September 16 -- Anhui Xinhua Media (601801) reported yesterday that it plans to invest 18.824 million yuan to subscribe 941,200 shares of xinhuanet.com at 12.55 yuan per share, with a price to earnings ratio of 17.04, equivalent to one percent of total capital, reports Sina Technology, citing the company’s announcement.

Xinhuanet.com was founded in Beijing in July 2000 with registered capital of 80 million yuan under the sponsorship of Xinhua News Agency and the China Economic Information Service. Xinhuanet.com’s name was changed to Xinhuanet Corporation at the beginning of 2011.