Century Cruises Reorganization Received Approval, Giant Network Estimated Value of 13.1 billion A Countdown

After the reorganization is completed, Lan Lin Investment will become the controlling shareholder of the company, Shi Yuzhu will become the actual controller, and the company's main business will also change from inland and foreign-related luxury cruise ship operations and travel agencies to a comprehensive Internet company focusing on online games.

Century Cruises announced that the company has received relevant approval from the China Securities Regulatory Commission, approving the company's major asset reorganization and issuing shares to Shanghai Lanlin Investment to purchase assets and raise matching funds. This shows that Giant Network's return to A-shares has entered the countdown.

According to the reorganization plan, Century Cruises plans to issue approximately 442.5 million shares to all shareholders of Giant Network at a price of 29.58 yuan per share to purchase 100% equity of Giant Network, with an estimated transaction consideration of approximately 13.1 billion yuan; At the same time, it will sell the original cruise ship assets to the company's actual controller Peng Jianhu at a transaction price of approximately 627 million yuan. In addition, the company will also issue approximately 169 million non-public shares at the same price, with supporting fundraising of no more than 5 billion yuan, which will be used for online game research and development, agency and operation distribution, online entertainment and e-sports community construction, Internet channel platform construction, online games overseas operation and distribution platform construction, big data center and R & D platform construction and other projects.

After the reorganization is completed, Lan Lin Investment will become the controlling shareholder of the company, Shi Yuzhu will become the actual controller, and the company's share capital will increase from 65.45 million shares to approximately 677 million shares. The company's main business will also change from inland river foreign-related luxury cruise ship operations and travel agencies to a comprehensive Internet company focusing on online games.

As a result, the operating conditions of listed companies have been significantly improved and net profit will be significantly increased. In 2013, 2014 and the first nine months of 2015, the net profit of Century Cruises was 3.11 million yuan, 10.58 million yuan and-20.84 million yuan respectively; after the reorganization was completed, Giant Network shareholders promised that the net profit after deduction in 2016, 2017 and 2018 will reach 1 billion yuan, 1.2 billion yuan and 1.5 billion yuan respectively.

Editor: yvonne