Star Beautiful Media has recently developed momentum rapidly, so to speak, with continuous good news. On July 29th, after Star Beautiful International relisted in Hong Kong, it successfully acquired the listed company in Hong Kong Han Media Group within four short months. This accelerated the all-round development pace of Star Beautiful Media business and became a highly regarded media development force.
In the domestic film market's hot development and rapid box office increase situation, the further reorganization measures through cinema acquisitions will bring greater opportunities for Star Beautiful’s development. It is understood that if Star Beautiful's aforementioned acquisition and reorganization are smoothly completed within two months, Star Beautiful will become the listed company with the most cinemas in mainland China, with a promising development prospect! This will inevitably lead to a continuous rise in Star Beautiful's stock price.
Statement: Exclusive manuscript of China Film Network, please indicate the source for reprinting!
According to China Film News, on the occasion of the New Year, Star Beautiful International (Hong Kong Stock Market Number 198) officially announced that Mr. Qin Hui, the actual controller of Star Beautiful International Group, has signed an acquisition intention contract for another reorganization of the listed company. After the reorganization is completed, it will operate and manage no less than ten cinemas and facilities related to film production in China. By the end of December 2010, the company's new injected assets' profit after tax and extraordinary items will hopefully reach over HK$80 million, thereby further consolidating Star Beautiful's leading development position in the industry and becoming the listed company with the most cinemas in mainland China.
According to the announcement by Star Beautiful's board of directors, on December 29th, Mr. Qin Hui, the actual controller of Star Beautiful International Group, signed an acquisition intention contract and will complete the reorganization work of Star Beautiful International (Hong Kong Stock Market Number 198) within two months from the date of the contract. Currently, Star Beautiful Group mainly engages in entertainment-related businesses such as production, distribution, and granting of patents for films, TV series, documentaries, and information or entertainment programs, as well as cinema business. It operates three cinemas in Beijing and Shanghai, with a total of 21 screening rooms and 3761 seats. After the reorganization is completed, it will mainly add operations and management of no less than ten cinemas in Beijing, Shanghai, Shenyang, Tianjin, Xuzhou, Chongqing, Lanzhou, and Chengdu, with a total of no less than 80 screening rooms and 11321 seats. At that time, Star Beautiful will operate, manage, or own more than 100 screening rooms and over 15082 seats in the domestic film market.