LY.com, a leading player in China’s local attraction ticket arena, announced on Sunday it’s going to merge Wanda Tourism, the traveling arm of Chinese real estate conglomerate Dalian Wanda Group, with a mixture of cash and stock. After the transaction, LY.com’s market valuation will exceed 20 billion RMB (around $2.98 billion USD) with a cash deposit of […]
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Local Companies Dominate The List Of Top 30 Employers In China, Led By Tencent
On Friday, Zhaopin.com announced their annual China Best Employer Award with Tencent as the #1 employer in China. This annual award is jointly issued by Zhaopin and Peking University’s Institute of Social Science Survey. Now in its 11th consecutive year, the award has become a valuable reference for job seekers in China. This year, more than […]
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Is There A Film Industry Bubble? China’s Top Tech-Backed Figures Weigh In
The speed with which the Chinese film industry has developed in recent years has been dizzyingly fast, even for the country’s most experienced veterans. “Less than a decade ago it was the filmmakers who went out looking for financing,” Alibaba Pictures CEO Zhang Qiang told a forum on finance and film at the Shanghai International […]
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Alibaba Pictures Invests in Hangzhou Cinema Company
Alibaba Pictures, the entertainment arm of the Chinese e-commerce giant, is investing RMB 100 million (US$15.2 million) for an 80 percent stake in a movie theater operator in its hometown of Hangzhou, as it takes on rival Dalian Wanda. The company will acquire around 61 percent of Hangzhou Xingji from shareholder Hangzhou Kunwei for RMB […]
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Why Third-party Payment License Is The Most Coveted Resource For Chinese Tech Companies
If you are a company that runs online payment services in China, you must obtain a license to legally conduct the transactions in the country. That’s a basic rule. But for Chinese firms who want to dip their toes in payment industry, getting a license to legalize their status as an online payment agency is becoming […]
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Chinese Online Gaming Firm Giant Interactive Gets into Pictures
Chinese online game developer and operator Giant Interactive Group is getting into China’s booming movie business, local media reports said. According to the reports on Monday, the company has formed a new subsidiary called Giant Pictures (Jùrén Yǐngyè / 巨人影业) It is the first major move Giant has made since it was privatized in 2014 […]
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China To Halt New Entertainment, Tech Stocks To Stave Off Market Bubble
In a bid to head off a speculative bubble, China’s securities regulator is set to bar companies from selling new shares to fund investments in film and television, online gaming, internet finance and virtual reality, fields that it deems non-core businesses, a leading national magazine reported. Citing two unnamed sources, one at the China Securities […]
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[Update] LeSports Lands 8 Billion RMB Funding At 21.5 Billion RMB Valuation
It seems that March is a good time to be an affiliate company of Chinese internet giant LeEco, former LeTV. Shortly after LeCloud raked in a 1 billion yuan (150 million USD) A round, the company’s emerging online sports media unit LeSports is raising a massive 7 billion yuan (1.07 billion USD) series B, putting LeSports […]
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Market Snapshot: China’s Highly Consolidated Online Movie Ticketing Market
The Chinese box office has soared in recent years and the growth is projected to continue. The movie ticket sector is a hot target for tech companies who’ve been sniffing around conventional industries for business opportunities. China’s online movie ticket sales as a percentage of total sales reached 75% in July 2015, according to market research firm Eguan and the […]
