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The "Wandering Earth": the hard-core capital bureau of insurance and Beijing culture
Tiger sniffing net
On the evening of January 23, 2017,Beijing cultureSilently issued an announcement -
Involved in the investment of the film "Wandering Earth", the film is temporarily cultured by BeijingChinese filmCo-investment of Beijing Film Production Co., Ltd., the total investment of Beijing culture is not more than 107.5 million yuan, of which the film production cost of Beijing Culture Investment is 72.5 million yuan, and the promotion and distribution cost of Beijing culture is not less than 25 million yuan. No more than 35 million yuan.
At that time, there were not many people paying attention inside and outside the industry. After all, as early as 14 years ago, the film industry had acquired the right to adapt the "Three-body". At that time, the producer Kong Ergou also announced that the film will be in 2016. Released in the month, but repeated votes have made everyone lose confidence in Chinese science fiction films.
Although at that time, Beijing culture had already mixed up in the film and television circle, and participated in the investment and distribution of films such as "You at the Same Table", "Spirit of Hearts", "War Wolf", "I am not Pan Jinlian". However, because "War Wolf 2" was not released at the time, the public was still unfamiliar with Beijing culture.
Until "War Wolf 2" became the Chinese box office champion. Because of the joint production of "War Wolf 2", during the release of Beijing culture, the stock price rose from 13.49 yuan / share to the highest 22.42 yuan / share, an increase of 66.20%. Last year, because it was the participation and issuer of "I am not a drug god", Beijing Culture once won the first net inflow of A-share funds.
People began to notice this "magic" company. The two major shareholders behind the "China Huali Holdings Group Co., Ltd." (accounting for 15.74% of the total share capital ratio) "Fude Life Life Insurance Co., Ltd." (accounting for 15.44% of the total share capital) also surfaced.
Beijing cultural stock price trend
This year's Spring Festival, "Wandering Earth" has become another "myth" of Beijing culture.
Coincidentally, Guofan Culture Media (Beijing) Co., Ltd., director of "Wandering Earth", has "Fude Life Life Insurance Co., Ltd." behind it. In the "2018 Hurun Report", Zhang Jun and Tao Meizhen, the leaders of Life Life, ranked 76th with a value of 34 billion. Tao Meizhen’s twin sister Tao Rong (Tao Feijun) is the vice chairman of Beijing Culture.
A network of fine capital has taken shape.
From Ding Mingshan to Song Song
The predecessor of Beijing culture was “Jingxi Tourism”. In 1994, Jingxi Tourism signed a 25-year contract with the Mentougou Tourism Bureau and the Agriculture and Forestry Bureau to win the management rights of Lingshan, Miaofengshan, Baihuashan, Tanzhe Temple and Jietai Temple “Sanshan Two Temples”.
In 1998, Jingxi Tourism landed on the main board market of the Shenzhen Stock Exchange.
After that, the tourism situation in Beijing West was not optimistic. Four attempts were made to reorganize with real estate companies, including Tianjin Gold.Huayuan Real Estate, Zhongmai Group, Beijing Kunlun Temple. The first three failed, and only Kunlun’s reorganization was completed in 2005. Beijing Kunlunyu is a wholly-owned enterprise of Fengcun Economic Cooperative in Yongding Town, Mentougou District. After the completion of the reorganization, “Jingxi Tourism” was renamed “Beijing Tourism”.
But this restructuring did not reverse the loss. Until July 2010, Huali Holdings invested about 538 million yuan to acquire 26.67% of the company's shares, plus the transaction in the secondary market, and finally won the controlling stake in Beijing culture with 27.42% of the shares, becoming the company's first Major shareholder.
Now it seems that there is no clue to track why the then Huali Holdings had to take over the “bad mess” of Beijing tourism, which has suffered losses and debts for years. The only connection point that can be found is Mentougou - the main temple of Beijing Tourism is Tan Mengou, Kunlun Temple is also Mentougou, and the actual controller of Huali Group, Ding Mingshan, served as a member of the CPPCC and vice chairman of the Federation of Industry and Commerce. .
In fact, in addition to Beijing tourism, Huali also invested in Chongqing Hongfan Industrial Co., Ltd., Inner Mongolia Huameng Mining Investment Co., Ltd. and so on.
Ding Mingshan (first from left)
However, the entry of Huali Holdings has not been able to reverse the situation - in 2011, 2012, 2013, the company's operating income decreased year by year (176 million, 166 million, 1.62 billion).
At that time, it was rumored that Ding Mingshan and Wang Jianlin had a very good personal relationship and had done a lot of things together. Although the specific details of the two people did not know each other, Wang Jianlin did send a "God assist" to Ding Mingshan. In 2013, Wanda Cinema (002739) will be listed on the A-share market, but Song Ge, the general manager of Wanda Films at the time, left the company. This Song Song is now the chairman of Beijing Culture.
