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Momo's parent company Zhiwen's equity exposure: Tang Yan holds 24% of the shares and has 74% of the voting rights

author:Thunder delivery
Momo's parent company Zhiwen's equity exposure: Tang Yan holds 24% of the shares and has 74% of the voting rights

Lei Jianping on May 4

Momo's parent company, Zhiwen Group (NASDAQ: MOMO), recently filed a Form 20-F filing, and its annual report shows that as of March 31, 2024, Zhiwen Group held a total of 370,162,906 shares, of which Momo's founder and Tang Yan held 24.3% of the shares and 74.3% of the voting rights.

Momo's parent company Zhiwen's equity exposure: Tang Yan holds 24% of the shares and has 74% of the voting rights

As of March 31, 2024, the shareholding structure of Zhiwen Group

截至2024年3月31日,J O Hambro Capital Management Limited持股为6.3%,有2.1%的投票权;Renaissance Technologies LLC、Invesco分别持股为5.1%,有1.7%的投票权。

In March 2024, the board of directors of Zhiwen Group, Momo's parent company, announced a special cash dividend of $0.54 per ADS, or $0.27 per common share. The total cash distribution was approximately $103 million, paid out of the company's surplus cash.

Based on this calculation, Tang Yan can receive a cash dividend of 25 million US dollars (about 181 million yuan).

截至2023年3月31日,唐岩持股22.9%,有73.2%投票权。 J O Hambro Capital Management Limited持股为6.2%,有2.1%的投票权。

Momo's parent company Zhiwen's equity exposure: Tang Yan holds 24% of the shares and has 74% of the voting rights

As of March 31, 2023, the shareholding structure of Zhiwen Group

Renaissance Technologies LLC持股为5.2%,有1.8%的投票权;Invesco持股为5%,有1.7%的投票权。

对比来看,过去一年,唐岩持股提升1.4个百分点,投票权增加1.1个百分点;J O Hambro Capital、Renaissance Technologies、Invesco持股保持了相对稳定。

At present, the chairman and CEO of Zhiwen Group is Tang Yan, the COO is Ms. Zhang Sichuan, and Tang Yan and Ms. Zhang Sichuan are husband and wife. Momo is a bit like a mom-and-pop shop now.

Momo's parent company Zhiwen's equity exposure: Tang Yan holds 24% of the shares and has 74% of the voting rights

Ms. Zhang first joined the company in July 2011 and was responsible for product design, marketing strategy and execution, and served as a director of the company from April 2012 to November 2017, before resigning to found PUPUPULA, a children's home furnishing brand, and served as CEO until 2022. In October 2022, Ms. Zhang Sichuan returned to the company and was in charge of personnel and operations.

According to the financial report, Zhiwen Group's revenue in 2019, 2020, 2021, 2022, and 2023 will be 17.015 billion yuan, 15.024 billion yuan, 14.576 billion yuan, 12.7 billion yuan, and 12 billion yuan (about 1.69 billion US dollars) respectively.

Momo's parent company Zhiwen's equity exposure: Tang Yan holds 24% of the shares and has 74% of the voting rights

In 2019, 2020, 2021, 2022 and 2023, the operating profit of Zhiwen Group was 3.555 billion yuan, 2.531 billion yuan, -2.39 billion yuan, 1.628 billion yuan and 2.305 billion yuan (about 324 million US dollars), and the net profit was 2.961 billion yuan, 2.1 billion yuan, -2.926 billion yuan, 1.48 billion yuan and 1.952 billion yuan (about 275 million US dollars), respectively.

As of December 31, 2023, Zhiwen Group held cash, cash equivalents, long-term investments, and short-term investments totaling 13.479 billion yuan (approximately 1.9 billion U.S. dollars), compared with 13.4 billion yuan in the same period last year.

As of now, Zhiwen Group's stock price is $6.19, with a market capitalization of $1.146 billion.

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