July 4 (NBD) -- Chinese media group CMC Inc announced Tuesday that it has completed its Series A financing round of about 10 billion yuan (1.5 billion U.S. dollars) led by China Vanke Co Ltd ("Vanke", 000002.SZ) and tech giants Alibaba Group Holding Ltd and Tencent Holdings Ltd.

It is noted that the media firm is valued at around 40 billion yuan (6.0 billion U.S. dollars) after the financing round, which pushed it to the second place in terms of valuation in the media sector. 

Statistics from financial data provider Wind show that by the close of Tuesday trading, Wanda Film Holding Co Ltd (002739.SZ) topped the ranking list with a total valuation of 61.1 billion yuan (9.2 billion U.S. dollars), followed by Oriental Pearl Media Co Ltd (600637.SH) which was valued at 39.3 billion yuan (5.9 billion U.S. dollars).

Noticeably, Vanke is a new investor of CMC Inc, which is the first cultural enterprise that the real estate giant has invested in. The investment is a demonstration of Vanke's strategy to develop diversified business. 

Before the financing round, Vanke and CMC inked a strategic agreement in late October last year to enhance collaboration in fields such as cultural and entertainment venues, leisure vacation, education and sports and smart communities.

Email: zhanglingxiao@nbd.com.cn