Hunan Tv & Broadcast Intermediary

What Hunan Tv & Broadcast Intermediary does

Hunan Tv & Broadcast Intermediary (湖南电广传媒股份有限公司), branded as Dianguang Media (电广传媒), is a state-controlled media and entertainment conglomerate headquartered in Changsha, Hunan Province, China (SZSE:000917). Founded in 1998 and listed on the Shenzhen Stock Exchange on March 25, 2000 as China's first media-sector A-share, the company is ultimately controlled by the Hunan Provincial State-owned Cultural Assets Supervision and Administration Commission via Hunan Broadcasting & TV Group. It operates approximately 10,000 employees across five business pillars: cultural tourism, venture capital investment, advertising, gaming, and (historically) cable network services.

The company executes a dual strategy of 'New Cultural Tourism + Grand Asset Management' (新文旅+大资管). Core cultural tourism assets include Changsha World Window (长沙世界之窗, Central China's first-generation theme park operational since 1997), the Saint Tropez five-star hotel (圣爵菲斯大酒店), and a portfolio of 10 destinations across Hunan Province developed under the 'Three Xiang Starlight Action' (三湘星光行动) — including Mango City, Mango Future Art Center (with AI/AR/VR immersive digital art), the Digital Chuanshan Academy on Hengyang Dongzhou Island, Yunshan National Forest Park, Qu Yuan Cultural Park, and Anhua Tea Horse Road. The venture capital arm DaChen VC (达晨财智) manages approximately 500 billion yuan in fund assets across 750+ investments with 142 IPO exits, including exposure to Tesla, Xiaomi Auto, Seres, Xpeng, and NIO via portfolio company Yousheng Aluminum. Other units include Yunhong Communication (韵洪传播, advertising distribution across 200+ TV stations and 100+ high-speed rail stations), Shanghai Jiuzhirun (上海久之润, IP game operations including the iconic 'Audition' franchise with 600 million registered users), and a residual interest in China Broadcasting Network Hunan (cable assets contributed to the national China Broadcasting Network in November 2020).

Revenue is generated through diversified streams: cultural tourism ticket/admission sales (411 million yuan in 2024, up 10.52%), venture capital management fees and investment returns (505 million yuan in 2024, 12.94% of total), advertising commissions (Yunhong Communication exceeds 3 billion yuan annually), gaming in-game purchases, and historically cable subscription revenue. Customer segments span leisure tourists and families (primary D2C segment), corporate clients (B2B MICE events and banquets), educational groups (study tours at Mango City), and venture-backed growth companies. Distribution leverages Hunan TV/Mango TV cross-promotion, Douyin/WeChat social media, Yunhong's media network, and travel agency partnerships across Hunan.

Name

Hunan Tv & Broadcast Intermediary

Legal name

湖南电广传媒股份有限公司

Website

https://tik.com.cn

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Hunan Tv & Broadcast Intermediary (Dianguang Media, SZSE:000917) is a state-controlled Chinese media conglomerate operating cultural tourism venues (Changsha World Window, 10 Hunan destinations), venture capital (DaChen, ~500B yuan AUM), advertising (Yunhong), and IP gaming (Audition), serving leisure tourists, enterprises, and growth-stage companies.

Ownership category

akta.pro rank

Product category

Cultural Tourism & Media Services

NAICS

Amusement and Theme Parks (71311), Amusement Parks and Arcades (7131)

SIC

Services-Amusement & Recreation Services (7900)

akta.pro primary industry

Specialty & Entertainment Venue Property Management (BPAJAGAO)

akta.pro secondary industries

International Thematic/Genre Broadcasters (Entertainment/Lifestyle/Documentary/Music) (MPABAEAL), Cinema Media Planning & Buying (MPAAABAJ)

Keywords

• Cultural tourism operations
• Venture capital investment
• Theme park management
• Media advertising services
• IP game operations

