May 31, 2020

Layout outdoor LED big screen media Guangdong Media plans to acquire Champs Media

Guangdong Media, which has suspended trading for major events for nearly two months, announced that the company and its wholly-owned subsidiary intend to purchase 100% equity of Shanghai Xiangli Advertising Media Co., Ltd. in the form of a combination of cash and issuance of shares. The consideration is 450 million yuan.

Xianglili Media Advertising is one of the leading companies in the domestic outdoor LED large-screen new media market. The company's main business is outdoor large-scale LED media development and operation. According to the announcement, the promised profits of Xiangli Media from 2013 to 2016 are not less than 46 million yuan, 56.83 million yuan, 68.7 million yuan and 81.56 million yuan respectively.

According to the profit forecast, after the completion of asset restructuring, the net profit attributable to the shareholders of the parent company in the 2013 and 2014 pro forma consolidated income statement was 320 million yuan and 336 million yuan respectively, compared with the net profit of 276 million yuan in 2012. After the completion of the acquisition, the profitability of Guangdong Media has been further enhanced and the layout of the business segment has been further improved.

In the view of Chen Guangchao, the secretary-general of Guangdong Media, with the large-scale operation and industrial upgrading, Chinese cultural industry enterprises are ushered in a period of strategic opportunities for leap-forward development. After the completion of this asset reorganization, Guangdong Media will combine its own advantages with the outdoor LED large screen new media marketing network of Xiangli, and integrate resources of various media to create a cross-media integrated marketing advertising platform.

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