The behind-the-scenes reading of the West Hill game of Jinshan Games: Management's performance on gambling

In the valuation of 800 million yuan in the West Hill MBO (management buyout), behind the completion of management and Jinshan Group on the performance of the bet, but the conditions are not harsh. The future management of the new West Hill will also be adjusted. And this is only http://www.aliyun.com/zixun/aggregation/23310.html "> Jinshan Game 2011 To achieve a comprehensive restructuring of the first step."

Management to complete MBO on gambling performance

Yesterday afternoon, Jinshan Group officially issued a public announcement, announced its game studio Xishan home of MBO completed, the new West Hill will control the Chengdu Xishan Habitat, Zhuhai Jinshan and other departments. 26 of the founding employees of West Hill, 189 million Hong Kong dollars in exchange for the new West Hill 20% of the equity, and Jinshan Group enjoys the remaining 80% of the equity.

The new West Hill residence in the MBO in the valuation of HK $945 million, about 800 million yuan.

Of the 189 million Hong Kong dollar MBO funds, only 20% (about HK $38 million) were raised by 26 founder employees, while the remaining 80% (about HK $151 million) were loans from Jinshan group. It is noteworthy that the loan only agreed on the rate of repayment, but did not mark the exact repayment period.

Jinshan Game CEO, the new West Hill chief executive Zou told Sina Science and technology, Jinshan Group will be the annual assessment of the new West Hill home performance, and as the exercise of the right to terminate the loan standards.

The threshold is the annual net profit of 90 million yuan.

If it is below this value, the team participating in this MBO may need to pay off all the loans within five working days. But this is not a demanding requirement. It is reported that the West Hill home last year's net profit has exceeded 100 million yuan.

Although the various parties to the West Hill home restructuring generally optimistic, but not every employee want to participate in it. After all, the employees involved in MBO not only have to pay for the shares, but also need to make a commitment in terms of service period and non-competition. In the announcement, 26 participating in the Western hills of MBO employees name, also did not disclose.

The source said that at least one of the five-person decision-making committees was not involved in the MBO and planned to work on the adjustment after the year. The members of this committee include Zou, Zhan Zhen Yang, Tang Hongliang, Chen Feizhou, Shen Feng light.

Golden Hill game full reform in the year

Jinshan Group will be the West hill of the MBO, known as the first step of the Golden Hill game reform. Obviously this means that the transformation of the Golden Hill game will continue. This is just the tip of the iceberg.

In the following year, the other games of the Golden Hill Game Studio, will be modelled on the model of West Hill to restructure, and in Beijing Jinshan Game Department (referred to as Beijing Jinshan), will become a specialized operation center. The entire Jinshan game's business will be in a clear division of labor on the basis of all to achieve relatively independent subsidiaries of the operation.

Full restructuring will be completed within the year, when the concept of Kingsoft game will be completely different from the present.

In accordance with the above adjustment plan, the new West Hill home will be to Beijing Jinshan licensing game operations, to obtain the corresponding profits. and the joint operation and other matters from the Beijing Jinshan led, the new Xishan habitat does not specifically intervene in different operating modes, but according to the Agreed framework of authorization, access to the corresponding operating profit.

In connection with Sina Science and technology, Zou said he as the Executive Director of Jinshan Group, will participate in other studio restructuring process, but not necessarily participate in the final MBO. After all the above adjustments, Zou also plans to retire from the role of CEO of Jinshan Games, focusing on the new West Hill and other work.

For the Western hills of MBO, Jinshan Chairman and CEO begged Baijun said the move will "improve the system from the personnel brain drain problem." Through restructuring, to provide managers with direct participation in the ownership, operation and operation of the company's opportunities, will also promote them to make more contributions to the West Hill, and then enhance the overall value of the West Hill.

"The transformation of the West Hill to the whole company is a good thing," in this dialogue, in charge of the operation of the Golden Hill games President Wu Ying-Min also said to Sina technology.