Tang De Film and Television plans to acquire Fan Bingbing, the company's valuation may exceed 1 billion yuan, attracting attention

As of the end of 2015, the total assets and net assets of Tangde Film and Television were 1.48 billion yuan and 870 million yuan respectively. The entire valuation of Aimei will be no less than 740 million yuan. Many financial professional institutions believe that the valuation will exceed 1 billion yuan.

The beauty god under the name of famous movie star Fan Bingbing wants to leverage Tang De Film and Television to go public. A company established only last year with a registered capital of only 3 million yuan will have a premium of more than 700 million yuan. Not only were investors talking about it, but the exchange couldn't sit still under the overwhelming public attention.

The Shenzhen Stock Exchange issued a letter of concern on April 11, regarding Tangde Film and Television's earlier announcement to acquire a 51% stake in Wuxi Aimei Film and Television Culture Co., Ltd.(referred to as "Aimei") and initially determined that the acquisition meets the standards for material asset restructuring. Inquiries. The Shenzhen Stock Exchange pointed out that if the acquisition of Aimei meets the standards for material asset reorganization, its valuation will increase significantly in the short term. It requires Tangde Film and Television to focus on analyzing and explaining the valuation of Aimei when disclosing the material asset reorganization plan, and Make major risk warnings.

The National Enterprise Credit Information Publicity System shows that Aimei Films was established on July 30, 2015, with legal representative Fan Bingbing, with a registered capital of 3 million yuan. The shareholders are Fan Bingbing and Zhang Chuanmei (Fan Bingbing's mother). In addition, Fan Bingbing also serves as executive director and general manager of the company.

Tangde Film and Television did not disclose more details in the announcement, but the company said it was initially determined that the acquisition met the standards for major asset reorganization. According to the "Measures for the Management of Material Assets Reorganization of Listed Companies", three situations constitute a material asset reorganization: the purchase price or the total assets of the acquisition target (multiplied by the acquisition proportion) exceed 50% of the total assets of the listed company; the proportion of the underlying revenue exceeds 50%; The purchase price or the net assets of the acquisition target (multiplied by the acquisition proportion) account for more than 50% of the net assets of the listed company and more than 50 million yuan.

As of the end of 2015, the total assets and net assets of Tangde Film and Television were 1.48 billion yuan and 870 million yuan respectively. The entire valuation of Aimei will be no less than 740 million yuan. Many financial professional institutions believe that the valuation will exceed 1 billion yuan.

The high premium acquisition of Fan Bingbing's company not only attracted a lot of public attention, but also left a large number of questions on the interactive investor relations platform. Some investors asked Tang De Film and Television,"Why did they want to acquire Fan Bingbing's Wuxi Aimei God? The acquisition is suspected of transferring benefits","Will the share price drop thousands of miles after the resumption of the trading, and what control measures are there?" The company's executives did not answer positively.

As early as February 2015, when Tang De Film and Television went public, Fan Bingbing became the company's tenth largest shareholder with a shareholding of 1.29 million shares. When Fan Bingbing invested in the shares in 2011, her investment was approximately 856,000 yuan.

The relationship between the listed company and Fan Bingbing allowed the Shenzhen Stock Exchange to conduct a detailed review of the compliance of the transaction and send a letter of concern to the company.

Regarding the risks behind high valuations, Chen Shaofeng, deputy dean of the Institute of Cultural Industry at Peking University, once pointed out that film and television itself is a high-risk industry with many uncertainties. For star-holding companies, after artists cash out in the early stage, they are also driven by equity interests, and the interests of both parties are more closely bundled, and their value is mainly reflected in cooperation at the business level; for investment in film works, writers, etc., the market prospects are difficult to predict.

Editor: yvonne