Dongfang Network plans to acquire film and television company Xu Qing and others appear as the transaction party

Dongfang Network announced on the evening of November 4 that the company plans to purchase the entire equity of three film and television companies: Shandong Jiabowen Chemical Development Co., Ltd., Shanghai Huahua Cultural Media Co., Ltd. and Beijing Yuanchun Media Co., Ltd., with a total transaction price of 3.536 billion yuan.

Dongfang Network announced on the evening of November 4 that the company plans to purchase the entire equity of three film and television companies: Shandong Jiabowen Chemical Development Co., Ltd., Shanghai Huahua Cultural Media Co., Ltd. and Beijing Yuanchun Media Co., Ltd., with a total transaction price of 3.536 billion yuan. The transaction partners include Xu Qing, Chen Jianbin, Wang Xuebing, Jiang Qinqin and other well-known film and television actors.

Dongfang Network said that through this acquisition, the company will further strengthen its capabilities in the production of movies, TV series and TV program content, form core competitiveness in self-made content, help complete the further reserve of the company's IP resources, and be able to utilize relevant The industry resources and audience base of the target company's film and television works and TV programs will enhance the influence of other products under the company's pan-entertainment platform, and can also use the company's existing business, platform, Based on channels and user traffic, extended products are developed in a targeted manner based on the promotion needs of film and television works, ensuring that the in-depth comprehensive development capabilities of high-quality IP are fully utilized and laying a good foundation for the company's "pan-entertainment" strategy.

In terms of profitability, Jiabo Culture promises to achieve net profits of no less than 120 million yuan, 150 million yuan and 195 million yuan respectively from 2016 to 2018; Huahua Culture promises to achieve net profits of no less than 80 million yuan, 104 million yuan, and 130 million yuan respectively from 2016 to 2018; Yuanchun Media promises to achieve a net profit of no less than 60 million yuan, 78 million yuan and 100 million yuan respectively from 2016 to 2018.

According to the plan, the listed company plans to pay 1.342 billion yuan in cash to the counterparty and issue 136 million shares at a price of no less than 16.12 yuan/share to purchase the above assets.

At the same time, the listed company plans to raise a total of no more than 2.09 billion yuan in matching funds, which will be used to pay the cash consideration, pay transaction-related fees, and the Jiabo Culture Film and Television Drama Project, Huahua Culture Film Project, Yuanchun Media TV Program and Film and Television Drama Project, etc.

Editor: yvonne