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Focus Media

Chinese advertising company

Field	Value
name	Focus Media
type	Public
traded_as
foundation
location	Shanghai, China
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

Weiwei Kong (CFO)

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. 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.

In June 2015, Focus Media reached a $7.4 billion deal to list on the Shenzhen Stock Exchange via reverse merger. Its market value breaks through 100 billion yuan. In 2016, Focus Media was included in the Shanghai and Shenzhen 300 Index. In 2017, Focus was included in the MSCI China A-share Index, and in 2024, Focus was included in the CSI A50 Index.

References

Soham Chatterjee and Ryan Vlastelica. (21 November 2011). "Focus Media plunges after Muddy Waters charges". Reuters.
(2012-12-21). "Focus Media accepts US$3.7b buyout offer".
Gough, Neil. (2015-06-03). "Focus Media Reaches $7.4 Billion Deal to List in Shenzhen". The New York Times.
"The CSI 300 Index (000300)".
"The SSE 50 Index （930050）".

Info: Wikipedia Source

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