Chinese online plans to acquire Chenzhike for 1.47 billion yuan to set foot in two-dimensional G station.

Chinese online announced on Aug. 10 that it plans to buy an 80 per cent stake in Shanghai Chenzhike for 1.47 billion yuan. After the acquisition, Chenzhike becomes a wholly owned subsidiary of Chinese online, with a total valuation of 1.86 billion yuan.

on Aug. 10, Chinese online announced that it plans to buy an 80% stake in Shanghai Chenzhike for 1.47 billion yuan. After the acquisition, Chenzhike becomes a wholly-owned subsidiary of Chinese online, with a total valuation of 1.86 billion yuan.

according to the announcement, Chinese online plans to issue 64020004 shares at 15.98 yuan per share and pay 450 million yuan in cash for a total of 1.47 billion yuan to buy 80 per cent of Shanghai Chenzhike Information Technology Co., Ltd. Upon completion of the acquisition, Chenzhike will become a wholly-owned subsidiary of Chinese online.

Chenzhike promises that the net profit in 2017, 2018 and 2019 (after deducting non-profit) will not be less than 150 million yuan, 220 million yuan and 264 million yuan respectively.

Morning Chenke's main business is operating G Station, an early professional secondary cultural exchange community in China, and based on this community, through self-supporting or joint research and development, it operates pan-second-dimensional mobile online game business, as well as G-station advertising business. And provide two-dimensional related live broadcast content design, planning and training services for the live broadcast platform.

Edit: mary