Cultural Investment Holdings plans to acquire 100% equity of Xiaju Network for 410 million yuan

Wen Tou Holdings announced on the evening of December 12 that the company's subsidiary Shanghai du play Network Technology Co., Ltd. plans to acquire a 100% stake in Guangzhou Jiaju Network Technology Co., Ltd. at a total price of 410.025 million yuan. Guangzhou Xiaju Network Technology Co., Ltd. was founded in April 2014 with a registered capital of 1 million yuan, according to the announcement. It is a technology company that operates mobile vertical game platforms and game communities. Its main products are Mobile APP such as "Hulu Man" and "Hulu Man my World". As of July 31, 2016, the "Hulu Man" series APP has pushed more than 150 million games for users. As of August 31, 2016, the total assets of the network were 20209925.52 yuan and the net assets were 14196682.76 yuan. From January to August 2016, the operating income was 27693258.61 yuan and the net profit was 18089323.15 yuan.

the announcement said that after this acquisition, all play network can rely on the Huluxia platform and users, and will greatly improve its own game promotion, game distribution and channel development business in the future with the help of the Huluxia platform. And increase the scale of revenue. Based on the existing user base and growth trend in terms of user growth and business strategy, Xia Ju Network plans to further strengthen the game community attribute of Huluxia, and at the same time, according to the needs of different users, cater to its needs in games, shopping, live shows, film and television animation and other diversified pan-entertainment needs, to form a real pan-entertainment ecological community. Du play network can connect and carry out a number of pan-entertainment industry-related businesses through the Huluxia platform, and dock the film and television related resources of listed companies on this platform, so that the film, television and game business of listed companies can be fully integrated in the Huluxia entertainment ecological community and produce a new business growth and profit model.

according to industry insiders, Wentou Holdings has cut into the fastest-growing segment of pan-entertainment through its 100% acquisition of Yaolai Cinema and game assets, and has become a model for the mixed reform of state-owned enterprises. Yaolai Studios owns Jackie Chan's exclusive authorized brand to provide a first-class cinema experience at people-friendly prices. It made a net profit of 181 million yuan in the first half of 2016 and has operated 39 modern studios in 23 cities across the country. All play online games mainly engaged in R & D and operation. In the first half of this year, new games represented by "Hot Blood Battle Song" were launched one after another to promote a surge in the number of service launches, achieving a net profit of 75.64 million yuan. The company at the same time with the help of high-quality IP enhanced video game linkage type products, the current research IP games are "Shanhai Classic" page games / mobile games, "ghost blowing lanterns" mobile games / VR games. Future performance will continue to be bright. The acquisition of 100% stake in Chivalu Network is a listed company with the help of its platform and many users to expand its business and dock its film and television-related business to create a new growth point of the company.

Edit: yvette