①The holding subsidiary Communication Brain Technology Company introduced Zhejiang Provincial Industry Fund with 0.14 billion yuan; ②After the capital increase, Wisdom Profit Dynamics remains a shareholder of Communication Brain Technology Company, holding 40% of the shares; ③The net income of Communication Brain Technology in 2023 was -25.998 million yuan.
Financial Association reported on October 21st (Reporter Chen Kang) Zhejiang Daily Digital Culture Group (600633.SH) introduced new capital into the digital technology business sector. The company announced tonight that its holding subsidiary Communication Brain Technology (Zhejiang) Co., Ltd. intends to increase capital and introduce strategic investor Zhejiang Provincial Industry Fund Co., Ltd. (referred to as the 'Provincial Industry Fund'). The Provincial Industry Fund plans to subscribe to 20% equity of Communication Brain Technology Company in two installments with cash totaling 0.14 billion yuan.
According to Tianyancha, before the introduction of strategic investment, the controlling shareholder of Communication Brain Technology was Zhejiang Newspaper Wisdom Profit Dynamic Venture Investment (Zhejiang) Co., Ltd., holding 50% of the shares; Zhejiang Broadcasting and Television Media Group holding 30%; Zhejiang Publishing United Group Co., Ltd. holding 10%; Zhejiang Cultural Industry Investment Group Co., Ltd. holding 10%.
After the completion of the above capital increase, the equity ratio of Communication Brain Technology Company changed to Wisdom Profit Dynamics 40%, Zhejiang Radio and Television 24%, Provincial Industry Fund 20%, Zhejiang Publishing 8%, Zhejiang Wentou 8%. Wisdom Profit Dynamics remains the controlling shareholder of Communication Brain Technology, and Communication Brain Technology is still included in the consolidated financial statements of the listed company.
According to the company's audit report, Communication Brain Technology was in a loss position in 2023, with a net income of -25.998 million yuan and revenue of 0.146 billion yuan.
Communication Brain Technology was established in early 2023, providing technical services to media in Zhejiang Province. It is one of the core entities of Zhejiang Daily Digital Culture Group's digital technology industry, currently in the business incubation and development stage, with main income from technical service revenue.
As of December 31, 2023, Communication Brain Technology's total assets had a book value of 0.409 billion yuan, total liabilities had a book value of 83.4847 million yuan, total equity had a book value of 0.325 billion yuan, and the total equity value assessed by the income approach was 0.568 billion yuan, with an increment of 0.243 billion yuan and an increment rate of 74.66%.
Zhejiang Daily Digital Culture Group stated in the announcement that the introduction of the Provincial Industry Fund to Communication Brain Technology Company will further thicken the strategic funds for project research and development, market expansion, promoting the company's healthy operation and sustainable development, aligning with the overall strategic development plan and long-term interests of the company.
Zhejiang Provincial Industrial Fund is an investment fund established and operated in a market-oriented manner under the leadership of the provincial government, aiming to play a guiding role in fiscal policy, implement major strategic deployment of the provincial party committee and provincial government, achieve an effective combination of government guidance and market-oriented operation, and invest in three types of industrial projects: strategic, technological, and profitable, to accelerate the promotion of scientific and technological innovation and industrial transformation and upgrading.