Get the free version of Marbridge Daily delivered to your inbox

Click here to subscribe

Baofeng to Spend RMB 3 Bln to Acquire Three Entertainment Companies

Baofeng, 3/14/16

Beijing-based media player software developer Baofeng (300431.SZ) recently said that it will issue stock and pay cash to acquire two online gaming companies and one film studio. Baofeng will purchase 100% of shares issued by Hong Kong-based overseas online and mobile gaming publisher Gump Tech for a total of RMB 1.05 bln, spend RMB 1.08 bln to acquire a 60% stake in Jiangsu-based television program production studio Straw Bear Pictures, and purchase 100% of shares issued by Hangzhou-based online game developer Lidong Information Technology for RMB 975 mln.

According to reports from Baofeng, its operating income for January to September 2015 was RMB 348.89 mln, and net profits were RMB 23.87 mln.

Straw Bear Pictures, established in June 2014, mainly engages in broadcast television program production and distribution. Its operating income for 2015 was RMB 67.65 mln including net profits of RMB 28.52 mln.

Gump Tech, established in September 2012, focuses on overseas game distribution and marketing. Its 2015 operating income was RMB 8.69 mln including net profits of RMB 1.25 mln.

Lidong, established in August 2015, engages in online game development, distribution, and operation. Its operating income for 2015 was RMB 20.38 mln and net profits were RMB 4.74 mln.

Keywords: M&A Gump Tech Lidong overseas Hong Kong mobile gaming online gaming Internet TV content production 300431.SZ Straw Bear wireless television

Feedback

Please note, all fields are required.
None of your personal information will be shared with third parties.

SendingSending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily Premium

Interested in gaining full access to all newsletter articles and the Marbridge Daily archive? To learn more about premium subscription options, including pricing, please:

Click here

Marbridge Consulting RSS Feed

Marbridge Reports