Focus Media was founded in April 2004. It pioneered the concept of setting up flat screen screens to display advertisements in offices and elevator lobbies of commercial buildings in high-class commercial districts, and established a wide-ranging video promotion network, successfully bringing advertisers' information to core audiences such as white-collar workers/management professionals and businessmen. Over the past decade, we have grown into a digital outdoor media company with the largest number of flat screen installations in selected locations in Hong Kong and Singapore. We became a Hong Kong listed company in July 2011. Currently, our flat screen displays are active in the elevator lobbies of many large offices and commercial buildings in Hong Kong and Singapore. In an obsessive environment, we are exposed to a group of office workers who want to be locked down the most but also the hardest to reach; and in elevator lobbies in exclusive private residential areas in Hong Kong, we meet a group of wealthy consumers. In addition, we also have an extensive in-store digital network to provide in-store sales advertising platforms for many leading retail chains in Hong Kong (Wanning Health & Beauty Store) and Singapore (Watsons Personal Care Store). In addition, we also have exclusive agency rights for a number of large-scale outdoor digital and static billboards in major tourist and commercial areas in Hong Kong and Singapore. In February 2012, the Group became a digital media partner with Youku Tudou Group Co., Ltd. (“YOKU”), the largest online TV company in China, to produce micro-movies for our customers and broadcast them on the YOKU platform. In August 2015, through the acquisition of an investment holding company, the Group indirectly held 75% of the shares in Stan Lee Global Entertainment, LLC (“SLGE”) and expanded its film development and production business. SLGE is engaged in film development, production and distribution business, and currently has more than 30 film production intellectual property rights in the form of concepts, preliminary outlines and/or film books. Of these, 3 films have already entered the development stage, and the goal is to begin official filming in the next 2 years. The remaining 25% of Stan Lee Global Entertainment, LLC's shares are owned by a third party POW independent of the Company and its related parties! Owned by Entertainment, Inc. Mr. Stan Lee (“Stan”) for POW! Chairman and creative director of Entertainment, Inc. Stan is widely known for the many Marvel superheroes he co-created, including Spider-Man (Spider-Man), The Incredible Hulk (Transformers Doctor), X-Men (Mutant Attack), The Fantastic Four (Fantastic Four), Iron Man (Iron Armor), Avengers Foundation* (The Avengers), and many other heroic characters. Stan has created many new characters and stories in various fields, including publications, movies, reality TV series, stage, documentaries, and multimedia. POW! Entertainment, Inc. is a multimedia production and licensing company that uses Stan's creative ideas and brand image to produce animated and live fantasy and superhero entertainment content and promotions, and operate related product licensing services. POW! Entertainment, Inc. develops Stan's original projects for traditional entertainment media, including live and animated feature films, DVDs, live entertainment, TV series, promotions, and new media such as online electronic programming and video games. On August 8, 2016, we were involved in the securities brokerage business and acquired Zhuolai Limited (“Zhuolai”) and its non-subsidiary Cornerstone Securities Limited (“Cornerstone Securities”), a licensed corporation that can engage in Class I regulatory activities (trading securities) in accordance with the Securities and Futures Regulations. Zhuolai's main business is to provide securities brokerage services to its customers in connection with the Stock Exchange's remittance transfer products. Following the completion of the acquisition on November 22, 2016, we began our involvement in the financial services industry. With the launch of the “Shanghai-Hong Kong Stock Connect” and “Shenzhen-Hong Kong Stock Connect”, it is expected that the Hong Kong stock market will benefit from such connectivity schemes, while more capital will flow into the Hong Kong stock market, and market turnover will increase dramatically. Following our success in 2016, the securities trading business continued to grow strongly in 2017. In particular, the number of securities trading accounts, the volume of securities trading transactions recorded significant growth, and growth in brokerage earnings and other revenue. In March 2017, the Securities and Futures Commission (“SFC”) approved Cornerstone Securities to provide margin financing services. In line with recent business developments and to bring out a new corporate image, the name of the listed company controlled by the Group has been changed from “Focus Media Network Limited” to “Cornerstone Financial Holdings Limited” as of December 18, 2017, and the stock code on the Stock Exchange remains “8112”.
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