Reported 8 months ago
Webank International Group announced on June 21st that it has acquired a 35.69% stake in VieShow Cinemas from Hong Kong Orange Sky Golden Harvest Entertainment Co. for approximately 1.249 billion yuan, becoming the largest shareholder of VieShow Cinemas and its subsidiaries and operations. This investment will further expand Webank's entertainment business portfolio. Webank International Group's film company will release over 10 movies this year, including Hollywood blockbusters, Korean action movies, and family-friendly animated films. They are also preparing to film a horror movie 'The Lodge' directed by Hong Kong director Pang Fa, as well as action movies 'Assassin' and a Korean version of 'Zhou Chu Remover of Three Evils,' both entering the pre-production phase. In late July, a script competition will be held in collaboration with international partners from Hong Kong, Korea, and Singapore to select Chinese-language movie scripts with commercial potential.
Source: YAHOO