Yinji Media subsidiary invested 200 million yuan to set up a film and television company

Yinji Media announced on Thursday that its wholly-owned subsidiary Yinji Film and Television Entertainment Media Co., Ltd. plans to jointly invest with Horgos Youshi Advertising Co., Ltd.(hereinafter referred to as "Youshi Advertising") to establish Yinji Longjiang Media Co., Ltd.(hereinafter referred to as "Yinji Longjiang") to engage in radio, film and television production, distribution, trading, broadcasting, publishing, derivatives development, and advertising business.

Yinji Media announced on Thursday that its wholly-owned subsidiary Yinji Film and Television Entertainment Media Co., Ltd. plans to jointly invest with Horgos Youshi Advertising Co., Ltd.(hereinafter referred to as "Youshi Advertising") to establish Yinji Longjiang Media Co., Ltd.(hereinafter referred to as "Yinji Longjiang") to engage in radio, film and television production, distribution, trading, broadcasting, publishing, derivatives development, and advertising business.

Yinji Longjiang has a registered capital of 400 million yuan, Yinji Film and Television has a cash contribution of 204 million yuan, holding 51%, and Youshi Advertising has a cash contribution of 196 million yuan, holding 49% of the shares.

Yinji Media said that the establishment of the new company is to adapt to the needs of the company's future business development and prepare for the company's next step in developing intelligent TV terminal business. The funds for this foreign investment all come from the self-raised funds of the company and its subsidiaries, and will not have a significant impact on the company's financial status and operating results this year.

Yinji Media completed the listing of backdoor Gaojin Food at the beginning of this year. Its performance commitments for 2014-16 were 430 million yuan, 558 million yuan and 719 million yuan respectively, with a compound annual growth rate of 38%. The actual results in 2015 were slightly higher than the promised results. The high growth mainly comes from the expansion of the scale of the integrated marketing business and the improvement of profitability. The film and television business is a more prominent part of Yinji Media this year. The company is one of the few companies in China to cooperate with Hollywood. This year, two blockbuster co-productions,"Top of Speed" and "The Thief", have been released.

[Original Announcement]

Yinji Media: Foreign Investment Announcement

Editor: vian