A Study On The Post-IPO Performance Of Chinese Media Companies

This thesis provides a comprehensive and systematic analysis on the post-IPO performance of three Chinese media companies-China South Publishing&Media Group, Huayi Bros.Media Group and BlueFocus; the analysis is mainly based on the comparisons among the motivations of public listing, uses of funds, financial situation, business operation model, ownership structure and dividend policy. At the same time, this paper attempts to provide valuable insights for investors who are interested in the potential investment value of those listed media companies in China, in particular in the context of the transformation of old media technology and of the IPO waves of Chinese media companies.This present thesis is organized as follows:The first chapter introduces the current situation of the media industry and the major listed media companies in China. It indicates the necessity of IPOs for the Chinese media companies.The second chapter describes the sample selection-China South Publishing&Media Group, Huayi Bros. Media Group and BlueFocus; and briefly investigates the stock returns, risks and volatilities of the three sample firms since IPOThe third chapter analyzes the three sample firms on their different motivations for public listings, uses of funds, operating performances, business operation model, ownership structure, dividend policy and other aspects.Finally, the fourth chapter concludes the investment proposals through the three sample companies which are respectively the representative of traditional publishing enterprises, of new media companies and of advertising and public relations business.