October 25 Japanese Sohu filed with the securities and Exchange Commission (SEC) of the 8K document, an indirect wholly-owned subsidiary of the Beijing Sohu of new media information technology Co. Ltd. and the tour’s indirect wholly owned subsidiary of Beijing tourease Network Technology Co., Ltd. signed a loan contract.
according to the content of the contract, Sohu’s new media will be regularly from the world’s most popular loan of 1 billion yuan, or about $148 million 640 thousand, the annual interest rate of 6%. The first loan must be made on or before December 31, 2016, and the fourth must be made a year later. Sohu is ready to use the money to help the company’s operations, but does not cover the swim and Sogou business.
at the same time, a wholly owned subsidiary of Sohu, swim direct parent company Sohu (gaming) Co., Ltd. and also signed a contract to sign a cruise. According to the contract, Sohu (game) Co., Ltd. promised to hold 11386228 shares of shares of ordinary shares to swim to swim in order to finance new media loans.
According to media reports, Sohu
2 and a half of the overall poor performance of the business, in addition to a quarterly profit, the other quarter losses. The company’s third quarter GAAP (GAAP) net loss of $75 million, on a quarterly net loss of $63 million 20 thousand, Sohu a total loss of $137 million in the past six months, the past 4 quarter loss of $189 million.
as of September 30th this year, swim held net cash of $848 million in the last year was $755 million in December 31st. As of September 30th this year, Sohu group cash and cash equivalents and short-term investments of $1 billion 360 million, as of last year was $1 billion 420 million in December 31st.
tour is a Sohu cash cow, Sohu group to deploy cash tour to develop other new business, similar to WeChat and other Tencent with game feed business practices. Sohu in particular to invest in the field of funds is the focus of the development of video services. So Sohu want to swim around the world borrowing 1 billion, and does not cover the swim and sogou.