich Internet experience.

It is understood that Sing Bar currently owns Sing Bar APP, Sing Bar live broadcast room, Sing Bar microphone and other products, as well as the Sing Bar Mai Song KTV business in a physical store. Some entrepreneurs told reporters that Sing Bar is a voice-based social product and a unique market. At least, it is different from Weibo and QQ with text as the core. Moreover, it is different from traditional music products and is a platform for user-created content. "Entertainment is a strong demand, and socializing ensures its stickiness and expansion space. It sounds very imaginative."

Hualian shares

denied that it was one of the shell targets

. Accompanied by the news that Sing Bar borrowed a shell A shares, there was news that Hualian shares had become one of Sing Bar's shell targets.

This stems from the fact that Hualian had previously issued an announcement stating that the company, Shanghai Changrui Investment Consulting Co., Ltd., CITIC Xincheng Asset Management Co., Ltd., etc. jointly initiated the establishment of Shanghai Xinpan Cultural Investment Center, with a total capital contribution of 446.51 million yuan., mainly invested in Beijing Zuitao Technology Co., Ltd., its main operating products are "Sing Bar" and "Sing Bar Live Room".

Hualian Co., Ltd. stated that the purpose of investing in karaoke is to help the company build a modern community shopping center business format that integrates O2O services in the future.

Chen Hua did not deny whether Hualian shares were one of the shell targets of Sing Bar when communicating with reporters, but only said: "Hualian shares are one of the investors in Sing Bar to split VIE."

Compared with Chen Hua's ambiguous attitude, Hualian shares seem more clear. The relevant person in charge of Hualian shares asked reporters to confirm: "Is Hualian shares one of the shell targets of Sing Bar to borrow a shell A shares?" replied directly. Said: "This news should not be true."

It is worth noting that in addition to investing in karaoke, Hualian plans to issue shares from Shanghai Rongshang and CITIC Mezzanine to purchase Anhui Hualian Shopping Plaza Co., Ltd., which they jointly hold.(referred to as "Anhui Hualian") 100% equity, Shanxi Hualian Shopping Center Co., Ltd.(referred to as "Shanxi Hualian") 100% equity, Inner Mongolia Xinlian Shopping Center Co., Ltd.(referred to as "Inner Mongolia Xinlian") 89.29% equity, Yinchuan Hualian Shopping Center Co., Ltd.(referred to as "Yinchuan Hualian") 80.92% equity and Qingdao Hairong Xingda Commercial Management Co., Ltd.(hereinafter referred to as "Hairong Xingda") 100% equity, and raised matching funds.

In addition to buying assets, Hualian also sells assets. As of the end of the third quarter of 2015, Hualian owned 60% equity in Beijing Hualian Wanmao Shopping Center Management Co., Ltd., 100% equity in Hefei Hualian Ruian Shopping Plaza Commercial Operation Co., Ltd., 100% equity in Qinghai Xinglian Real Estate Co., Ltd., 100% equity in Chengdu Hairong Xingda Real Estate Co., Ltd., and 100% equity in Dalian Hualian Commercial Facilities Operation Co., Ltd. have been delivered.

According to Hualian's third quarterly report, from the beginning of the year to the end of the reporting period, the company achieved operating income of 1 billion yuan, a year-on-year decrease of 1.52%; net profit attributable to shareholders of listed companies was 234 million yuan, a year-on-year increase of 381.56%. Hualian said that the company's net profit increased due to the increase in investment income during the reporting period.

Editor: yvonne