CICC Assists Mango Excellent Media in Major Asset Restructuring and Strategic Investor Introduction

On May 30, 2019, Mango Excellent Media Co., Ltd. (“Mango Excellent Media”, the “Listed Company” or the “Company”, 300413.SZ, formerly known as Happigo Home Shopping Co., Ltd.) completed the supporting fundraising of RMB2.0 billion for major asset restructuring. Specifically, the Company issued, at RMB34.93/share, 45.81 million shares (RMB1.6 billion) to China Mobile Capital Holding Co., Ltd., a subsidiary of China Mobile Communications Group Co., Ltd., and 11.45 million shares (RMB400 million) to China Life Insurance Assets Management Co., Ltd. Prior to the issuance, in July 2018, the Company acquired 100% stakes in Hunantv.com, Mangofun, EE-Media, Mango Studios and Mango Entertainment at a total consideration of RMB11.55 billion via share offering, i.e. 589.02 million shares at RMB19.61/share. CICC acted as Independent Financial Advisor and Joint Lead Underwriter in the deal.

After the deal, Mango Excellent Media became the first-ever new media company to be listed on the A-share market through restructuring. This deal represents the largest major asset restructuring in an A-share media company in the latest 4 years by transaction size and a landmark in Hunan Broadcasting System's efforts to expand its presence throughout the industry chain. Up to date, the Company is a listed new media company that covers the entire industry chain of new media platform operation, production of new media interactive entertainment content and media retail. In 2018, the Company realized consolidated revenue of RMB9.66 billion and net profit attributable to shareholders of RMB866 million.

Having been providing investment banking services for Hunan Broadcasting System and the Company for many years, CICC has the honor to have fully participated in all the key capital operations of the Company from A-share listing to this deal. During the three years of execution, CICC cooperated with Hunan Broadcasting System and the Company to communicate with industry regulators and helped to solve a number of major issues. During the supporting fundraising, based on in-depth understanding of the industry and the Company, CICC assisted in identifying the Company’s competitive advantages and development strategies to create an investment story recognized by the market, which laid a solid foundation for the full success of the deal.

CICC is a people-oriented, leading investment bank with Chinese roots and international reach. Serving the nation with integrity, it is committed to providing quality value-added financial services for its clients. With extensive capital market experience and seamless domestic and overseas services, CICC will continue to provide first-class financial services to help its clients achieve their strategic goals.