Focus Media
{{Short description|Chinese advertising company}}
{{One source|date=May 2022}}
{{Infobox company
| name = Focus Media
| type = Public
| traded_as = {{ubl|{{SZSE|002027}}|{{NASDAQ was|FMCN}}|CSI A50}}
| foundation = {{Start date and age|2003}}
| key_people = Jason Jiang (chairman & CEO)
Weiwei Kong (CFO)
| industry = Advertising
| revenue = $0.9 billion USD (6.06 billion RMB) (2021)
| operating_income = $2.176 billion USD (14.84 billion RMB) (2021)
| net_income = $23.548 million USD (2005)
| num_employees = 5309
| homepage = {{URL|http://www.focusmedia.cn/en}}
}}
Focus Media Information Technology, formerly Focus Media Holding, is a Chinese company which operates out-of-home advertising in China which consist predominantly of digital signage screens and claims to own the country's largest Internet advertising agency.
Relisting
In November 2011, Muddy Waters Research reported massive fraud and corruption within the company.{{cite web |url=https://www.reuters.com/article/us-focusmedia-shares-idUSTRE7AK1ZR20111121 |title=Focus Media plunges after Muddy Waters charges|author=Soham Chatterjee and Ryan Vlastelica |date=21 November 2011 |publisher=Reuters |access-date=25 November 2011}} Focus denied the allegations. Until 2020, Muddy Waters had shorted 18 Chinese companies, including New Oriental(EDU), Anta Sports(02020.hk), Luckin Coffee(LK), and so on, most of which have been developing well. In May 2013, Focus Media was subsequently taken private and delisted from the Nasdaq by a private equity consortium that included FountainVest Partners, The Carlyle Group, China Everbright and CITIC Capital.{{Cite web |date=2012-12-21 |title=Focus Media accepts US$3.7b buyout offer |url=https://www.scmp.com/business/companies/article/1109404/focus-media-accepts-us37b-buyout-offer |access-date=2023-06-22 |website=South China Morning Post |language=en}}
In June 2015, Focus Media reached a $7.4 Billion deal to list on Shenzhen Stock Exchange via reverse merger.{{Cite news |last=Gough |first=Neil |date=2015-06-03 |title=Focus Media Reaches $7.4 Billion Deal to List in Shenzhen |language=en-US |work=The New York Times |url=https://www.nytimes.com/2015/06/04/business/dealbook/focus-media-in-shenzhen-listing-deal.html |access-date=2023-06-22 |issn=0362-4331}} Its market value breaks through 100 billion yuan. In 2016, Focus Media was included in the Shanghai and Shenzhen 300 Index.{{Cite web |title=The CSI 300 Index (000300) |url=https://www.csindex.com.cn/#/indices/family/detail?indexCode=000300 |access-date=2024-12-02 |website=www.csindex.com.cn}} In 2017, Focus was included in the MSCI China A-share Index, and in 2024, Focus was included in the CSI A50 Index.{{Cite web |title=The SSE 50 Index （930050） |url=https://www.csindex.com.cn/#/indices/family/detail?indexCode=930050 |access-date=2024-12-02 |website=www.csindex.com.cn}}
References
{{reflist|30em}}
External links
- {{official website|http://www.focusmedia.cn/en}}
{{SZSE 100 Index}}
{{Carlyle Group}}
{{Portal|Companies}}
Category:Companies in the CSI 100 Index
Category:Companies listed on the Shenzhen Stock Exchange
Category:Advertising agencies of China
Category:Companies based in Shanghai
Category:Marketing companies established in 2003
Category:Companies formerly listed on the Nasdaq