HONG KONG, April 23, 2011 /PRNewswire-Asia/ -- CCB International (Holdings) Limited ("CCBI"), an investment banking flagship wholly owned by China Construction Bank Corporation ("CCB"), announced today the official launching of "CCB International Cultural Industry PE Fund" ("the Fund") in Beijing. With a size of RMB2 billion, this is the first cultural sector investment fund in the Mainland China with its investment focus directed towards the broadcasting, film/TV production and publishing industries.
During the launching ceremony, CCB International Cultural Industry PE Fund revealed that Beijing Galloping Horse Film & TV Production Co., Ltd will be the first cultural company on the receiving end of its investment.
Dr. Hu Zhanghong, CEO of CCBI, said, "The fund will take the State's Cultural Industries Promotion Plan as a guidance and is committed to facilitate innovation and development in China's cultural industries. On the strength of its solid financial background, its professional investment management team and its authoritative specialist consultants, CCBI aims to make use of this innovative coupling of finance and sector to foster the healthy development of related industries while striving to realise the best return for the investors of the fund."
The fund, under management by Qianxin Culture Investment Management Company Limited, another CCBI subsidiary, is a congregation of China's current leading players in the financial and cultural sectors. In addition to CCBI, its investors include such industrial leaders as China Publishing Group Corporation (a national level publisher) and China Film Group Corporation (a major first-rate film producer in China). Listed as investors are also elite Chinese companies such as the Jiangsu Yurun Group and Qixian Investment.
As CCB's wholly owned investment banking flagship, CCBI has in recent years taken root in Hong Kong, focused its business in the mainland and started venturing overseas. By levering CCB's advantages and all-encompassing industrial chain in investment banking, it has set up a comprehensive investment banking service platform and achieved excellent business results. In particular, it has succeeded in setting up a Renminbi sector fund platform in the mainland. It ranks first among banking funds in terms of the number and sizes of the Renminbi investment funds it has established, which include, among others, CCBI Healthcare Fund, Aviation Sector Fund, Environmental Fund and Wanjiang Fund.
CCBI has in successive years been acclaimed the "Best Private Equity Investment Institution in China". In Zero2IPO Group's ranking of China venture investments and private equity investments in 2010, it was ranked first among "China's Top 30 Private Equity Investment Institutions 2010" on the bases of important indexes including "the size of capital under its management, the number of newly raised funds and the capital volume involved, the number of investment cases and the capital volume involved, the number of fund withdrawal cases and the withdrawal amount and levels of return". The fact that it is recognised "Best Domestic Investment Bank in Hong Kong" in The Asset's Triple A country award programme fully signifies CCBI's global stature in the private equity investment field. As well, it reflects well on the professionalism and brand name advantage of CCBI's investment business.
Profiles of selected shareholders of the CCB International Cultural Industry PE Fund
CCB International: It is a wholly owned investment banking flagship of China Construction Banking Corporation. Its business represents a full complement of investment banking activities covering numerous products and services revolving around the three major stages of pre-IPO, IPO and post-IPO. It strives its best in providing eminent global enterprises with comprehensive services in sponsorship; underwriting; financial consultancy; mergers, acquisitions and restructuring of enterprises; issuing and placement of additional rights and refinancing of listed companies; direct investments; asset management; securities brokerage; market research and investment consultancy.
China Publishing Group Corporation: As the leading as well as the most influential publishing enterprise in China, the Group boasts such time-honoured publishing houses as People's Literature Publishing House, Joint Publishing Company Ltd, Xinhua Bookstore Head Office and China Book Import & Export Corporation. Serving as a pilot institution in China's cultural system reform and state-owned asset management system reform, the Group is under the direct leadership of the Publicity Department of the CPC Central Committee, while the management of its operations is covered by the General Administration of Press and Publication and the supervision and management of its state-owned assets are the responsibility of the Ministry of Finance.
China Film Group Corporation: It is currently a state-owned film and TV producing group with the largest asset size, the highest professionalism and the most comprehensive industrial chain. It has untold influencing and guiding force in China's movie industry because it has signed up more than 400 cinema to join one of its seven cinema chains and it accounts for more than half of China's total box office sales. In addition, it is one of the only two companies in China vested with the right to import and export films. In recent years, the Group has been pressing ahead with its shareholding reform. In doing so, it has realised a diversification of its investments and a sustained enhancement of its production scale, operation capability and financing capability. It has also succeeded in drawing domestic and overseas capitals by dint of its enormous tangible and intangible assets and has forged corporation ties with numerous domestic and foreign companies successively.
