Wang Jianlin transfers 49% equity of Beijing Wanda Investment! What is the origin of Confucian and Italian film and television? Equity | Box Office | Origin

Wang Jianlin has sold assets again, and the news of "Wang Jianlin transferring 49% equity of Beijing Wanda Investment" has topped the hot search list.

On July 23rd, media reported that recently, Wang Jianlin transferred 49% of the equity of Beijing Wanda Investment Co., Ltd. to Shanghai Ruyi Film and Television Production Co., Ltd.

According to sources familiar with the matter, the funds sold by Wanda Group will be used to repay the principal of the $400 million bond due on July 23rd.

Wang Jianlin transfers 49% equity of Beijing Wanda Investment

According to Tianyancha's equity information, the transfer has been completed, and on July 20th, the company completed the investor change.

Before the completion of the transaction, Wang Jianlin and Beijing Wanda Cultural Industry Group Co., Ltd., a subsidiary of Wanda Group, jointly owned all the equity of Beijing Wanda Investment.

After the transaction is completed, Beijing Wanda Investment will be held by Beijing Wanda Cultural Industry Group Co., Ltd. at 49.8% and by Shanghai Ruyi Film and Television at 49%.

At present, both parties have not disclosed the price of the equity transfer. However, according to the National Enterprise Credit Information Publicity System, the shareholders of Ruyi Film and Television subscribed to the capital on July 17th, with a subscribed capital amount of 1.47 billion yuan.

Analysts say that Ruyi Film and Television is willing to invest in Wanda Investment this time because they are interested in their equity in Wanda Film.

Wang Jianlin has sold assets three times since July

This is the third time Wang Jianlin has sold assets since July, after Wanda Film transferred its equity twice in a row.

On the evening of July 11th, Wanda Film announced that its controlling shareholder, Beijing Wanda Investment Co., Ltd., plans to transfer its 180 million shares of the company held by Wanda Film to Lu Lili through an agreement transfer, accounting for 8.26% of the total share capital of the company, at a transfer price of 12.07 yuan per share.

On July 17th, Wanda Investment and its concerted action person, Xinxian Rongzhi, signed a share transfer agreement regarding Wanda Film Co., Ltd. Wanda Investment plans to transfer its 177352994 shares of Wanda Film with unlimited sales conditions to Xinxian Rongzhi at a transfer price of 13.17 yuan per share, with a transfer price of approximately 2.335 billion yuan.

What is the origin of Confucian and Italian film and television?

Ruyi Film and Television is a dark horse in the domestic film and television industry in recent years. It has invested in films such as "Hello, Li Huanying", "Sending You a Little Red Flower", and "To Our Passing Youth". Its representative TV dramas include "No War in Beiping", "Langya Bang", "Biography of Mi Yue", and "Old Tavern".

This year, Ru Yi also participated in the box office success of "The Disappearing She". In addition, this year I also contributed to "Warmth" and "Keep You Safe".

It is understood that Ruyi Film and Television is a wholly-owned subsidiary of China Ruyi in the Hong Kong Stock Exchange, and the second largest shareholder behind China Ruyi is Tencent.

On July 4, 2023, China Ruyi entered into a share subscription agreement with the subscribers, issuing a total of 2.5 billion subscription shares at HKD 160 per share, raising a net amount of HKD 4 billion, of which 90% are intended for the development and expansion of the film and gaming business.

According to the announcement from the Hong Kong Stock Exchange, Tencent completed the subscription for new shares of China Ruyi through its subsidiary Water Lily on the same day, holding 2.546 billion shares and increasing its shareholding to 25.45%, further consolidating its position as a major shareholder.

Prior to this, the predecessor of Chinese Confucianism was the Hengteng Network. In October 2020, Hengteng Network suddenly announced that it would fully acquire Ruyi Film for HKD 7.2 billion, and Ruyi Film went public through a backdoor listing.

Hengteng Network was jointly established by Evergrande and Tencent. Before the acquisition of Ruyi, Evergrande and Tencent respectively accounted for 55.6% and 19.32% of the shares in Hengteng Network, dominated by Evergrande, whose main business was Internet streaming media platform.

However, since the outbreak of the Evergrande crisis, Xu Jiayin has also cleared 55.6% of Evergrande's shares from the CEOs of Ruyi Film and Television, namely the founder of Pumpkin Film and Television, Ke Liming, Tencent, and United Resources Investment Holdings Limited, in three separate installments, raising nearly HKD 10 billion.

Subsequently, HengTeng Network announced that the company plans to change its English name from "HengTen Networks Group Limited" to "China Ruyi Holdings Limited" and change its second Chinese name from "HengTeng Networks Group Limited" to "China Ruyi Holdings Limited".

In the past two years, China Ruyi has received support from Tencent in multiple business lines such as content production, online streaming, and gaming.

In the second quarter of 2021, Tencent Holdings reached an agreement with China Ruyi to share film and television copyright resources. In January 2022, China Ruyi announced its entry into the gaming business and received technical services and channel promotion support from Tencent Computer for its gaming products.