The 21-day offer period passed in a flash, and Ruixiang accepted a total of 45.1% of the shares of independent shareholders.

In addition to the shares held by the Li Jiacheng family fund Retmond and Xie An and Zhou Yongming, a total of 7.72% of the shares held by retail investors were also accepted.

The total holdings reached 95.2%, and only 4.8% of the shares are still in the hands of some retail investors.

These retail investors did not want to accept the offer, mainly because the share price had risen above HK$0.3, more than double the offer price of HK$0.15.

Whenever there is a tender offer or privatization in the market, there are people who are not afraid of death.

They are betting that the privatization of Digital Domain will not succeed, or that Ruixiang, the majority shareholder, will deliberately not let the privatization succeed.

In their view, Ruixiang's behavior is to absorb as many retail shares as possible.

Then they may inject assets, and if Ruixiang injects $200 billion in assets, then they will make a lot of money.

So after the tender offer announcement, Digital Domain's share price went all the way up, and some people rushed in and bought shares at 0.3 and 0.4 Hong Kong dollars.

Now that Ruixiang's shareholding ratio exceeds 90%, a compulsory acquisition will be initiated, and the remaining shares of minority shareholders will be sold to Ruixiang at a price of 0.15 Hong Kong dollars until Ruixiang's shareholding ratio reaches 100% and the privatization and delisting procedures will be completed.

In the middle, it also went through two procedures: a court hearing and an extraordinary general meeting.

Fortunately, there are not many retail investors who have been imprisoned for buying shares at high prices, and the votes against them have not exceeded 10%.

It would be miserable if Digital Domain was not registered in Hong Kong, but in the Cayman Islands, which still has a procedure and counts heads.

A lot of privatizations have fallen at this step, and there are not many retail voters, but there are many people.

There are still some processes to go through for delisting, but it is basically a foregone conclusion.

At this time, some financial experts and stock recommendation experts were dragged out by retail investors and whipped their bodies, and they expressed their views as soon as Ruixiang issued the tender offer announcement.

Including the brain-opening point of "Ruixiang will be listed on the backdoor", they also put forward it.

Many people have been slapped in the face, and they all think that Ruixiang will not really be privatized and delisted.

After all, a Hong Kong stock shell has been speculated from one or two hundred million in the past few years to five or six billion now.

Although Zhang Yida is wealthy, he won't say a few small goals and don't want it.

There is also a basis to support this view, Zhang Yida does not have an A-share listed company, so it cannot be injected.

In recent years, the most popular thing in the market is to delist from Hong Kong stocks and go to A dividend.

Because Hong Kong stocks are more mature and have low valuations, big A shares are more crazy.

After 360 was delisted from the United States, the backdoor Jiangnan Jieyue doubled several times.

Digital Domain's plate is small, backdoor A-share listing is not cost-effective, and waiting in line for listing is too long.

It's not that Zhang Yida hasn't thought about injecting assets into Digital Domain, such as MCN companies that are difficult to go public.

But this shell is a little unclean, and the car owner was the son-in-law of a wealthy family back then, so he still had to avoid one or two.

No matter how Ruixiang wants to be listed on the Hong Kong stock market in the future, it still can't go too far.

On the side of the New York Stock Exchange and the NASDAQ, the three companies of the Yimin Department fell miserably, and there were class action lawsuits every three or five times.

didn't find any "financial fraud", otherwise his notoriety would have flown across the Pacific Ocean.

The delisting process is still going on, but the company's normal business has not stopped.

First of all, Lao Mouzi's crew "Lonely City White-haired Soldier" and Digital Domain have reached a cooperation, and the special effects production will be handed over to the latter.

Of the production cost of 100 million, 300 million will be spent on special effects, and 400 million will be spent on props and sets, and the starring salary will be less than 300 million.

The actor Fu Dalong, who was invited by the starring role, is the one who plays Emperor Yang of Sui, and this time he guarded the border for Li Tang.

The acting skills are online, and at the same time, they are also cheap, Zhang Yida feels that this kind of actor is worth pulling.

I heard that he was not good at socializing, resulting in no drama to film, and the actor was reduced to delivering takeaways.

Zhang Yida was curious, and asked Huang Xin if there was any of their 600,000 delivery riders named Fu Dalong.

Later, I learned that this was a rumor, although there are few dramas, but they usually teach students in the film and television academy.

In the crew, listening to Zhang Yimou's feedback, Fu Dalong is also very serious, learning from martial arts instructors, understanding the life of the characters, learning Tang Dynasty etiquette, and treating acting as a career.

In addition, Shake Vision and Kuaishou will introduce Digital Domain's 360-degree panoramic VR camera Zeus for small-scale live broadcast.

If the use effect is ideal, it will help to sell to major MCN organizations.

