Weibo: Plan to acquire all equity of Sina headquarters building holders for 1.5 billion yuan

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Weibo intends to buy 100% of Sina Technology (China) Co., Ltd. for 1.5 billion yuan.
On the evening of December 23, Weibo Co., Ltd. (NASDAQ: WB, HKEX: 9898) announced that Weibo Hong Kong Limited, a wholly-owned subsidiary of the company, and Sina Hong Kong Co., Ltd., a wholly-owned subsidiary of Sina Corporation, had agreed to trade Sina.com. 100% equity interest in Technology (China) Co., Ltd. Entering into certain agreements whereby Weibo Hong Kong Limited agreed to purchase Sina Technology (China) Co., Ltd. (a wholly-owned subsidiary of Sina Hong Kong Co., Ltd. and the owner of the Sina Headquarters Building in Beijing, China) ), the total consideration is approximately RMB 1.5 billion.
According to public information, Sina Technology (China) Co., Ltd. was established in 2004 and is a wholly-owned subsidiary of Sina Hong Kong Co., Ltd., with Cao Guowei as its legal representative. The company owns the Sina Headquarters Building in Beijing, China, which is located in Phase II of Zhongguancun Software Park, Northeast Wangxi Road, Haidian District, Beijing, which is also the office building of Weibo.

Source: Tianyancha Equity Penetration Chart

On March 23, 2021, Sina Corporation, which has been established for 21 years, officially announced the completion of privatization and changed its name to “Sina Group Holdings Co., Ltd.” After delisting from Nasdaq, it became a private company jointly controlled by its chairman Cao Guowei and Sina management.
Prior to November, Weibo announced the third quarterly report for 2022. During the period, net revenue was US$453.6 million, a year-on-year decrease of 25%, and a year-on-year decrease of 20% based on constant exchange rates; non-GAAP operating profit was US$162.1 million, a year-on-year decrease of 34.8%, higher than Wall Street’s expectations of US$138 million; non-GAAP Net profit attributable to Weibo shareholders under accounting standards was US$119.0 million, or diluted net income of 50 cents per share, compared with US$209.6 million in the same period last year.
In terms of the number of active users, the number of monthly active users of Weibo in September 2022 is 584 million, a net increase of about 11 million users year-on-year. Mobile users account for 95% of the number of monthly active users. The average number of daily active users in September 2022 It was 253 million, a net increase of about 5 million users year-on-year. In the last quarter, Weibo had 582 million monthly active users and 252 million daily active users.
As of the close of U.S. stocks on December 22, Weibo (NASDAQ: WB, HKEX: 9898) rose 0.32% to close at $18.63, with a total market value of $4.56 billion; Hong Kong stocks, Weibo closed down 0.14% on the 23rd to HK$144.400, The total market value is 35.34 billion Hong Kong dollars.