Xinhua Media Plans to Acquire Jiemian Cailianshe, Price Yet to Be Set
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On September 18, Xinhua Media (600825) announced a plan to issue shares to acquire 100% of Interface Finance (Cailianshe), a financial news and information service provider under Shanghai United Media Group. The transaction price has not been finalized, pending audit and valuation reports subject to state-owned asset filing. Upon resumption of trading on September 21, Xinhua Media's stock hit the daily limit up at 5.84 yuan per share, giving it a market cap of 6.102 billion yuan. The share exchange price for the sellers is set at 3.93 yuan per share, which does not reflect Interface Finance's valuation. Unaudited data shows Interface Finance had revenue of 648 million yuan and net profit of 108 million yuan in 2025, and revenue of 318 million yuan and net profit of 89 million yuan in the first half of 2026. The article notes that any current valuation estimate is speculative. Interface Finance, which operates Cailianshe, Interface News, and the科创板日报 (Sci-Tech Innovation Board Daily), previously filed for an IPO in 2021 but has now opted for acquisition by Xinhua Media. The final valuation will be disclosed in a formal restructuring report and is subject to shareholder and regulatory approval.
Source report
Shanghai, September 21 — If the financial news platform Interface-Cailianshe, which you may use daily, were to be valued as an A-share asset, what would it be worth?
On the evening of September 18, Xinhua Media (600825) disclosed a preliminary plan to issue shares to 13 transaction counterparts to acquire 100% equity of Interface-Cailianshe. However, the plan explicitly states that the audit and valuation of the target company have not yet been completed, and the transaction price remains undetermined. According to regulations, the final valuation must be based on an appraisal report filed with state-owned assets authorities and agreed upon by all parties. Therefore, as of the resumption of trading on September 21, there is still no official figure for what Interface-Cailianshe is "worth."
Nevertheless, on the first day of trading resumption on September 21, Xinhua Media's shares hit the daily limit up, closing at RMB 5.84 per share, giving the company a total market capitalization of RMB 6.102 billion.
What is confirmed is that Xinhua Media has set the share exchange price for the transaction counterparts at RMB 3.93 per share. It is important to note that this price refers to Xinhua Media's own stock price and does not involve the valuation of Interface-Cailianshe.
Unaudited operational data for Interface-Cailianshe shows:
- 2025: Revenue of RMB 648 million, net profit attributable to parent company of RMB 108 million
- First half of 2026: Revenue of RMB 318 million, net profit attributable to parent company of RMB 89 million
These figures reflect profitability, not market value.
Why can't a rough estimate be made? Some might attempt to apply a "profit multiplied by price-to-earnings ratio" approach to arrive at a ballpark figure. However, Interface-Cailianshe's final profit figures are still subject to audit, and there are no comparable transaction prices available. Any claim about "how many billions it is worth" at this stage is speculative and lacks a factual basis.
What is Interface-Cailianshe?
Interface-Cailianshe is a financial new media and financial information service provider supervised and managed by the Shanghai United Media Group. The platforms you use — including Cailianshe, Interface News, and the科创板日报 (Sci-Tech Innovation Board Daily) — are all part of this entity. Its business covers commercial information, financial news, and internet advertising.
Notably, Interface-Cailianshe initiated an IPO辅导 (IPO guidance) process in 2021 with the intention of listing independently. It has now changed course, opting to be acquired by Xinhua Media and injected into the capital market.
What Should Ordinary Investors Do?
The prudent approach is to wait for the formal restructuring report to review the valuation, and to monitor whether the deal passes shareholder meetings and regulatory approvals.
(By Du Hai, Economic Herald Reporter,大众新闻)
Source
同花顺财经Eastern
Part of this Story
Xinhua Media shares surge on plan to acquire Interface Cailianshe in major restructuring