Dadi Cinema Group acquires Orange Sky Golden Harvest China Studios business to further expand its market footprint

Dadi Cinema Group announced that it will fully acquire all the mainland of China studios owned by Orange Sky Golden Harvest for RMB 3.387 billion.

On January 25, 2017, Dadi Cinema Group announced that it would fully acquire all the mainland of China regional studios owned by Orange Sky Jiahe Entertainment (Group) Co., Ltd.(hereinafter referred to as "Orange Sky Jiahe") for a price of RMB 3.387 billion.

Dadi Cinema Group is the second largest cinema investment management company in China. As of the end of 2016, it had 350 theaters operating across the country, with 1,911 screens, covering 164 cities. In 2016, the box office was 2.237 billion yuan, with 73.25 million movie-goers.

Orange Sky Jiahe is one of the major domestic cinema investment management companies. It has 76 cinemas and 531 screens in 36 cities in the mainland of China. In 2016, the box office was 808 million yuan, with 24.6 million movie-goers.

"Orange Sky Jiahe's cinemas are mainly located in first-and second-tier cities, which is a good complement to Dadi Cinema's market layout, which is mainly located in second-and fourth-tier cities. This acquisition not only improves the layout of Dadi Cinema Group across the country, but also helps it improve operating efficiency through resource integration." Yu Xin, general manager of Dadi Cinema Group, said.

After the completion of this acquisition, Dadi Cinema Group will have 426 theaters and 2,442 screens across the country. The acquisition will form synergy and integration benefits with Dadi Cinema's core capabilities and high-quality resources, which will be beneficial to its future client-oriented long-term development strategy, and will also lay a more solid foundation for the implementation of Dadi Cinema's "Film +" strategy. foundation

Editor: yvonne