Headquarters

HQ city

Liuyang

HQ country

China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure, Supply Chain

Revenue model

1. Cultural Tourism Operations: Revenue from theme parks (Changsha World Window), hotels (Saint爵菲斯大酒店), cultural tourism venues, and tourism management services. Major attractions include 芒果未来艺术中心, 万楼·芒果青年码头, and various cultural tourism projects under the 'Three Xiang Starlight Action' initiative. Revenue grew 10.52% in 2024 to 411 million yuan.
2. Investment Management (DaChen VC): Venture capital and private equity investment returns, management fees, and carried interest from DaChen Capital (达晨财智) and DaChen Venture Capital (达晨创投). Revenue 505 million yuan in 2024 (12.94% of total revenue). Manages approximately 500 billion yuan in fund assets.
3. Advertising Services (Yunhong Communication): Television and new media advertising agency services, high-speed rail self-media, drone aerial advertising media, content creation, integrated marketing, creative R&D, and information flow delivery through Yunhong Communication (韵洪传播). Annual revenue exceeds 3 billion yuan.
4. Gaming Operations (Shanghai Jiuzhirun): IP game operations including '劲舞团' (Audition), '机动战士敢达在线', '劲舞团手游版', and other mobile games. Revenue primarily from in-game purchases and virtual goods sales.
5. Cable Network Services (China Broadcasting Network Hunan): Cable television network investment and management, though this segment was largely transferred to China Broadcasting Network Corporation in 2020 and is no longer consolidated in financial statements.

Pricing tiers

Go-to-market motion4 records

Distribution channels5 records

Marketing channels6 records

Core offering

Hunan Tv & Broadcast Intermediary (Dianguang Media) operates a diversified portfolio built around a "New Cultural Tourism + Grand Asset Management" strategy. Its core operations include cultural tourism attractions and venues (theme parks such as Changsha World Window, hotels like Saint Tropez, immersive digital art centers such as Mango Future Art Center, and themed cultural projects under the "Three Xiang Starlight Action" across Hunan Province), venture capital and private equity investment management (DaChen Capital managing ~500 billion yuan in funds), advertising and media services (Yunhong Communication), IP-based game operations (Shanghai Jiuzhirun's Audition), and cable network operations (China Broadcasting Network Hunan).

Product overview

Hunan Tv & Broadcast Intermediary (电广传媒) operates a diversified portfolio under its 'New Cultural Tourism + Grand Asset Management' strategy. The company operates Cultural Tourism (芒果城, 芒果未来艺术中心, 千里江山奇幻游, 长沙世界之窗, 圣爵菲斯大酒店, 湘潭万楼·芒果青年码头, 郴州711时光小镇, 汨罗屈子文化园, 安化茶马古道, 云山国家森林公园), Investment (达晨财智), Advertising (韵洪传播), Gaming (上海久之润), and Network (中国广电湖南网络) businesses. The core platform integrates media IP resources with physical tourism destinations, featuring digital technology products like 数字船山书院 and AI-powered experiences at 芒果未来艺术中心.

Differentiator

Problem solved

Functional benefit

Brands

• 芒果文旅: Cultural tourism brand under Dianguang Media, responsible for new cultural tourism project development and operations across Hunan Province.
• 达晨财智
• 长沙世界之窗
• 圣爵菲斯大酒店
• 芒果未来艺术中心
• 711时光小镇

Products and services

• Mango City (芒果城) Comprehensive cultural tourism destination integrating Changsha World Window, Changsha Underwater World, and Seven-Color Box project; positioned as a national 5A scenic area and the flagship of the company's new cultural tourism strategy.
• Changsha World Window (长沙世界之窗)

Quantifiable outcome

• Over 128 million visitors during single National Day holiday period (2024)
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability7 records

Feature4 records

Partnerships

Eight partnerships are on record, tiered core, flagship and strategic.

