Hengdian Entertainment Co.,LTD entered into a memorandum of understanding to acquire Shanghai Xingyi Cinema Management Co. from Changzhou Hengxuan Consulting Management Co., Ltd., Shanghai Muwei Investment Partnership (Limited Partnership), and Shanghai Xuyue Enterprise Management Consulting Center (Limited Partnership) for CNY 3 billion.
July 06, 2022
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Hengdian Entertainment Co.,LTD (SHSE:603103) and others entered into a memorandum of understanding to acquire Shanghai Xingyi Cinema Management Co. from Changzhou Hengxuan Consulting Management Co., Ltd., Shanghai Muwei Investment Partnership (Limited Partnership), and Shanghai Xuyue Enterprise Management Consulting Center (Limited Partnership) for CNY 3 billion on July 5, 2022. As per the transaction, Hengdian Entertainment Co.,LTD (SHSE:603103) will acquire 70% stake in Shanghai Xingyi Cinema Management Co. The Potential Disposal is still subject to the formal sale and purchase agreement, which shall be entered into by the parties on or before October 8, 2022.The board (the ôBoardö) of directors (the ôDirectorsö) of the Company wishes to inform the
shareholders and potential investors of the Company that as the Company, together with its wholly-owned subsidiary, Changzhou Hengxuan, was unable to conclude a formal agreement in relation to the Potential Disposal with the Potential Buyer before 8 October 2022, the Potential Disposal will not be proceeded (the ôTermination of Potential Disposalö).
Hengdian Entertainment Co., Ltd. is a China-based company mainly engaged in cinema releasing, film screening and related derivative business. The Company mainly has four business segments. The Film Screening Business segment is mainly engaged in sales of film tickets and related business through its affiliated cinemas. The Sales Business segment is mainly engaged in research and development of cinema products and related business. The Advertising Business segment is mainly engaged in the provision of venue advertising and film patch advertising and other related services. The Cinema Distribution Business segment is mainly engaged in the provision of cinema services through its cinema chains. The Companyâs major releasing films include Top Funny Comedian, Rock Hero, Ten Thousand Years Later, Love Will Tear Us Apart and others.
Hengdian Entertainment Co.,LTD entered into a memorandum of understanding to acquire Shanghai Xingyi Cinema Management Co. from Changzhou Hengxuan Consulting Management Co., Ltd., Shanghai Muwei Investment Partnership (Limited Partnership), and Shanghai Xuyue Enterprise Management Consulting Center (Limited Partnership) for CNY 3 billion.
HENGDIAN ENTERTAINMENT CO.,LTD 
