HUAYI BROTHERS INVESTS MORE INTO HK SUBSIDIARY

AsiaInfo Services
05-19-2011
Huayi Brothers Invests More into HK Subsidiary

SHENZHEN, May 19, 2011 (SinoCast Daily Business Beat via COMTEX) -- Huayi Brothers Media Corporation. (300027.SZ) is going to inject USD 60 million into Huayi Brothers International Distribution Ltd. (Hong Kong), in a bid to tap further into the overseas market, according to the announcement of the former, the parent company.

This time, the increased capital will be used for the business cooperation with oversea film makers, such as Hollywood and enterprises in Europe, Asia, etc., in the coming three years.

Market analysts think that the operating incomes of Huayi Brothers can surge in the future when the Shenzhen-listed company enters deeper into the overseas market. Currently, Huayi Brothers International Distribution Ltd. (Hong Kong) is 100% owned by Huayi Brothers.

In addition, Huayi Brothers has planned to issue short-term financial bonds of CNY 600 million, proceeds from which will be used for production and distribution of movies and TV plays, as well as derivatives products.

Source: www.stcn.com (May 19, 2011)

KEYWORD: SHENZHEN INDUSTRY KEYWORD: Internet & Online Services & Media SUBJECT CODE: Media
Motion Pictures/Sound Recording
SinoCast China Business Daily news
short-term financial bonds
film
overseas market
parent company
cooperation
announcement
listed company

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