Hylands Assists the Production Company Combustion Small Universe of The Truth of Consumption to Complete Series A Financing

In September 2018, the production company Xinjiang Combustion Small Universe Media Co. Ltd. (Combustion Small Universe) of The Truth of Consumption raised a total of CNY 25 million, which would be mainly used for the accumulation of related technologies and core talent reserve of the Combustion Small Universe.

Established in July 2017, the Combustion Small Universe is jointly established by an international professional business operation team and a variety show production team with many years of industry experience, aiming at realizing the incubation and acceleration of original projects including the variety shows through a series of services such as a new director training system at the ‘idea output end’ and a content whole-process monitoring and decision-making system at the ‘production end’, thus establishing a systematic barrier.

The first large-scale show The Truth of Consumption launched by the Combustion Small Universe with more than 800 million hits has become the show with the best commercial performance of its kind on Youku in 2018. In 2019, the Combustion Small Universe planned to launch several large-scale variety shows, including The Truth of Consumption 2 and Champion 11, etc.

During the transaction, Hylands acted as the legal adviser of the Combustion Small Universe is responsible for providing all-around legal services for corporate financing and coordination of legal processes. The main services provided include putting forward analytical opinions on transaction structure design, conducting legal due diligence, drafting transaction documents and other relevant documents, participating in transaction negotiations and assisting in transaction settlement, etc. The project was jointly completed by partner Zhitong ZHU, attorney Hanzi SHI and assistant lawyer Haoran WANG, which was highly recognized by the investors and the Combustion Small Universe.