Sanqi Mutual Entertainment spent 100 million yuan to subscribe for a 2.38% stake in online game service platform Xinxin Network

It was announced in the morning on February 6. On February 3, the company's subsidiary company, Xizang Taifu Cultural Media Co., Ltd., and Xindi Network Co., Ltd. signed the "Stock Issuance and Subscription Agreement between Xindi Network Co., Ltd. and Xizang Taifu Cultural Media Co., Ltd." According to the agreement, Xizang Taifu will subscribe for 7.25 million new shares of Xinxin Network with its own funds of RMB 100.05 million, and obtain a 2.3841% equity after its capital increase is completed.

Original title: Sanqi Mutual Entertainment spent 100 million yuan to subscribe for a 2.38% stake in Xinxin Network

. Sanqi Mutual Entertainment announced in the morning of February 6. On February 3, the company's subsidiary Xizang Taifu Cultural Media Co., Ltd. and Xinxin Network Co., Ltd. signed the "Share Issuance and Subscription Agreement between Xinxin Network Co., Ltd. and Xizang Taifu Cultural Media Co., Ltd." According to the agreement, Xizang Taifu will subscribe for 7.25 million new shares of Xinxin Network with its own funds of RMB 100.05 million, and obtain a 2.3841% equity after its capital increase is completed.

According to the announcement, Xinxin Network's main business is the research and development and distribution of web games and mobile games. It focuses on one-stop digital entertainment experience services for the entire game industry chain. It relies on its own game platform and combines the intermodal market to carry out game products. Distribution and promotion; its main products now include: "Immortal Dao" series,"Romance of the Three Kingdoms","Sweeping Thousands of Soldiers","Fighting Polly Every Day", and "Legend of RO Wonderland: Protecting Eternal Love "," Rampage "," General God "series," Big Talk Fairy "," Creation of the World "series, etc. At the same time, the company has continuously improved its all-round layout in the pan-entertainment industry chain, and has developed from pure game research and development, operation and distribution to the pan-entertainment field. It has successively established and launched brands such as "Heartbeat Entertainment", and diversified in idol entertainment, animation IP and other fields, and is committed to providing high-quality comprehensive entertainment service experience.

From January to June 2016 and 2015, Xinxin Network's net profit was 60,133,997 yuan and 23,929,566 yuan respectively.

The company stated that it recognizes the development concept of Xinxin Network, and the two parties have already carried out close cooperation in business areas such as game distribution and operation promotion in the early stage. This participation in the stock issuance of Xinxin Network will further strengthen strategic cooperation with Xinxin Network. Xinxin Network will raise funds needed for development through this additional issuance, which will inject new impetus into its development. As a shareholder, the company is expected to obtain better returns; At the same time, cooperation with Xinxin Network at the capital level will promote more synergy with the company in the fields of game research and development, distribution, IP cooperation, and pan-entertainment.

Editor: yvette