On August 8,2017,the NEEQ-listed company-New Studios Media Group Co. Ltd. (hereinafter referred to as “New Studios”) announced that it closed its private placement of 147 million yuan. This round of financing was led by the fund under the public company Perfect World. Other newly introduced investors include Fuhui Capital and Yongtong Capital,with China Taihecap as the exclusive financial advisor.

New Studios was founded in 2012. Starting from three major business segments: the creator community, the new studios filmmaking, and the magic short videos, the company has gradually grown into a leading new media company in China for film and video content production and distribution.