Xinhua Media to Acquire Interface Caixin via Share Issuance, No Cash Involved
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Xinhua Media announced after market close on September 18 that it will acquire 100% equity of Jiemian News & Cailian Press from 13 counterparties, including Wenxin Investment and Shanghai Shangtou Holdings, entirely through share issuance with no cash payment or supporting fundraising. The issue price is set at RMB 3.93 per share, a nominal discount of approximately 25.99% from the pre-suspension closing price of RMB 5.31 on September 4. The pricing benchmark date is the announcement date of the first board resolution on this restructuring. Notably, HKSCC Nominees Limited significantly increased its stake in Xinhua Media prior to the suspension, becoming a major shareholder. Unaudited financial summaries show Jiemian News & Cailian Press had net cash flows from operating activities of RMB 122 million and RMB 222 million for fiscal years 2024 and 2025, respectively, and net profit attributable to parent company shareholders of approximately RMB 108 million in fiscal year 2025. The final asset valuation, total transaction consideration, and performance compensation commitments remain undetermined and will be disclosed in the formal restructuring report.
Source report
Date: September 18 (after market close) Source: Shanghai Securities News
Transaction Overview
Xinhua Media has announced a restructuring plan to acquire 100% equity interest in Jiemian News & Cailian Press (the "target assets") through a share issuance. The transaction involves no cash payment and no supporting fundraising.
Key Terms
- Issue Price: RMB 3.93 per share
- Pricing Benchmark: Not lower than 80% of the company's average trading price over the 60 trading days preceding the pricing benchmark date
- Pre-suspension Closing Price (September 4): RMB 5.31
- Nominal Discount: Approximately 25.99% compared to the pre-suspension closing price
Shareholder Activity
According to Xinhua Media's disclosure of top ten circulating shareholders prior to suspension, compared with the semi-annual report data for 2026:
- HKSCC Nominees Limited significantly increased its holdings from 4,265,459 shares to 9,103,152 shares, becoming a major shareholder.
Counterparties and Structure
The company plans to acquire the target assets from 13 counterparties, including:
- Wenxin Investment
- Shanghai Shangtou Holdings Co., Ltd.
- Shanghai Zhongyuan No. 1 Equity Investment Fund Partnership (Limited Partnership)
- Yantai Xinzhen Tianying Equity Investment Center (Limited Partnership)
- Shanghai Guoxin Venture Capital Co., Ltd.
- China Internet Investment Fund (Limited Partnership)
- Shanghai Zhongyuan No. 2 Private Equity Investment Fund Partnership (Limited Partnership)
- Shanghai Zhongyueyuan Enterprise Management Center (Limited Partnership)
- Shanghai Xuhui Capital Investment Co., Ltd.
- Jinan Jiatai Investment Partnership (Limited Partnership)
- Shanghai Zhongyuan Hejie Enterprise Management Center (Limited Partnership)
- Jinan Botai Investment Partnership (Limited Partnership)
- Shanghai Securities Information Co., Ltd.
Upon completion, Jiemian News & Cailian Press will become a wholly-owned subsidiary of Xinhua Media.
Financial Highlights (Unaudited)
| Metric | FY 2024 | FY 2025 | |--------|---------|---------| | Net cash flows from operating activities | RMB 122 million | RMB 222 million | | Net profit attributable to parent company shareholders | — | Approximately RMB 108 million |
Pending Items
As of the disclosure of the preliminary plan, the audit and valuation work for Jiemian News & Cailian Press has not yet been completed. The following remain undetermined and subject to further negotiation:
- Final asset valuation
- Total transaction consideration
- Performance compensation commitments
These details will be disclosed in the formal restructuring report.
Source
东方财富网-A股公司Eastern
Part of this Story
Xinhua Media to acquire Jiemian and Cailian Press via share issuance at RMB 3.93 per share