Advantage Partners makes second Chinese investment

HBMT is a division of Chinese appliance maker Hisense Group. Tokyo-headquartered Advantage made its acquisition through a private placement.

In July of last year, Advantage bought a 14% stake in Qin Jia Yuan Media Services (QJY), a Hong Kong-listed, Greater China media and advertising firm. At the time, Advantage said it had been in talks with QJY for almost two years, as the company was not looking at strategic investors. Emmett Thomas, partner at Advantage, told AVCJ that the firm has "been looking at numerous media companies in China for the past few years."

HBMT was launched in 2003 within the Hisense Electric Company (HEC), which produced flat panel television receivers. Its parent is a multibillion-dollar global conglomerate that owns two listed companies, HEC, which trades in Shanghai, and Hisense Kelon Electrical Holdings, which trades in Shenzhen and Hong Kong. It claimed 2010 sales revenue of $9.5 billion and overseas sales revenue of $1.4 billion, up 13.85% and 39% year-on-year.

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• Topics
• North Asia
• Greater China
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• Advantage Partners