Kunlun Wanwei will join hands with Dongfang Network to cooperate in the fields of games, film and television

On January 2, the listed company Kunlun Wanwei announced that it had signed a strategic cooperation agreement with Dongfang Network to expand its business. The two sides plan to fully enter Africa, Southeast Asia and other Belt and Road countries, jointly carry out business cooperation in mobile games, mobile TV, mobile video, mobile news and other business, and strive to cover 500 million users in Belt and Road countries within three years. At the same time, they plan to invest in Hollywood films and conduct comprehensive cooperation in distribution, mobile TV, and OTT TV.

Original title: Kunlun Wanwei cooperates with Dongfang Network in the fields of games, film and television

. On the evening of January 2, the listed company Kunlun Wanwei issued an announcement saying it was expanding the company's business and had signed a strategic cooperation agreement with Dongfang Network.

According to the announcement, Kunlun Wanwei signed the "Strategic Cooperation Agreement between Beijing Kunlun Wanwei Technology Co., Ltd. and Dongfang Times Internet Media Co., Ltd." with Dongfang Network on December 30, 2016 based on the company's strategic development plan. The two parties plan to fully enter Africa, Southeast Asia and other Belt and Road countries to jointly carry out business cooperation in mobile games, mobile TV, mobile video, mobile news and other business cooperation. We strive to cover 500 million users in Belt and Road countries within three years; at the same time, we plan to carry out comprehensive cooperation in investment and distribution of Hollywood films, mobile TV, and OTT TV; cooperate in adaptation of film and television games; and conduct in-depth cooperation through overseas online media.

In addition, this cooperation between the two parties does not constitute a major asset reorganization.

Oriental Times Internet Media Co., Ltd. was established in June 1989 with a registered capital of 289.91 million yuan. It mainly specializes in Internet information services such as film and television, animation, and games, and has a radio and television program production and operation license. According to the financial report, Dongfang Network's current total assets are 2.8 billion yuan. In the first three quarters of 2016, its total revenue was 370 million yuan and its net profit was 24 million yuan.

The cooperation agreement between the two parties stipulates that both parties must provide each other with preferential investment subscription rights within the time limit of the agreement, and the cooperation period is 5 years from the date of signing this agreement. As of press time, the shares of Kunlun Wanwei and Dongfang Network showed an increasing trend at the opening of today.

Editor: yvette