Chinese All Digital Publishing Completes RMB 2 Bln Private Placement
Lieyunwang.com, 8/24/16
Beijing-based online and e-book publishing firm Chinese All Digital Publishing (300364.SZ) has officially announced that it has secured RMB 2 bln in a private placement. Company chairman Tong Zhilei said that the capital will be used for further development of Chinese All Digital Publishing's online literature and education businesses.
At the same time, Chinese All Digital will be cooperating with Guangdong-based animation company Alpha Group (002292.SZ) to develop an entertainment intellectual property ecosystem. The two parties will jointly invest, develop, operate, and produce at least 2 IPs every year. While the IPs are being developed, both companies will work together to mutually promote their script, animation, video, music, and game businesses through their respective channels.
Chinese All Digital and Alpha Group will also have the choice to invest in each other's projects going forward, and plan to cooperate on developing a presence in foreign markets.
Cai Dongqing, Alpha Group's chairman and an investor prior to Chinese All Digital's IPO, said that Alpha Group was already assisting Chinese All Digital in its efforts to cultivate original novels and develop subsidiary online literature platform Tangyuan Chuangzuo. The literature platform's CEO, Zhou Wei, said that Tangyuan Chuangzuo is planning to expand into other fields such as animation, movies, television, and games. Presently, the two parties have already signed multiple contracts with authors of the platform to produce popular fiction novels that will shortly be adapted into comics.
Keywords: Tangyuan Chuangzuo Zhou Wei Internet animation online literature Alpha Group intellectual property 002292.SZ Cai Dongqing All Digital Publishing 300364.SZ M&A
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