Xingmei Group plans to add 300 new theaters this year to be spun off and listed in the mainland

Yang Rongbing, executive director of Xingmei Holdings, recently stated that its parent company Xingmei Group intends to spin off some of its businesses and list them on the mainland's main board. In addition, in order to meet the goal of adding 300 new theaters this year, Xingmei plans to raise funds in the market and give priority to negotiations with existing shareholders such as Baidu. The total funds required are 2.5 billion to 3 billion yuan.

Yang Rongbing, executive director of Xingmei Holdings, recently stated that its parent company Xingmei Group intends to spin off some of its businesses and list them on the mainland's main board.

In addition, in order to meet the goal of adding 300 new theaters this year, Xingmei plans to raise funds in the market and give priority to negotiations with existing shareholders such as Baidu. The total funds required are 2.5 billion to 3 billion yuan, about one-third of which will be paid by the company, and the rest is planned to be raised through rights issues, bank loans, bonds, etc. He believes that with the strategic cooperation relationship between Baidu and the company, the other party will actively follow up on all refinancing plans, including plans to list in the mainland.

The New Year movie "Mermaid" directed by Stephen Chow, released by Xingmei Group and Bingo Group, ended well in both the mainland and Hong Kong. On the first day, the pre-sale box office in the mainland exceeded 100 million yuan, setting a new record. During the Spring Festival, the box office reached 1.46 billion yuan.

Editor: vian