In "War Wolf 2", Song Song guest starred "Fan Ambassador"
Song Song is a "learning tyrant." It is said that both parents work on CCTV, so he only filled in two volunteers during the college entrance examination, Tsinghua University and Guangyuan (China Communication University). In 1990, Song Ge graduated from the Tsinghua Thermal Energy Automobile Department and made some investments. He served as the general manager of Tsinghua Unisplendour Co., Ltd. and a partner of Safran Asia Investment Fund.
In 2005, Song Song began to invest in movies. The first time he shot, he hit the box office champion of the year, and Xu Ke’s "Seven Swords".
In 2008, Song Ge Ventures established Perfect World Film and Television Company, invested in the first "Little Girl Movie" and "Perfect" in China, and then continued the same style, leading the development of "Love 33 Days".
That is to say, during the "Lost Love 33 Days" project, Song Song left the perfect time and space (it is said that because the partners feel that the film industry is too risky to be a TV series), he came to Wanda Film as the general manager.
Before joining Wanda, "Deep Loud" found that Song Ge also managed a Starry Land Culture Media Investment Fund as a partner. The fund was jointly initiated by Xiong Xiaoge, the founding partner of IDG Capital, and the chief partner of Safran Fund. Noah Wealth was responsible for the fundraising of RMB 1.0-1.5 billion.
According to the 21st Century Business Herald, the fund has suffered from LP funding defaults, in part because LP questioned Song Song’s relative preference for balancing the interests of the funders of the Saifu RMB Fund and the Star Trek Fund, and doubted whether the fund exists. For the possibility of IDG Capital's profit taking out of the buy order, some LPs require Star Trek Fund to clarify related transactions and establish a firewall. Coupled with the song "21-year-old party" invested by Song Song as the director of the fund and the performance of Beiqing Airlines are not up to expectations, the storm will not be able to calm down in a short time.
After leaving the Starry Land Fund, Song Song began to follow the trend. His record in Wanda includes "Beijing Love Story", "Police Story 2013", "Looking for Dragons" and so on.
There are also some regrets: According to media reports, Xu Wei once called Song Song and asked if he would be willing to invest in his own directorial debut "Taiwan". Although Song Song said that he wanted to vote, it is said that the Wanda OA system has to go through a one-month process. Xu Wei couldn't wait, and gave the film to Wang Changtian, who was able to sign the contract immediately. Another time is Stephen Chow's "Journey to the West", 80 million buyouts but can not watch the film in advance, Song Song hesitated to miss.
In 2013, Song Ge left Wanda and returned to the light and shadow Rising, which he founded in 2010, which is the later Ferris wheel culture. The film "You at the same table" and "Heart and Heart" are actually the projects that Song Song began to operate during the Ferris wheel culture.
Beijing tourism, which is in urgent need of transformation, began to intersect with Song Song.
In December 2013, Beijing Tourism signed the “Equity Purchase Agreement” with the famous Tibetan monks (Song Song as legal person) and Song Ge, and purchased the Ferris wheel culture at a price of 150 million yuan. Song Ge served as the vice chairman of Beijing Tourism. At the same time, Song Song conducts performance gambling - the performance from 2014 to 2017 is not less than 15.37 million yuan, 24.41 million yuan, 30.43 million yuan and 40.22 million yuan. The unfinished part is cash compensation from Song Ge.
In 2014, “Beijing Tourism” was renamed “Beijing Culture” and officially entered the film and television entertainment circle.
After the Ferris wheel, Beijing Culture acquired three more companies:
· Century Partner (1.35 billion), the core team includes film and television producer Bian Xiaojun, famous screenwriter Yan Geling, famous director Zhang Li, etc., and the actual controller Xiao Xiaoyu is the formerHuayi BrothersThe person in charge of the film and television drama is now the vice chairman of Beijing Culture, second only to Song Ge’s "No. 2 character."
· Zhejiang Xinghe (750 million), including more than 50 signing artists, directors and screenwriters including Chen Daoming, Lu Yi, Guan Zhilin, Hu Jun, Zhang Fengyi, Liang Jiahui, Liu Jialing and Zhou Dongyu. The actual controller is the gold medal agent Wang Jinghua.
· Lhasa group image (420 million), the actual controller is former Huayi brothers ace producer Chen Guofu. (In the end, the Lhasa group acquisition was not approved)
In addition, Beijing Culture also increased its capital for the subsidiary company Amy (Beijing) Cinema Investment Co., Ltd. (Amy Cinema).
Insurance life life
The problem came. Before Song Song came, Beijing’s cultural performance was bleak, and there was no money in the books. In 2014, the overall revenue was only over 400 million. How can I acquire so many companies in an instant?
In fact, the Beijing culture's acquisition of Century Partners, Zhejiang Xinghe, and Lhasa Group is not self-owned, but is raised through non-public. This involves the largest subscriber, and is currently the second shareholder of Beijing Culture - Fude Life Life.
