Orient Network plans to adjust its major asset reorganization plan. 3.5 billion yuan cross-border mergers and acquisitions will be recycled

Dongfang Network had been preparing for a long time and acquired three companies for 3.536 billion yuan. The film and television acquisition involving Xu Qing, Chen Jianbin, Wang Xuebing and other stars came to a halt four months after the official announcement.

Original title: Dongfang Network's 3.5 billion film and television acquisition involving multiple stars has come to a halt. Dongfang

Network has been preparing for a long time and acquired three companies for 3.536 billion yuan. The film and television acquisition involving multiple stars such as Xu Qing, Chen Jianbin, and Wang Xuebing has been officially announced. The brake suddenly stopped after 4 months. It is worth noting that since the date it was made public, the acquisition has attracted widespread attention due to the suspected surprise purchase of shares by many stars and high premiums. This sudden braking also revealed the risks and problems behind the film and television acquisition.

Dongfang Network announced on March 9 that it plans to purchase 100% equity in Jiabo Culture, 100% equity in Huahua Culture, and 100% equity in Yuanchun Media by issuing shares and paying cash, while raising a total of no more than 2.09 billion yuan. The adjustment to the transaction plan is expected to constitute a major adjustment to the plan. Regarding the reasons for the adjustment, Dongfang Network stated that the market environment has undergone major changes recently, and the policy environment has also undergone major changes.

However, observation shows that in addition to changes in the market environment and policy environment, the film and television acquisition itself has repeatedly aroused doubts from some industry insiders. In May last year, while Orient Network was suspended in preparation for this major asset reorganization, Jiabo Culture, one of the acquisition targets, received a sudden shareholding from several stars. Public information shows that Xu Qing invested 2 million yuan, Chen Jianbin invested 1 million yuan, and Liu Bin and Wang Weimin each invested 500,000 yuan. In addition, Wang Xuebing and Jiang Qinqin also invested in shares, becoming star shareholders.

The emergence of multiple star shareholders, on the one hand, raised doubts in the industry that stars were suspected of rushing into shares and making huge cash withdrawals. On the other hand, it also greatly increased the valuation of the target company, making the evaluation value of Jiabo Culture go from less than 200 million yuan to 600 million yuan, and then to 1.684 billion yuan, with a value-added rate of 1,053.94%.

Editor: Nancy