Online Bookstore Nine long scholar to board: had wanted to sell Murdoch

Gem opened the opening of China's capital market, a pool of spring, Huayi Brothers in advertising and film and television industry ups and downs after 15 years finally realize their own "price", but also let many cultural enterprises head to see their own prospects.

Shanghai Nine long scholar Culture Industrial Co., Ltd. (hereinafter referred to as "nine long scholar") chairman of the Huang Yuhai is one of them, he has already developed a years within the plan to land the gem. For this reason, one of the most important tasks for the senior Publisher is to make the company more profitable in order to achieve the basic conditions of the gem listing, of course, it is not too easy.

Sold to Murdoch

Compared to other modes of capital operation, Huang Yuhai is more hopeful about the gem.

The nine-time Scholar's "99 online bookstore" is the largest online bookshop in southern China, second only to the Network of excellence and Dangdang in the country. The site was set up by 10 shareholders, registered capital of 30 million yuan, just approved by the SFC listed Shanghai Xujiahui Mall Co., Ltd., the sixth largest natural person shareholder, writer Yu Qiuyu, is also 99 of the online bookstore, one of the shareholders. But Huang Yuhai did not disclose the shares of Yu Qiuyu, said only the remaining among the top two or three shareholders.

Compared with previous years, this year most let Huang Yuhai excited is: 99 online bookstore profit. Although the profit is expected to be only 3 million or 4 million yuan, but he thought it was a major success of the B to C industry, because the industry did not have a business is profitable before.

This year's earnings also confirmed Huang Yuhai's determination to land on the gem, which he believes is the best way to finance. The "best" conclusion is not arbitrary. Over the years, he has tried a lot of financing options, such as venture capitalists, to tackle the problem of lack of funds.

Since 2007, Huang Yuhai has been in close contact with Rupert Murdoch's News Corp, hoping the latter could be bought as a strategic investor, eventually fruitless-though the deal was signed, and Mr Murdoch gave up the deal in the face of the financial crisis.

"This has taught me a lot, and it has made me rethink the consequences of being acquired-that will lose control of the business." And for our rapid development, the need for a large number of capital enterprises, the gem can give us greater autonomy. "Huang Yuhai said.

It's better than going to the gem.

Huang Yuhai Financing Dilemma is also a common problem for most small and medium-sized enterprises, even some of the enterprises have been invested in the venture, but also by capital forced to be out of breath.

In the 2007, the Giant Education Group (hereinafter called "Giant Education") received a total of 20 million dollars of venture investment from Qiming Venture and Haina International Group (SIG). Yin Xiong, chairman of the giant's education board, told a forum on 2nd this month that VCs would like to be more involved in the company's strategic development, which poses a challenge to the autonomy of entrepreneurs.

Therefore, than to go, or the gem is reliable. But small and medium-sized enterprises want to land on the gem is not easy. Gem listing conditions clearly stipulates that the last two years of net profit must be not less than 10 million yuan, and sustained growth, or the last year profit, and net profit of not less than 5 million yuan, the last year of business income of not less than 50 million yuan, the last two years, the growth rate of business income is not less than 30%

It is not easy for Huang Yuhai to finish these attributes. To this end, he began this year to try to diversify business modules, in addition to the 99 online bookstore expansion, but also launched a "99 Learning Network" and mobile platform. He hopes to create a "content for Wang and channel for the king of the new profit model."

Government multi-sector booster

Financing difficulty has always been the bottleneck of the development of cultural enterprises. More than 1600 Chinese listed enterprises, of which only 13 of cultural enterprises, less than 1%, public information shows that the bank for cultural and creative loans are only one, that is, China Merchants Bank for the film "assembly Number" lending.

The reason behind this is that cultural enterprises, especially cultural and creative enterprises, is not a conventional industry, it is difficult to have a stable cash flow to support the bank's risk assessment. Shusong, deputy director of the Institute of Finance at the Chinese Academy of Social Sciences, said Huayi brothers (300027) SZ) listed in the capital market is divided, because the film industry and many industries are not the same, it is difficult to its gross margin, growth, such as the space to make stable expectations.

Therefore, under China's national conditions, the Government has become an important source of funds. According to the latest statistics, the value added of the cultural creative industry in Beijing has surpassed the traditional industries such as real estate, wholesale and retail industry, accounting for the proportion of GDP in the whole city to 11.8%, second only to the financial industry in the tertiary industry.

As for the new growth point of Beijing Economy, Beijing adopts the method of direct government financing, in October this year, the municipal government raised 50 billion yuan through financial direct investment, social financing and other ways to develop "Chinese film and television animation City", and set up special funds to invest 100 million yuan annually.

Beijing municipal government officials told CBN reporters that Beijing has been a survey of the city is suitable for the gem listed enterprises, more than 200 enterprises to meet the requirements, plans from next year onwards to apply for listing, including cultural and creative industries accounted for a small proportion.

Li Xiaolei, deputy director of the Cultural Industry Division of the Ministry of Culture, said on October 31, "China's third Beijing cultural and creative industry investment and Financing forum", the next step will be to focus on the development of cultural creativity, video, distribution, picture exhibition, digital content, animation and other cultural industries. He also stressed the need to increase financial support, including the support of qualified cultural enterprises into the gem.

But in the gem, after all, is a small number of enterprises, can not fundamentally solve the cultural industrialization of the huge financial resources required. This regard, Shusong's view is that we should see the guiding role of the gem, it can guide the social funds to find the future may be listed in those cultural and creative enterprises, although the listed cultural and creative enterprises may be only 50, 100, but attracted to the funds can be transformed thousands of tens of millions of enterprises.

Conditions for the listing of educational enterprises "on the Road"

Education industry on the gem of the "coveted" also unwilling to people. New Oriental Education Technology Group (Edu.nyse, hereinafter referred to as "New Oriental") Chairman Yu Yu said 2nd, the Ministry of Education has sent a special person to the new Oriental research, the ultimate goal of the research is to develop Chinese education enterprises at home and abroad to market conditions.

New Oriental was listed on the NYSE in September 2006 and is the only Chinese educational institution to be listed overseas. According to Mr Yu, as China's training industry has developed rapidly in recent years, international capital has become more popular with China's education market after the successful listing of the new Oriental, so the authorities are aware that the time has come to establish a listing specification for educational institutions.

Mr Yu said the education authorities were largely in a state of lack of knowledge about the listing of educational institutions, and the Ministry's investigation into the new Oriental study was mainly to understand the basic requirements for the listing of educational institutions, such as the relationship between schools and companies.

"Government research is not about restricting the listing of educational institutions, but about setting a standard, and the government is most worried that the industry will not come back if it erupts." "said Mr Yu.

Gem opened 3 days to roller coaster general crash, the slightest impact on Huang Yuhai mood. He maintained a common heart, even the future has a very optimistic expectation: "I think this plate will gradually mature, when we go public, the stock market and shareholders should be more mature." ”