Bilibili, Himalaya, Daya Media and Digital Domain will also carry out a series of collaborations around virtual idols, trying to promote them in the form of animated short films and virtual singers.

The goal is to successfully create virtual idols such as Luo Tianyi and Hatsune Miku.

3Glasses, a VR headset hardware manufacturing company owned by Digital Domain, has added it to its 10 billion subsidy program in addition to using its short videos such as Shake and Kuaishou to help place ads.

Sprawly is a VR content creation tool platform that allows developers to develop VR games, VR animations, and VR movies with the help of the platform's tools.

Zhang's idea is to make it an app store, much like the relationship between Apple and APPStore.

However, in order to realize this idea, the sales of hardware headsets must be increased, and a large number of developers must be attracted to settle in, so that the VR app store has rich content, which requires the establishment of a large VR ecosystem.

Facebook spent $2 billion in '14 to acquire VR startup Oculus, which has reached the top few in the world in terms of sales and has its own VR app store with Facebook's help.

The apple tax is a good thing, and now everyone is taught to be smart by it.

Microsoft, Sony, Samsung, and HTC are all making VR hardware and building their own VR content distribution platforms.

Even Steam, a game publishing platform, has opened up a VR zone where you can download VR games.

As far as Zhang Yida knows, Facebook, HTC, and Steam are opening up VR stores with each other to make the VR cake bigger.

This is also the current status quo, the market is still too small and needs to be cultivated.

However, there is also a problem, that is, the content and the device are not compatible, and only two or three out of ten may be compatible.

It's like Apple and Android don't work together, it involves the underlying architecture and standards.

Digital Domain also has its own VR game team and has developed many games.

Zhang Yida poached some VR game-related talents from Silicon Valley, and planned to hand over the VR version of "PlayerUnknown's Battlegrounds" to them.

As a game with IP effect, the VR version of PUBG has not been launched for a long time, and some companies have rushed to launch the chicken VR game.

However, Zhang Yida was not in a hurry, and let the other party run for a while.

In the previous life, a short video that was very popular on Douyin, a girl paper wears VR glasses, and the player wields the lightsaber in his hand to slash the rhythm block according to the beat of the music, and dodges obstacles.

The game, called Rhythm Space, is a VR music game developed by BeatGames, a small studio in the Czech Republic, with only three people.

Ruixiang's strategic investment department has sent people to the Czech Republic to negotiate mergers and acquisitions, and the acquisition of VR content developers, especially small game studios, will become the norm in the future.

Ruixiang is also evaluating internally, and wants to explore: studio development - app store sales - short video, live broadcast display - e-commerce platform sales equipment - headset manufacturer manufacturing, such a commercial closed loop.

Digital Domain also has one last business segment, Digital Domain Space, also known as DD Space.

It has established an offline VR experience center with large-scale commercial complexes such as Wanda and Poly, and cooperated with Hengdian Cinema and Poly International Cinema to open VR theaters.

However, at present, the number is not large, and it is still in the early stage of business exploration, and has not yet formed a scale.

In addition, it also stood out from 14 companies and won the bid for the VR experience center of Beijing Daxing Airport.

Zhang Yida said in the work report that a number of digital entertainment experiences will be built in the future, including a fantasy theater, a fantasy space, a fantasy theater, a magical zoo, an end-of-world battlefield, and an X-cube.

It can be regarded as a cultural tourism project, with the aim of creating a characteristic digital park.

Zhang Yida didn't know if this business could make money, and Ruixiang had very little offline business and couldn't give much support.

However, the existence of this experience center can not only promote the brand and sell VR equipment, but also build the so-called "oasis" project.

Digital Domain is the special effects creator of Ready Player One, and the virtual world inside is called Oasis.

Zhang Yida decided to wait and see, not to rush to make additional investment, and to see the consumer acceptance in first-tier cities.

Digital Domain spent a total of HK$3.9 billion on the acquisition, which is a small target saving over the projected figures.

The business seems to be comprehensive, but Zhang Yida knows that it is a bit broad but not sophisticated.

In the past two years, I have been busy fighting in several fields of finance and e-commerce, thus ignoring this market.

At present, Qiyi, pig factory, penguin and other companies are crowding into this track, and those engaged in film and television, games and other content industries are afraid of missing the outlet.

Especially after the issuance of 5G licenses next year, network bandwidth, network balance, and data latency will bring greater improvements.

They are looking forward to what kind of energy technological innovation such as 5G + VR and 5G + cloud gaming will inject into the industry.

Because VR and cloud gaming are recognized as the two areas that benefited from the early implementation of 5G.

The development of the two also complements each other, and the introduction of VR/AR devices in cloud gaming will bring more innovative gameplay and new gaming experiences.

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