Hidden behind the state-owned joint-stock company for many years Zhang Lijun, the operation is to create a capital master of sudden wealth are also hard to believe the myth
First Video Group President and Party Secretary Zhang Lijun, sitting upright security interests of Hong Kong International (hereinafter referred to Yanion International, 0082.HK) between the two directors. Not long ago, the latter with a 240 million dollar cost of the acquisition of the first video Zhang Lijun, a subsidiary of Group of 24.99% stake, and to Zhang Lijun become the majority shareholder Yanion International.
But give the world a surprise, only in more than 100 days ago, the first video of this Group's subsidiary, the net asset value actually only 20 million, the annual loss of several million dollars. Hong Kong An international lavish benefits ex post, as the acquired party, Zhang Lijun in the hands of "the first video group" has become a company with 1.5 billion Hong Kong dollars worth of the company.
Hidden behind the state-owned joint-stock company for many years Zhang Lijun, the operation is to create a capital master of sudden wealth are also hard to believe that myth.
Son inserted down the door
"I am now, as the acquired party, became the executive director of the International Security benefits, I was down the door of the son of the plug." Zhang Lijun, had a very vivid example.
Mergers and acquisitions reached under the previous framework, the benefits of international security will be the price of 0.63 Hong Kong dollars per share, issued 385 million new shares (representing the total diluted equity interest An International 33.5%), the first video for the purchase of Digital Media Technology Co., Ltd. (the said TMD1, one of the first video Group subsidiary) 24.99% stake. The Group will therefore be the first video security interests first 240 million dollar international financing support.
After completion of the acquisition, holding 49% TMD1 stake Zhang Lijun, will enjoy the benefits indirectly 25.9% stake in the international security and international security to become the majority shareholder interest. Time, Zhang Lijun net worth will be close to 400 million Hong Kong dollars. Its first video, the Group will take this landed in Hong Kong main board and become a total market value of up to 1.5 billion Hong Kong dollars in the online video advertising media group.
Zhang Lijun, 43, graduated from Nankai University in Tianjin, China. In addition to the international executive director of benefit security, the first video outside of the Group Chairman of the Board, Mr. Zhang is also Chairman of the Development Committee of China Asia-Pacific Economic Cooperation, APEC China Enterprises members of the Assembly and President of International Communications.
Before that, Zhang Lijun, who is also in the interests of the international economy has been Group (founded in 1993, the state-owned group of companies) Chairman of the Board, and Transit Communications Industry Group (mainly engaged in telecom operators and value-added services) President. "I was the first party secretary of the video group." Zhang said.
Simple and practical conversation, Zhang Lijun always implied from time to time: he is the leader of state-owned enterprises. In fact, Mr. Zhang is also a hidden behind the outstanding state-owned enterprises in the business.
Party secretary and businessman
Accumulation of wealth is always a businessman can not stop working. While making the rich may be able to evaluate the speed of whether the business Outstanding. Zhang Lijun, the world economy has a doctorate, is absolutely extraordinary businessman bit.
Zhang Lijun, the first video Group was established in June 1, 2005 with registered capital of 101.5 million yuan. One of China Association of Social Workers, Zhang Lijun personal and transit Communications Group owns 47.3%, respectively, 46.3,6.4% interest.
China Social Work Association is registered with Ministry of Civil Affairs of the national community organizations. "In fact the first video group is hanging in the name of the Chinese Association of Social Workers." A source told reporters, Zhang Lijun, as the primary transit system Communications Group founder, so enjoy the 52.7% interest in substantially Zhang Lijun, in A video group has a critical voice.
Zhang Lijun why cooperation with the China Social Work Association, the first video, and the reason it seems very simple. Appears in Zhang Lijun, a private company to cross the domestic media industry qualification and licensing threshold cumbersome, time costs and money costs are out of control.
Now turn around and looked, Zhang Lijun, a strategy with state-owned enterprises, the success of a mess: with the China Social Work Association to cooperate in 5 months, Zhang Lijun, a number of private media successfully got the power can not match the qualifications and licensing.
"In December 2005 the first online video site, I am a low profile." Zhang Lijun said, "I was all the network operators to apply for permission before opening the door for qualification."
Fortune shortcut in teaching
There have been asked Zhang Lijun, the first video nowadays similar group of Internet companies, are often subject to several rounds of venture capital back to the market, why the first video prior to listing, the Group does not accept any risk investment? Mr. Zhang replied that, without introducing risk investment, step by step and do the direct market, it read like a college boy class, you can move faster than others.
Fact seems to be true. He seems to be determined at the outset, so that tens of thousands of bits Kaiwai Alexa ranking first video, step onto Yanion International and the Hong Kong main board.
Formally launched in the first few months after the video Web site, performance at the low ebb Yanion International, and Zhang Lijun reached the merger agreement, to ease the security benefits from the pressure of international investors. And Zhang Lijun, also took the opportunity to leap into the Hong Kong main board listed Yanion International shareholder.
An international long benefits listed in Hong Kong. The design of its main business in investment holding, Chinese manufacturing, trade and contracting.
In recent years, several major benefits An international investment have little effect and lead to a loss year after year. 2005, Yi An international re-loss more than 6700 million Hong Kong dollars, the company has net assets of less than 17 million Hong Kong dollars even. The deadline to December 31, 2005 three years before, the interests of international security has never been declared to shareholders or pay dividends.
Pressure from shareholders, may be beneficial to introduce the first video An International group and rushed the root causes of Zhang Lijun.
Currently, the establishment of the first video Group 4 subsidiaries: TMD1, Beijing Gold Technology Development Co., Ltd. Cayman (hereinafter TMD2), Beijing Hongyu Hao Shuang Advertising Limited (TMD3) and the Beijing Internet era entertainment and cultural development Limited (TMD4).
In the four subsidiaries, TMD2, TMD3, TMD4 other three subsidiaries by the China Social Work Association and co-owned transit communications, 3 total registered capital of 1.1 million yuan. The registered capital of 100 million yuan of TMD1 (Zhang Lijun, 49%, China Social Work Association, 46% stake, Zhongtian communications holding 5%), international security is beneficial to spend 240 million Hong Kong dollars to the subject of mergers and acquisitions.
Yi-an international mergers and acquisitions in the relevant notice on said first video Group has entered into with the TMD1 total agreement for 50 years. Accordingly the agreement, TMD1 in the next 50 years, will be the first exclusive video group video technical support and service, and the right to obtain the first video media, telecommunications value-added services for all groups over 60% of revenue.
"The 25.99% TMD1 equity valuation, or the first video out of the Group to consider future prospects and other aspects which have come." He Weigang Yi An international consultant on the "Financial Times" reporter.
In view of this, Yi-an international 240 million Hong Kong dollars in the acquisition of a large one, perhaps only 50 years of gambling in the general agreement on the. The Group's future earnings to the first video, it seems no one can guarantee.
Reporter from the relevant channels, in the whole 2005, TMD1 to cover all staff salaries, allowances and other costs, but more than 20 million yuan. The Yanion International in August 18 of the circular is also disclosed, TMD1 on April 30, 2006 the net assets of only 222,000 yuan.
This calculation, Zhang Lijun, the equivalent of more than 100 days in this period of time, will be more than 20 million yuan of net assets onto the Hong Kong main board, and in exchange for 240 million Hong Kong dollars of real money. Although the result of mergers and acquisitions become a "back door plug-law," but Dr. Zhang Lijun of the sacrifice is still quite cost-effective.
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