Tencent Securities News (Bei Xiang)China Broadcasting HoldingsAfter opening sharply this morning, it continued to rise, rising as high as nearly 85% in intraday trading, reaching as high as HK $0.455. By midday, China Broadcasting Holdings was up 51.6 per cent at HK $0.37, with a turnover of HK $68.29 million.
Source: Futu Securities
The company announced yesterday that it had received notice from Guoguang Global Media Holdings Co., Ltd., the controlling shareholder of the domestic joint venture Guoguang China broadcast Media Technology Co., Ltd., that it planned to adjust its shareholding structure. The shareholder control relationship between "Guoguang Holdings" and "Guoguang China broadcast" will be changed.
Guoguang Holdings is controlled by Guoguang Media Development Co., Ltd., which is directly under China Radio International, as the leading shareholder, and Changzhou Xingshun Culture and Media Co., Ltd. as another shareholder, with a 50% stake each. Guoguang Holdings plans to include two new shareholders in this equity adjustment, namely, China Radio and Television Network Co., Ltd., andCitic Guoan(000839.SZ). If the equity change structure of "Guoguang Holdings" is completed, it will be 25% for Guoguang Media, 25% for China Radio and Television, 25% for CITIC Guoan and 25% for Xingshun Culture.
It is reported that Guoguang Media and China Radio and Television signed the Cooperation Agreement on February 12, 2018, and Guoguang Media plans to transfer its 25% stake in Guoguang Holdings to China Radio and Television. Xingshun Culture and CITIC Guoan signed the Cooperation Agreement on February 13, 2018, and Xingshun Culture plans to transfer its 25% stake in Guoguang Holdings to CITIC Guoan.
Earnings rose 26 per cent year-on-year to $3.632 million; losses attributable to shareholders narrowed 40 per cent year-on-year to $3.532 million; losses per share were 19 cents per share, according to China Broadcasting Holdings' 2017 interim results. According to the announcement, the increase in revenue was mainly attributable to an increase of $73000 in printed circuit board trade and an increase of $674000 in rental income from televisions.