Oriental Network plans to invest 100 million yuan to establish Oriental Pictures and participate in the VR Industry Fund

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The announcement on the same day also announced that Orient Investment, a wholly-owned subsidiary of the company, plans to jointly invest with Heyi Capital Management (Beijing) Co., Ltd. to establish Shenzhen Bohao Investment Center. The total fund size will not exceed 100 million yuan. Orient Investment will contribute 10 million yuan with its own funds. Oriental Network announced on the evening of May 16 that the company plans to invest and establish a wholly-owned subsidiary Oriental Pictures (Beijing) Co., Ltd. with its own funds of 100 million yuan (the final name shall be subject to the name approved by the industrial and commercial administrative department), and register...

The announcement shows that Oriental Pictures 'business scope includes film and television program shooting, production and distribution, artist brokerage, investment management of film and television projects, film and television planning, etc.

Oriental Network announced on the evening of May 16 that the company plans to invest and establish a wholly-owned subsidiary Oriental Pictures (Beijing) Co., Ltd. with its own funds of 100 million yuan (the final name shall be subject to the name approved by the industrial and commercial administrative department), with a registered capital of 100 million yuan.

Orient Network stated that the company's investment in establishing a wholly-owned subsidiary is based on the needs of the company's strategic development. The company is still in the establishment stage and will not affect the company's financial situation in the short term.

The announcement on the same day also announced that Orient Investment, a wholly-owned subsidiary of the company, plans to jointly invest with Heyi Capital Management (Beijing) Co., Ltd. to establish Shenzhen Bohao Investment Center. The total fund size will not exceed 100 million yuan. Orient Investment will contribute 10 million yuan with its own funds. The fund is used to invest in VR projects, and Fantasy World (Beijing) Network Technology Co., Ltd. serves as the investment consultant of the fund.

This time, the company participated in the investment and establishment of a VR fund to invest in the VR industry, further expanding the company's business scope, broadening the company's profit channels, enhancing the company's profitability and competitiveness, and promoting sustainable and stable growth of the company's performance.

[Original Announcement]

Dongfang Network: Announcement on Investing and Establishing a Wholly-owned Subsidiary

Dongfang Network: Announcement on Participating in Investing and Establishing a VR Industry Fund

Editor: yvonne