On this day, 27 years ago, on December 1, 1998 (October 13, 1998, the lunar calendar), Lifang Huayuan merged and Sina.com was established. Press conference on the establishment of Sina.com According to Xinhua Agency, Sitong Lifang Company, the first domestic company to introduce international high-tech venture capital, announced in Beijing on November 30 that it will merge with Huayuan Information, the largest overseas Chinese Internet company, to jointly establish Sina.com, the world's largest Chinese website on the Internet. Sitong Lifang Company is a private high-tech enterprise specializing in computer software development in Zhongguancun, Beijing. In December 1993, its Chinese platform system software had a market share of more than 80% among similar products, and was pre-installed on computers of well-known domestic and foreign brands on a large scale. In May 1996, Libya established a Chinese website on the Internet, making Chinese information processing technology and Chinese website construction complementary. Since the beginning of this year, Lifang President Wang Zhidong has visited Silicon Valley in the United States for three consecutive times to "treasure hunting" and determined that developing global Chinese Internet website business will be the company's main development direction in the future. It is estimated that the new company after the merger of Lifang and Huayuan will establish an Internet website called "Sina", which is expected to have more than 400,000 visitors per day, making its scale the largest among Chinese in the world. At the same time, branches or offices will be set up in major cities in China, Hong Kong, Taiwan, Singapore, North America and other places, and corresponding local websites will be opened to provide comprehensive software, news, information and online services. After the merger, Sina.com will have more than 400,000 daily visits, and the total value of the new company will exceed US$50 million. According to the Beijing Morning Post, Sitong Lifang's original website, Lifang Online, is the first of its kind in the Chinese network and is one of the most popular Chinese websites. The original website of Sina.com, China.com, covers North America, Taiwan and other places. After the merger, Sina.com will have more than 400,000 visitors per day. The new company will set up branches or offices in major cities in China and important Chinese regions such as Hong Kong, Taiwan, Singapore, and North America, and open corresponding local versions of Sina websites to provide comprehensive services such as news, information and software. Sitong Lifang Company is a private high-tech enterprise engaged in Chinese software development, sales and services in Zhongguancun, Beijing. After the acquisition of "Huayuan", the total value of the company will exceed US$50 million, laying the foundation for further financing and listing. It is reported that Sitong Lifang will also carry out a new round of huge financing operations and introduce a package of new measures to give full play to its advantages as a multinational company. Domestic Internet users have soared to 2 million, and the "Sina" Chinese website came into being to attract more advertisers. According to a report by Beijing TV Station "Beijing Morning", Sina.com is a Sitong Lifang Chinese service after annexing Huayuan Information, the largest overseas Chinese Internet website, will have more than 400,000 visitors per day, making it the largest Chinese website. Today, as the role of the Internet continues to expand, Chinese websites are an area that needs to be developed urgently. According to data, the number of netizens in China has grown from less than 300,000 last year to nearly 2 million now. Most of the current online information is in English, and Chinese information is far from sufficient. This has made most businesses reluctant to advertise on Chinese websites, which not only wastes resources, but also damages economic benefits. The establishment of "Sina. com" this time will not only help netizens obtain information, but will also enhance merchants 'trust in Chinese websites. The complementarity has benefited both parties a lot. As part of the merger plan, the new company will also be listed in the United States in the third and fourth quarters of next year. According to a report from Beijing TV's "Capital Economic Report", the company that has achieved the merger with Sitong Lifang, a well-known domestic software company, is currently the largest Chinese-language website company outside China, and its Chinese-language website already covers North America, Taiwan and other regions. Therefore, the Sina website established by the new company after the merger will include the existing websites of "Lifang Online" and Huayuan. com, and will cover mainland China, Taiwan, Hong Kong, North America and other countries and regions. This will greatly promote the use of Stone Lifang's advantages in software development and domestic website construction and its entry into the international market. For Huayuan Company, the complementarity between the two parties will benefit them a lot. Jiang Fengnian, president of Huayuan Information Company, said: "We are too complementary and we have almost no overlap. So Sitong Lifang has such a great reputation in China, Hong Kong, and has such a large number of users, while we are in North America, we have a high market share in the United States, Taiwan and other overseas regions. There is no waste in it, so the benefits of integration will be quite good. "In addition, more importantly, this integration has increased the total assets of Sitong Lifang. Among the company's total value of US$50 million, Sitong Lifang accounts for the majority. This expansion method of mergers and acquisitions is useful for my country. It has certain reference significance for private high-tech enterprises that generally lack funds. Wang Zhidong, president of Sitong Lifang Information Technology Co., Ltd., said: "As a company, a private enterprise, especially when high-tech enterprises are growing rapidly, how can we use some capital management methods? A lot of us are talking about venture capital outside now. In fact, in addition to private placement, venture capital is also one of the methods." It is reported that this merger is still in progress, and the Sina.com Beijing website established on the basis of the original Sitong Lifang website has been opened in Beijing. In addition, as part of the M & A plan, the new company also plans to list in the United States in the third and fourth quarters of next year to facilitate venture capital institutions to recoup their investment. After pioneering private high-tech enterprises to undertake key projects of the National 863 Plan and introduce venture capital in the information industry, Sitong Lifang successfully acquired the U.S. Silicon Valley High-tech Company. According to the China Business Times, the private high-tech enterprise Sitong Lifang Company announced in Beijing on November 30 that it had successfully acquired Huayuan Information, the largest overseas Chinese Internet website company headquartered in Silicon Valley, United States. It also began to establish the world's largest Chinese website, Sina. com (SINA), which opened its Beijing website early yesterday morning. This move has made Sitong Lifang an influential high-tech multinational company. Wang Zhidong, founder of Sitong Lifang Company, is the inventor of the world's first plug-in Chinese platform "Chinese Star", and Yan Yaodang is the inventor of the world's first Chinese character system. Both are experts in the field of Chinese information processing. The company's flagship product, the RichWin series of Chinese platform software, has a market share of more than 80% among similar products and is pre-installed on computers of well-known domestic and foreign brands on a large scale. Sina leadership, from left: Mao Daolin, Wang Zhidong, Jiang Fengnian, Yan Yuanchuan, Jiang Xianbin