Securities code: 300426 securities abbreviation: Zhejiang Talent Television & Film Co.Ltd(300426) Announcement No.: 2022-004 Zhejiang Talent Television & Film Co.Ltd(300426)
Announcement on the establishment of a wholly-owned subsidiary
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
1、 Overview of foreign investment
(I) basic information
Zhejiang Talent Television & Film Co.Ltd(300426) (hereinafter referred to as “the company” or ” Zhejiang Talent Television & Film Co.Ltd(300426) “) plans to use its own funds to invest in the establishment of Zhejiang blue media culture and Technology Co., Ltd. (tentative name, subject to the final registration), and authorizes the company’s management to handle matters related to the investment and establishment of subsidiaries.
(II) review
The company held the 21st Meeting of the 4th board of directors on January 14, 2022, deliberated and passed the proposal on the establishment of wholly-owned subsidiaries, and authorized the company’s management to handle matters related to the investment and establishment of subsidiaries. According to the relevant provisions of Shenzhen Stock Exchange GEM Listing Rules (revised in 2020) and Zhejiang Talent Television & Film Co.Ltd(300426) articles of association, this foreign investment is within the deliberation authority of the board of directors of the company and does not need to be submitted to the general meeting of shareholders for deliberation.
(III) not constituting related party transactions
This foreign investment does not constitute a connected transaction, nor does it constitute a major asset reorganization as stipulated in the administrative measures for major asset reorganization of listed companies.
2、 Basic information of the proposed subsidiary
1. Name of proposed subsidiary: Zhejiang blue media culture and Technology Co., Ltd. (tentative name, subject to final registration);
2. Registered capital: 5 million yuan;
3. Legal representative: Jiang Qiang
4. Company type: limited liability company;
5. Company domicile: Zhejiang International Film and Television Center, No. 399, Honghui Road, Xiaoshan District, Hangzhou;
6. Contributor and proportion of contribution: Zhejiang Talent Television & Film Co.Ltd(300426) holding 100%;
7. Business scope to be applied for: creation, planning and trading of film and television scripts; Artist brokerage, performance brokerage, cultural brokerage business, undertaking exhibition activities and other film and television businesses; Provide consulting services for e-commerce solutions; Training services (excluding items requiring approval for vocational skills and education and training); Design, produce, publish and act as an agent for all kinds of advertisements at home and abroad; Network culture management; Dissemination of audio-visual programs through information networks; Internet live broadcasting service; Internet information services; Production and operation of radio and television programs, etc.
The above contents shall be subject to the final approval and registration of the administrative department for Industry and commerce.
3、 Purpose of foreign investment, impact on the company and existing risks
(I) investment purpose
With the progress of science and technology and the improvement of living standards, people’s demand for communication network has developed from simple voice call and multimedia web browsing to live interaction, high-definition video playback and so on. Video is not only a unilateral way of entertainment or advertising presentation, but also an interactive information carrier, and the application scene is also expanding and deepening. In order to adapt to the development and change of China’s video industry, fully mobilize the existing superior resources, build new development pattern and promote the future high quality development, the company plans to set up a subsidiary in Hangzhou, and pilot layout three aspects: first, it is to develop new media content such as micro variety, Kwai Ju, Chinese video, etc. with the platform of byte beating and fast hand. Second, it plans to carry out live broadcast e-commerce business; Third, it plans to provide star live training services. (II) impact on the company
This investment is conducive to further expand the company’s business scope, enhance the company’s market competitiveness and sustainable profitability, and is of positive significance to the company’s future development.
This investment will not have a significant impact on the company’s financial situation and operating results in the short term, and there is no damage to the interests of the company and shareholders.
(III) existing risks
The establishment of subsidiaries by this investment still needs the examination and approval of relevant authorities such as the superior competent unit and the administrative department for Industry and commerce. There is uncertainty about whether it can pass the relevant examination and approval and the time of final examination and approval. In addition, after the establishment of the new company, it may face the influence of macroeconomic, industrial environment, market changes and other factors in the business process, and there are certain market risks, operation risks and management risks. Subsequently, the company will pay close attention to the establishment and progress of subsidiaries, actively prevent and respond to various risks that may be faced in the development of subsidiaries, and timely perform the obligation of information disclosure in strict accordance with the requirements of relevant laws, regulations and normative documents.
Please invest rationally and pay attention to investment risks.
It is hereby announced.
Zhejiang Talent Television & Film Co.Ltd(300426) board of directors
January 17, 2022
