China's publishing industry cross-regional mergers and acquisitions gradually become a trend
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Breaking the geographical and departmental restrictions, breaking the fragmentation, and cultivating large-scale publishing media groups with high concentration of assets and resources, becoming backbone enterprises and strategic investors, is an inevitable trend of deepening reform. Under the vigorous promotion of the competent authorities of the industry, in recent years, China's publishing companies have taken a new step in mergers and acquisitions, showing a gratifying momentum.
Su Qiong marriage, peaceful take-off, Jilin Union manual trade association - new cases of cross-regional cooperation and reorganization
In March 2008, China Peace Publishing House became the first central-level publishing unit in China to implement the shareholding system transformation. It is the cooperation and reorganization of Jiangxi Publishing Group and China Peace Publishing House, which greatly promoted the restructuring of China Peace Publishing House. In the same year, China Peace Publishing Co., Ltd. achieved a sales income of 60 million yuan, a year-on-year increase of 70%. The first attempt of cross-regional restructuring of the publishing industry was also called the icebreaking move that the industry called the activation of central-level publishing units.
In May 2008, Hainan Phoenix Xinhua Distribution Co., Ltd., jointly established by Jiangsu Xinhua Distribution Group and Hainan Xinhua Distribution Group, was established in Haikou, creating a precedent for cross-provincial restructuring of China's hair industry.
This year, such examples have emerged throughout the country -
In April, the China Federation of Industry and Commerce Publishing House Co., Ltd., which was restructured and reorganized by Jilin Publishing Group and the China Federation of Industry and Commerce, was established in Beijing and became the first regional and inter-departmental strategic reorganization of the local publishing group and the publishing houses of the central and state organs. Home publishing unit. In April, Beijing Gonghe Linkage Book Company, which is well-known for selling best-selling books such as "China can say no", "Seeking medical treatment is not as good as seeking for self", "China is not happy", and Jiangsu People's Publishing House, a subsidiary of Phoenix Publishing and Media Group, formed Beijing Phoenix. Linked cultural media companies have provided fresh living cases for cross-regional restructuring of the publishing industry.
On June 26, Tianjin Publishing House, Inner Mongolia Xinhua Distribution Group Co., Ltd. and Northern United Publishing Media Co., Ltd. signed the "Strategic Cooperation Framework Agreement" in Beijing, declaring that China's publishing industry will integrate resources by capital operation and form a large-scale regional The exploration of the "aircraft carrier" in the publishing industry has taken substantial steps.
"The tangible hand" helps the launch of the publishing company across regions
Cross-regional mergers and acquisitions are not only the result of the company's adherence to the laws of the market, but also the role of the “invisible hand” of the market. It is also the product of the “tangible hand” from the central to local governments.
As early as 2002, the General Administration of Press and Publication issued a document requiring the press and publication management department to provide good services to cross-regional operations. In 2006, the General Administration of Press and Publication issued a work plan for deepening the reform of the publishing system, encouraging the publishing group and the issuing group to hold each other's shares and carry out cross-regional, cross-sectoral and cross-industry cooperation and restructuring. In April this year, with the introduction of the “New Deal” of the General Administration of Press and Publication, the “Guiding Opinions on Further Promoting the Reform of the Press and Publication System” clearly pointed out that one of the important tasks of the reform of the publishing system is to encourage and support publishing units with similar businesses and resources. Cross-regional and inter-departmental establishment of publishing media group companies, through the promotion of joint restructuring, accelerate the cultivation of backbone enterprises and strategic investors in publishing media.
"Inter-regional cooperation has broken the market structure of the original block division and regional blockade, and promoted cross-regional and cross-industry alliances. It is a substantial exploration of the deepening reform of China's publishing and publishing enterprises, and has exemplary significance." Director of the General Administration of Press and Publication Liu Binjie said.
At the symposium of the National Press and Publications Bureau held recently, Liu Binjie said that the reform of the publishing system has entered the stage of cultivating market players and strategic investors. To achieve sound and rapid development, it is necessary to change the original layout and improve industry and capital concentration. With the platform of superior enterprises, integrating resources, adjusting structure, and strengthening the main business, in three to five years, we have cultivated six-to-seven-large-scale domestic and internationally renowned large-scale publishing media with over 10 billion assets and over 10 billion sales. enterprise.