Among the 3.3 billion funds used in the acquisition, life life has exceeded 1.3 billion, and it has become the largest shareholder of Beijing culture, holding 15.81%.
How the "Life Department" made a fortune, and the story of how Zhang Jun, the helm, entered the life of the life is very exciting, so I won't go into details here. After the funds from Life Insurance, the insurance giant, the directors of Huali Department gradually withdrew. Chairman Xiong Zhenyu retired from the vice chairman and former president Deng Yong resigned.
Song Song was promoted to the chairman of the board, and Xiao Xiaoyu served as the vice chairman.
Zhang Jun (left), Chairman of Life Life Insurance Co., Ltd., Vice President of Life Partner Care Fund, Tao Meizhen (right)
One guess that there is no "real hammer" is that Zhang Song is behind Song Song.
Song Song previously served as the manager of the Houde Qianhai Fund. According to industry and commerce, the Houde Qianhai Fund was established in 2013, when Life Life invested 9 billion yuan, accounting for 89.5%. In 2015, Life Life took over Chang'an No. 8 in the vicinity of Beijing Huamao, and Song Song was also on the board of directors.
In the following years, Beijing culture “opened up” in general, and the film “The Same Table” won 457 million box office and profit of 50 million at a small cost of 20 million. After that, China United Film Co., Ltd. boldly guaranteed the bottom of the heart, and the 500 million guarantees easily won the box office of 1.167 billion. These two films brought 100 million yuan of income to Beijing culture, more than three times the net profit of 2013. .
Since then, Beijing culture has participated in Wu Jing’s "War Wolf 2", Wu Ershan's "Ghost Blowing Lights", Ding Wei's "Railway Flying Tiger", Feng Xiaogang's "Fanghua" investment, all profitable Very rich.
"Wandering Earth" is also a "masterpiece" of Beijing culture and life life. In addition to Beijing culture, Life Life also appeared in the company director Guo Fan.
On January 3, Beijing Culture released an announcement on the progress of related transactions in "Wandering Earth", agreeing to sign the "Joint Investment Agreement" with Guofan Culture Media, and Guofan Culture Media added an additional investment film "Wandering Earth" with an additional investment amount of 900. Ten thousand yuan. As early as May 28, 2018, Beijing Culture also released a notice of the same related party progress, Guo Fan Culture Media invested in "Wandering Earth" 30 million.
As Fude Life Life Insurance Co., Ltd. is a shareholder with more than 5% of the company's shares and is a shareholder of Guofan Cultural Media's shareholder, Zhangzhou Jianyuan Investment Management (Shanghai) Center (limited partnership), Guofan Culture Media is a company association. Party, the transaction constitutes a connected transaction.
Associate Director Tao Rong abstained from voting. This Tao Rong is the "small nephew" of Zhang Jun, the leader of life life, and the sister of Tao Meixi. Tao Rong (Tao Feiqi) graduated from the Chinese opera. He used to be a teacher in the Chinese opera and was once a famous actor. The most famous film and television work is "Snow Leopard" (played as Chen Yi).
Tao Rong (Tao Feiyu) plays Chen Yi (left) in "Snow Leopard"
Life Life is the second largest shareholder of Beijing culture and one of the indirect investors of director Guo Fan. It is no wonder that some industry insiders speculate that the biggest beneficiary of "Wandering Earth" will be Zhang Jun.
However, the battle between Life Life and Huali’s Beijing Cultural Control Rights continues.
Prior to 2016, Zhang Jun was briefly taken away by Liu Zhigeng to assist in the investigation. During that time, his wife and sister Tao Rong sat in Beijing culture. During that time, Huali Holdings increased its shareholding ratio, surpassing life and life, and regaining control of Beijing culture.
Even today, the gap between the two is very small. This poses a big worry for investors - whether the strategic continuity of Beijing culture can be guaranteed, and the dispute between the first and second shareholders will not "fall" the development of the business.
After all, the management rights of many scenic spots won by Beijing Culture in 1994 are about to expire in 2019. Once the “tourism” business is lost, all the burdens are placed on film and television entertainment.
Today, the "Wandering Earth" box office has exceeded 1 billion. In addition to Beijing Culture and Guofan Culture Media, Wu Jing's Dengfeng International is also one of the investors. It was rumored that Wanda had divested the money that had originally invested in "Wandering Earth". And "Love 2" starring Bai Lili has Wujing's 60 million investment share.
In addition, Ali Pictures, Tencent Pictures, etc. are also listed units.
Everyone collects firewood with high flames. According to the current momentum, "Wandering Earth" has already stabilized the top spot in the Spring Festival. Of course, in addition to the hard work of the founders, it is also inseparable from the management of the capital behind it.
Editor in charge: Li Limeng RF13188
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