TVB Shareholder Chen Huiren: Supporting Losing Money

Chen Huiren, founder and investment director of Taizheng Capital, who holds about 5% of the shares, said in an interview with local media that the loss of television broadcasts in the past two years is theoretically a bad thing, but in reality it is something that is bound to happen.

He said that if there were no losses, it would be impossible to make creative and high-quality programs again (such as “The Legend of Dreams” and “The Voice of Middle Age”).

At the same time, he also hopes that TV broadcasts will “gradually make more talking points (selling points) and further improve the program.”

Chan Wai-yan stressed, “If you want to do a good program, you first need to spend money, make a good restaurant, have beautiful ingredients, have a good facade, lose money but have a good reputation before the guests come back, so losing money is a necessary stage. It is a necessary stage for TVB to lose money.”

Chan Wai-yan also said that even if he supports TVB's loss of money, he must “watch his wallet do things, not mess around and become a big flower,” and use the funds according to specific circumstances.

Referring to Wu Jiwei, the co-founder of Jihui Capital, who subscribed to TVB convertible bonds earlier, Chen Huiren said that Wu Jiwei is his ally, has more experience than him, and has a higher seniority than him. He is honored that Wu Jiwei shares his views on the investment value of TVB.

“He first observed the situation before entering, so he was smarter than me, and now he is here to save me.”

Wu Jiwei's subscription for TV and radio convertible bonds involved HK$156 million (about RM91.76 million). If all were exercised, TV and radio would issue 3.556 million new shares to Wu Jiwei. The issued new shares accounted for 7.41% of the expanded issued share capital.