Focus Media was founded in April 2004. It pioneered the concept of setting up flat screen screens to broadcast advertisements in offices and elevator lobbies of commercial buildings in high-end commercial areas, and established an extensive video promotion network to successfully bring 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 selected locations for flat screen displays in Hong Kong and Singapore. We became a Hong Kong listed company in July 2011. Currently, our flat screen screens are active in elevator lobbies of many large offices and commercial buildings in Hong Kong and Singapore. In a forced environment, we are exposed to a group of office people who are most eager to lock in but are also the hardest to reach; and in elevator lobbies in exclusive private residential areas in Hong Kong, we reach out to a group of wealthy consumers. In addition, we also have a large-scale in-store digital network that provides in-store sales advertising platforms for many leading retail chains in Hong Kong (Wanning Health and Beauty) and Singapore (Watson's Personal Care Stores). 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 and Youku Tudou Group Co., Ltd. (“YOKU”), the largest Internet TV company in China, became a digital media partner to produce micro-movies for our customers and broadcast them on the YOKU platform. In August 2015, the Group indirectly held 75% of Stan Lee Global Entertainment, LLC (“SLGE”) and expanded its film development and production business through the acquisition of an investment holding company. SLGE is engaged in the film development, production and distribution business, and currently holds more than 30 filmmaking intellectual property rights in the form of concepts, preliminary outlines, and/or film books. Of these, 3 films have already entered the development stage, with the goal of officially starting 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 associated persons! Owned by Entertainment, Inc. Mr. Stan Lee (“Stan”) is POW! Chairman and creative director of Entertainment, Inc. Stan is widely known for the many Marvel superheroes he has co-created, including Spider-Man (Spider-Man), The Incredible Hulk (Transformers), X-Men (Special Attack), The Fantastic Four (Fantastic Four), Iron Man (Iron Man), Avengers Huy* (Avengers), and many other heroes. 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 realistic fantasy and superhero entertainment content and promotions, and operates related product licensing services. POW! Entertainment, Inc. develops Stan's original projects for traditional entertainment media, including full-length 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, in connection with the securities brokerage business, we acquired Zhuo Lai Limited (“Zhuo Lai”) and its non-Quanqi subsidiary Cornerstone Securities Limited (“Cornerstone Securities”), a licensed corporation that can engage in type I regulatory activity (trading securities) under the Securities and Futures Regulations. Zuo Lai's main business is to provide securities brokerage services to its customers for the products offered by the Exchange. After the acquisition was completed on November 22, 2016, we began to enter the financial services industry. With the launch of the “Shanghai-Hong Kong Stock Connect” and the “Shenzhen-Hong Kong Stock Connect”, it is expected that the Hong Kong stock market will benefit from such interconnection 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 income. In March 2017, the Securities and Futures Commission (“SFC”) approved Cornerstone Securities to provide margin financing services. In line with recent business development and to bring out a new corporate image, as of 2017/12/18, the name of the listed company that the Group holds has been changed from “Focus Media Network Limited” to “Cornerstone Financial Holdings Limited”, and the stock code on the Stock Exchange is still “8112.”
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