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Sogou's equity exposure: Zhang Chaoyang and Sohu hold 40.2% shares, slightly higher than Tencent

via:博客园     time:2020/4/24 9:12:19     readed:499


Author / Lei Jianping

Source: ID: touchweb

Original title: Sogou equity exposure: Zhang Chaoyang and Sohu hold 40.2% shares, slightly exceeding Tencent

Sogou recently submitted 20-F documents to the US SEC, which showed that as of March 31, 2020, CEO Zhang Chaoyang of Sohu held 24686863 class A shares, 6.4% of the shares, and 0.9% of the voting rights;

Sogou CEO Wang Xiaochuan has 21216400 class a common shares, 5.5% equity and 0.7% voting rights.


Sogou's equity structure as of March 31, 2020

Sohu group holds 3717250 class a common shares and 127200000 class B common shares of Sogou, with a total of 33.8% equity and 44.1% voting rights; Tencent owns 151557875 class B common shares, 39.2% equity and 52.3% voting rights.

As of March 31, 2020, Tencent is the single largest shareholder of Sogou, while Sohu group and Zhang Chaoyang hold a total of 40.2%, slightly exceeding Tencent.

As of March 15, 2019, Zhang Chaoyang holds 6.2% of the shares and owns 0.8% of the voting rights; Wang Xiaochuan, Sogou CEO, holds 5.3% of the shares and owns 0.7% of the voting rights;


Sogou's equity structure as of March 15, 2019

Sohu holds 33% of Sogou's shares and 43.9% of its voting rights, which is the second largest shareholder; Tencent holds 38.2% of its shares, which is the first largest shareholder with 52.2% of its voting rights.


According to the data, in the past year, the shareholding of Zhang Chaoyang, Wang Xiaochuan, Sohu and Tencent has increased slightly. The above four parties hold 84.9% of Sogou's equity. If combined with the shareholding of some Sogou employees, Sogou's real equity in the market does not exceed 15%.


Currently, Sogou's market value is $1268 million due to the downturn in the advertising market. It is understood that Sohu, Tencent and Sogou have agreed that Tencent will entrust part of the voting rights to Sohu, and Sohu has the right to appoint most board members of Sogou, so Sohu will become the controlling shareholder of Sogou.


In 2019, the operating revenue of Sogou exceeded 8 billion yuan, an increase of 9% over the same period of last year; in 2019, under the non-U.S. general accounting standards, the net profit attributable to Sogou exceeded 730 million yuan.

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