The China Securities Regulatory Commission (CSRC) has conditionally approved the backdoor listing application of visual content and solution provider Visual China Group (VCG) via Far East Industrial Stock (SZ:000681). Relevant brands under the group are CFP, Getty Image China, TungStar, and Shijue.
CFP, formerly known as Photo.com, is an online editorial imagery contents provider and distributing platform cofounded by Chai Jijun and YY’s CEO Li Xueling. Li left CEP in 2003 for divergence in development prospects of the company, but YY is still a controlling shareholder of the company. CFP is dedicated to providing Chinese and overseas customers with a rich and high quality images, video, visual products and professional services.
Getty Images China is a joint venture set up by VCG and Getty Images in 2005. Being a domestic provider for creative class photos, video copyright authorization, copyright clearance, entrust shoot and other professional services, it is committed to provide customers with high quality creative images, video material, and visual service.
TungStar is a professional production agency specializing in editing entertaining and news pictures and videos, with a professional entertainment editing group in Hong Kong, Taiwan, Beijing, Shanghai, Guangzhou, etc. It was founded in 2004 and being acquired by VCG in 2012.
Shijue.me is an active sharing community for visual pictures and a socialized e-commercial platform for creative design for products. The company planned to roll out a homegrown micro-profit stock photography site with around 50 yuan ($8.26) for each picture, disclosed Lei Haibo, founder of the company.
The market size of Chinese copyright pictures is estimated to reach 1.2 billion yuan and exceed 2.5 million yuan by 2015, according to report released by research institution CCID on June 2013.
image credit: VCG