• Hunan China Youth International Travel (湖南省中青国旅)coreChannel Partner/ Reseller/ Distributor · 29 September 2025Strategic cooperation agreement signed for tourism distribution partnership. Hunan China Youth Travel, one of the province's major travel agencies, will provide tourist group bookings and marketing support for cloud Mountain National Forest Park and other芒果文旅 projects.
• Shaoyang China Youth Travel (邵阳中旅)coreChannel Partner/ Reseller/ Distributor · 29 September 2025Partnership with Shaoyang China Youth Travel to distribute tourism products for cloud Mountain National Forest Park and regional cultural tourism circuit.
• Shaoyang Travel Agency Association (邵阳市旅行社分会)coreChannel Partner/ Reseller/ Distributor · 29 September 2025Strategic alliance with Shaoyang Travel Agency Association to coordinate distribution efforts across multiple travel agencies in the region.
• Hunan Zhongtie Construction (湖南中铁)coreChannel Partner/ Reseller/ Distributor · 29 September 2025Partnership with Hunan China Railway for infrastructure and tourism project development support, including potential transportation links and project logistics for cloud Mountain tourism destination.
• Hengyang Municipal Government (衡阳市人民政府)flagshipStrategic or Co-development Partner · 9 May 2024Strategic partnership to jointly develop Dongzhou Island cultural tourism project. 电广传媒 invested 120 million yuan while the local government contributed over 1 billion yuan in infrastructure. Project focuses on 'culture + technology + tourism' integration.
• Chenzhou Suxian District Government (郴州苏仙区政府)coreStrategic or Co-development Partner · 1 April 2024Partnership to transform former 711 uranium mine into 711 Time Town cultural tourism destination. Investment of 30 million yuan, targeting 1.5 million annual visitors. Revitalized abandoned industrial site into cultural tourism hotspot.
• Xiangtan Municipal Government (湘潭市委市政府)flagshipStrategic or Co-development Partner · 3 May 2023Joint development of Wan Lou Youth Terminal project, revitalizing idle assets worth over 1 billion yuan. Government provided land and existing structures while电广传媒 contributed operational expertise and芒果 IP resources. Project created 2,000+ jobs.
• Luo Zhongli Scholarship (罗中立奖学金)strategicStrategic or Co-development Partner · 4 December 2021Long-term strategic partnership between电广传媒 and the Luo Zhongli Scholarship for youth art development. 电广传媒 will leverage its media resources to promote young artists, while providing investment opportunities through its subsidiary Zhongyi Dacai for art collection and artist support.

Scale indicators7 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• OCT Group (华侨城集团): China's largest state-controlled cultural tourism conglomerate; operates Window of the World, Happy Valley, and Splendid China theme parks plus OCT Harbour and other entertainment complexes. Highly comparable: state-controlled, theme-park-heavy, integrated real estate + tourism + cultural IP model with national footprint versus Dianguang's Hunan-centric footprint.
• Mango Excellent Media (芒果超媒, 300413.SZ): Sister listed company under the same parent, Hunan Broadcasting & TV Group; operates the Mango TV streaming platform and content production. Most directly comparable state-media peer sharing the Mango brand, IP library, and Mango TV/Mango Future integration, but focused on online content/IP monetization rather than physical tourism venues.
• Songcheng Performance (宋城演艺, 300144.SZ): A leading Chinese performing-arts + theme-park group operating live-show parks (千古情 series) across major Chinese cities. Directly comparable on the tourism + live entertainment integration theme, though focused on theatrical productions rather than media-IP-driven attractions.
• BlueFocus Communication Group (蓝色光标, 300058.SZ): China's largest marketing/advertising services group; comparable to Yunhong Communication (Dianguang's advertising arm) in offering integrated advertising, digital media planning, and content marketing. Both serve brand advertisers across television, digital, and out-of-home media.
• Focus Media (分众传媒, 002027.SZ): China's dominant out-of-home and elevator-screen advertising company; comparable in media/advertising scale, with Yunhong covering TV + high-speed rail station media and Focus Media covering office/residential elevator media. Both target brand advertisers at scale via proprietary media networks.
• HongShan Capital (红杉中国 / Sequoia China): One of China's largest venture capital and growth equity firms; directly comparable to DaChen VC (Dianguang's wholly-owned investment subsidiary) in AUM scale, multi-stage investing, IPO exit track record, and specialization in technology and growth-stage enterprises in Greater China.
• IDG Capital: Among the earliest and most active venture capital firms in China with multi-stage investments across technology, healthcare, and consumer; directly comparable to DaChen on VC/PE investing model, fund-of-funds structure, and exit-driven revenue model.

Peers

• Fantawild Group (华强方特文化科技集团): Privately held Chinese theme park operator famous for Boonie Bears (熊出没) IP-driven parks, animation studios, and cultural-tech attractions. Closely comparable to Dianguang on 'IP-to-park' conversion model and digital immersive technology deployment, but with a national footprint and proprietary IP.

Broad incumbents

• Beijing Enlight Culture (光线传媒, 300251.SZ): Diversified Chinese entertainment conglomerate with film distribution, animation, and live entertainment/theme park interests (e.g., Enlight Scenic Spot). Comparable on entertainment-IP monetization and content-to-attraction pipelines, though larger in film distribution.
• China South Publishing & Media Group (中南出版传媒集团, 601098.SH): Major Hunan-based state-controlled cultural and media conglomerate (publisher, broadcaster, education services). Comparable as another state-controlled Hunan-origin cultural enterprise with diversified media revenue streams and government policy alignment.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hunan Tv & Broadcast Intermediary