Online Independent Media Company WeMedia Lists on NEEQ
Tencent Tech, 11/25/16
Beijing-based online independent media company WeMedia New Media Group, recently listed on China's National Equities Exchange and Quotations (NEEQ) OTC-style agency share transfer system, with the security listed as 'WeMedia Interactive' under the ticker 839628.
WeMedia New Media Group was established in June 2013, to plan, create, edit and share original content via WeChat, Weibo, Today's Headlines, Tencent News and other social media and news platforms. It enables independent bloggers to share and market their content via online channels.
WeMedia had an annual full-year operating income of RMB 15.85 mln in 2014 and RMB 54.27 mln in 2015, and its net profit was RMB 1.36 mln and 11.63 mln respectively. From January to March 2016, its operating income was RMB 19.62 mln and net profit was RMB 7.68 mln. WeMedia's chairman Li Yan is the largest shareholder with 7.23 mln shares, accounting for 36.17% of total shares, followed by WeMedia CMO Chen Zhong with a 13.74% equity stake.
WeMedia also provides marketing and communications services to companies including China Merchants Bank, Baidu (Nasdaq: BIDU), Tencent (0700.HK), Huawei Technologies, Leshi Internet Information and Technology (300104.SZ), and Tesla Motors. It received Series A+ funding in September 2016 and Series A financing last year.
Editor's Note: For more information on WeMedia New Media Group's Series A funding, please see "Independent Media Group 'WeMedia' Wins RMB 60 Mln Series A," MD 12/19/15 issue.
Keywords: 839628.NEEQ online information service IPO Li Yan Chen Zhong Internet WeMedia mobile information service wireless
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