Jul 22, 2011
On July 21, the China Video Industry Association (CVIA) and Chinese market research firm AVC jointly announced that a total of 19.37 mln television sets were sold in China (excluding online sales) during H1 2011, generating RMB 73.66 bln in sales revenue, down 0.6% YoY and 2.3% YoY respectively.
Guangdong-based electronic components and electronic material manufacturer Fenghua Advanced Technology Holding said in a public filing today that it intends to invest RMB 50 mln in cash to co-found the RMB 4 bln Guangdong Broadcast Network Investment Fund, through which it will gain a stake in Guangdong Cable TV Network Co., Ltd. The Broadcast Network Investment Fund plans to acquire some of the new shares issued by Guangdong Cable TV Network at double the valuation of the net assets per share.
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