BesTV New Media Co Ltd (SHA:600637), a subsidiary of Shanghai Media Group (SMG), launched its IPO on the Shanghai Stock Exchange on December 29, 2011, as the first new media stock in China.

BesTV New Media owns 100 percent equity of BesTV NetTV Technology Development Co.,Ltd, Shanghai Media & Entertainment Technology Group and Shanghai Film, Radio & TV Production Co.,Ltd. BesTV has also radiated its investment in some network enterprises, such as Shanghai Information Investment Inc and Funshion Online.