Huace Film and Television invested 40 million yuan in Hangmei Media invested 100 million yuan in the establishment of the film and television investment fund

on the evening of December 25, Huatze Film and Television announced that the company intends to contribute 100 million yuan to participate in the Beijing Wenxin quality Investment Fund set up by Beijing Cultural Center Construction and Development Fund Management Co., Ltd.). In addition, the company plans to invest no more than 40 million yuan to increase capital to Hangmei Media Group Co., Ltd., with a shareholding ratio of no more than 1%.

original title: Huatze Film and Television's 40 million capital increase in Hangmei Media was blocked

on the evening of December 25, Huatze Film and Television announced that the company intends to contribute 100 million yuan to participate in the Beijing Wenxin Superior Investment Fund (Limited Partnership) established by Beijing Cultural Center Construction and Development Fund Management Co., Ltd. (hereinafter referred to as Cultural Center Fund). In addition, the company plans to invest no more than 40 million yuan to increase capital to Hangmei Media Group Co., Ltd. (hereinafter referred to as Hangmei Media), with a shareholding ratio of no more than 1%. The reporter noted that the capital increase plan was opposed by Beijing Hangmei Shengshi Advertising Co., Ltd. (hereinafter referred to as Hangmei Shengshi Advertising), the third largest shareholder of Hangmei Media.

< strong > Cooperation to set up Film and Television Fund < / strong >

on the evening of December 25, Huatze Film and Television announced that the company intends to sign a "Strategic Cooperation Framework Agreement" with the Cultural Center Fund, the two sides reach a strategic partnership and use their own funds to carry out a package of strategic cooperation.

the reporter noticed that the strategic cooperation package mainly consists of two parts: one is that the company (or through wholly-owned subsidiaries and other entities) will contribute 100 million yuan to participate in the Beijing Wenxin quality Investment Fund (limited partnership) set up by the cultural center fund and become a limited partner of the fund; second, the company plans to invest no more than 40 million yuan to increase capital to Hangmei Media, and the company holds no more than 1% stake in Hangmei Media after the capital increase is completed.

the announcement shows that the total size of the proposed Beijing Wenxin premium investment fund (limited partnership) is 2 billion yuan (tentative). The first phase of the fund management company of the cultural center will contribute 300 million yuan through the fund managed by the cultural center. Huatze Film and Television contributed 100 million yuan, and the remaining share was raised in the market. Among them, 60% of the fund share is used for film and television project investment and 40% for equity investment.

data show that the Cultural Center Fund is a wholly owned subsidiary of Beijing Cultural Investment and Development Group Co., Ltd. (hereinafter referred to as Wentou Group), while Wentou Group belongs to the Beijing Municipal Office of Supervision and Administration of State-owned Cultural assets. Huatze Film and Television said that this strategic cooperation will help to speed up the development of the company by taking advantage of the resource advantages of Wentou Group and the professional investment ability of the management team, linking high-quality film and television content and equity resources in the industry.

< strong > Capital increase < / strong >

Huatze Film and Television said that the company and other relevant investors intend to increase capital to Hangmei Media. Huatze Film and Television plans to contribute no more than 40 million yuan, of which 12.06 million yuan will be included in the registered capital and the remaining 27.94 million yuan in the capital reserve. After the completion of this capital increase, the company holds a stake of no more than 1% in Hangmei Media, which is determined according to the final capital increase of all investors.

data show that Hangmei Media's main business is airport electronic media advertising, airport traditional media advertising, outdoor advertising and other businesses. It is the largest aviation media operator in China and the second largest outdoor media group in China. It has media resources in 29 airports across the country, and has built a media network covering Beijing, Shanghai, Guangzhou and other major airports.

the reporter noticed that according to the capital increase plan, before this capital increase, the top three shareholders of Hangmei Media are Beijing Cultural Center Construction and Development Fund (Limited Partnership), Beijing Longde Wenchuang Equity Investment Fund (Limited Partnership) and Hangmei Shengshi Advertising, with a shareholding ratio of 46.43%, 28.57% and 24.83%, respectively. After the completion of the capital increase, the shareholding ratio of the top three shareholders became 37.72%, 23.21% and 20.18%.

however, the capital increase plan has been opposed by Hangmei Shengshi Advertising, which is currently the third largest shareholder of Hangmei Media. Huatze Film and Television said that it recently received an "official letter" sent to the company by Hangmei Shengshi Advertising, which shows that Hangmei Shengshi Advertising opposes this capital increase and that if this capital increase is implemented, Hangmei Shengshi Advertising intends to exercise the preemptive subscription right and shareholder preemption right to the new capital of Hangmei Media.

in response to this, Cai Shaohui, a lawyer from Pacific Century (Shanghai) Law firm, told reporters that the capital increase usually requires more than 2/3 of the resolution of the company's shareholders' meeting before it can be implemented, and that Hang Mei Shengshi Advertising accounts for less than 1/3 of Hang Mei Media's shares. Huatze Film and Television's plan to increase capital to Hangmei Media is still possible, but it is also difficult. Because of the provisions of the Company Law, the original shareholders have the right of priority to subscribe for new shares.

Edit: nancy