What’s new C Maoyan introduced investment from Wepiao.com and LinzhiLixin

Enlight Media has announced that its subsidiary Maoyan (one of China’s leadingonline ticketing platforms) introduced investment from Wepiao.com (one ofChina’s leading online ticketing platforms) and Linzhi Lixin.

Wepiao.com acquired 27.59% stake in Maoyan via 100% stake of Weying(Wepiao's wholly owned subsidiary) for consideration of RMB3.97bn; and

Linzhi Lixin acquired 6.56% stake in Maoyan via 100% stake of RuihaiFangyuan (Linzhi Lixin's wholly owned subsidiary) for consideration ofRMB0.2bn.

Currently, Enlight Media holds 19.83% stake in Maoyan from previous30.11%; and

Enlight Holdings holds 30.96% stake in Maoyan from previous 47.02%.

DB’s view C Downstream channel expansion continues

As per the company announcement, the current valuation of Maoyan is atRMB13.67n. Note that previous Valuation of Maoyan stood at RMB8.3bn.

As Enlight Media has strong presence in upstream movie production anddistribution; and Maoyan/Weying is the leading online ticketing platform.The investment in Maoyan offers Enlight Media direct channel access tomovie viewers.

In addition, Weying focuses not only movie ticketing platform, but alsoticketing business for show/exhibition/sports events. As of 2016, itsticketing business covered a total of over 2,000 theater/exhibition hall/stadium.

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