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Dianguang Media sells oil painting "Yellow" wants to keep up with Huawei Shenzhen Stock Exchange: Is it possible? – Huawei, 100 million, cooperation agreement, radio and television station, – Daily Economic News noted



2018-12-24 05:18:41 Source: Daily Economic News

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At the end of the year, Dianguang Media (000917, SZ) announced the sale of Xu Beihong's oil painting "Yugong Yishan" for 208,800,000 yuan, causing major market concerns and attracting the Shenzhen Stock Exchange. On December 17, Shenzhen Stock Exchange issued a letter worried about Dianguang Media and requested Dianguang Media to disclose the need for the transaction, fairness pricing and related issues.

This letter of concern requires Dianguang Media to respond by December 21, but after the press release no response has been received. On the evening of December 21, Dianguang Media issued a statement on the sale of art to Hunan Radio and Television Station and said that art business has always been one of the company's main activities. At the beginning of the year, the company sold some works of art. The overall event was made and the transaction price of 208.8 million yuan was objective and fair. Ultimately, Dianguang Media said: "To basically avoid misinterpretation and speculation, the company has carefully negotiated with Hunan Radio and Television, and both parties decided to terminate this art trade."

In addition to the many doubts about the sale of "Yugong Yishan", Diaspang Media received the "star" company a letter from the Shenzhen Stock Exchange in the evening of December 21, because Dianguang Media announced "high-profile" with Huawei the day before. The company reached a strategic cooperation agreement to investigate the collaboration on the 5G field.

Termination of sale of oil paintings to related parties

In the evening of December 14, Dianguang Media released a subsidiary of Hunan Cable TV Network (Group) Co. (hereinafter referred to as the Hunan Cable Group) to sell the oil painting of "Yugong Yishan" to Hunan by 208.8 million yuan (including treasure). News from radio and television stations. Due to the integration reform of Hunan Radio and Television in the second half of 2018, Hunan Radio and Television became a related party in Dianguang Media and the transaction constitutes an associated transaction.

Perhaps the company hadn't expected it, and the news of the sale of a work of art would cause so much concern. The reporter noted that the reason for this sales decision is: In July this year, Dianguang Media just listed the shares in Shenzhen Yikesiqi Advertising Co., Ltd. with a price of 267 million yuan. However, the three quarterly reports of Dianguang Media still showed the company lost 135 million yuan in the first three quarters. In the year 2018, it was not possible to determine if any losses were to be lost. At the end of the year, Dianguang Media announced the decision to sell "Yugong Yishan". This decision was widely interpreted as a related "transfusion to save lives."

Soon, the broadcasting media also received a letter of interest from the Shenzhen Stock Exchange. The Shenzhen Stock Exchange requires Dianguang Media to submit the relevant explanatory material to the management department of the Shenzhen Stock Exchange before December 21 and meet the information disclosure obligations in a timely manner.

But from the press release on December 23, the response to this letter of concern has not yet come to the official website of the Shenzhen Stock Exchange. Instead, the company announced that it had terminated the sale of "Yugong Yishan".

According to Dianguang Media, the company has been engaged in art business since 2006. Over the past 10 years, it has invested more than 200 works of art with a cumulative investment of more than 1.2 billion yuan. Some works have been withdrawn from the market in recent years and have made major investments. return. Dianguang Media stressed that on 16 May this year, its Board of Directors reviewed and approved the "Proposal for the approval of management for the sale of partial works", which included Xu Beihong's oil painting "Yugong Yishan".



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