Taking advantage of the new system, creating a new restructuring model with capital as a link
The new system has given birth to new advantages. Jiangsu Xinhua Distribution Group, a subsidiary of Phoenix Publishing and Media Group, is a pilot unit of the national cultural system reform. As a local publishing and distribution group, it has taken the lead in completing the system reform and becoming the mainstay of the market. The main economic indicators have maintained a national leading position for 16 consecutive years and have a strong book distribution network. After signing a strategic cooperation agreement with Hainan Xinhua Bookstore, Jiangsu Xinhua Distribution Group entered the reform experience into Hainan, and completed the three tasks of forming a group, transforming the enterprise and restructuring the joint-stock system within two years.
The “Phoenix Experience” successfully transplanted Hainan, bringing vitality to the island’s book distribution companies.
Last year, the net profit of Hainan Phoenix Xinhua's 18 subsidiaries increased by 136% year-on-year, and the sales code increased by more than 10% year-on-year. This year, Hainan Phoenix Xinhua's sales from January to June increased by 36% year-on-year.
Similarly, the local publishing group led the restructuring case. Jiangxi Publishing Group participated in the whole process of restructuring China Peace Publishing House, and achieved control with 80% equity, realizing the “step-by-step” of mergers and acquisitions. Zhong Jianhua, chairman of Jiangxi Publishing Group, told reporters that since the listing of China Peace Publishing Co., Ltd. last year, the sales revenue has reached 60 million yuan, which has turned losses into profits. At the same time, Jiangxi Publishing Group has a large share of the national book retail market. It reached 1.41% this year and entered the top ten in the country for the first time.
"The biggest gain of reorganization is that it is beneficial to the adjustment of product structure of both parties, which is conducive to the synergy of complementarity and synergy. The effect is far more than re-creating a publishing unit." Zhou Dianfu, chairman and general manager of Jilin Publishing Group Co., Ltd., talked about the association with industry and commerce. When the publisher reorganized, said. Liu Congxing, general manager of China Industrial and Commercial Union Publishing Co., Ltd. also believes that the reorganization has won more resources and funds for the publishing house and won more market opportunities. At present, the new company has cooperated with a number of well-known publishing groups and copyright agencies in the United States to introduce a series of management and inspirational training books. The best-selling books in the second half of the year include "Currency War 2", "China Megatrend" and "Big Crash".
Breaking the regional monopoly of ice--the new pattern of competition in the publishing industry has gradually formed
Emancipating the mind, innovating the system, exploring boldly, and seizing the opportunity are the guarantees for rapid development.
How to abandon the concept of "small wealth and security", break the long-standing fragmentation and geographical restrictions, and strive to explore the road of reorganization and cooperation? The cross-regional management of publishing and publishing enterprises has gathered innovative ideas and has gone through an unprecedented The road of using capital as a link and the reform of the property rights system as a breakthrough, fully integrating the assets, business, personnel and other resources of both sides, and creating a new mode of cooperation.
In the marriage of Su Qiong, Hainan Xinhua Distribution Group was transformed into a total net assets, accounting for 49% of the shares. Jiangsu Xinhua Distribution Group invested in cash, accounting for 51% of the shares. The joint venture formed Hainan Phoenix Xinhua Co., Ltd. and established a perfect Corporate governance structure.
The restructuring brought about breakthroughs in five aspects: system, transformation, mechanism, market and growth. Tan Yue, chairman of Phoenix Publishing Media Group, pointed out that the first is that Hainan Xinhua Bookstore has accelerated the pace of grouping and share reform, and improved the corporate governance structure. Second, it promoted the transformation of Jiangsu Xinhua Publishing Group from book dealers to strategic investors. The distribution group has transformed into a national distribution group; the third is that Hainan Xinhua Bookstore not only introduces capital, but also introduces management and technology to promote the transformation of internal management mechanism; fourth, the market and resource advantages of Jiangsu and Hainan complement each other; The advantage is that the "economic cakes" of the two provinces will become bigger and bigger.