Changsha program producer listed on Shanghai exchange
Tvzone, a wholly-owned company of Changsha Broadcast and Television Group, struck the gong to announce it being listed on the Shanghai Stock Exchange, on Aug 11.
The first of its kind across the country, Tvzone, a state-controlled program producer, is also the seventh addition to the list based in Changsha, Hunan province capital, in 2017.
Tvzone, a program producer, strikes the gong to announce it being listed on the Shanghai Stock Exchange, on Aug 11. [Photo by Yueshan/news.changsha.cn]
Since its foundation in 2007, the company has grown to become an excellent content provider, whose primary businesses cover content production, distribution and marketing of TV, internet and mobile internet video programs, and copyright operations of TV plays.
Tvzone has experienced rapid growth in operation revenue over the past 10 years, registering annual increases of above 50 percent. Operating margins jumped a record 29.49 percent in 2015 and 30.57 percent in 2016.
Via its initial public offering (IPO), Tvzone will innovate and invest in more technologies, formats, and means of production utilizing social capital markets, as well as attract more talented and experienced personnel in new media, to create brand programs of extensive social influence.
In recent years, Changsha has been striving to support the development of its capital market by issuing various guidelines and policies, and streamlining IPO review procedures.
Changsha has been striving to support the development of its capital market, witnessing 61 companies listed so far. [Photo by Yu Ningshan/icswb.com]
Li Xiaobin, head of the Changsha office of financial services, said, "Changsha has paid high attention to promoting economic and finance based on a benign cycle and healthy pattern, and regarded it an important move to boost financial innovation and economic transformation and upgrading."
Currently, Changsha has 61 listed companies, 55 among them A-listed companies, topping other capital cities in Central China – Zhengzhou (Henan) and Wuhan (Hubei).
Changsha is becoming the most vigorous city in capital market financing among the three provinces, Changsha Evening News reported.
Source: Changsha Evening News & news.changsha.cn