(MENAFNEditorial) HONG KONG, Aug 18, 2017-(ACN Newswire)-HMV Digital China Group Limited (HKE: 8078), a leader in the entertainment industry with a complete vertically integrated business chain, is pleased to announce that a dialogue between the Grand Duchy of Luxembourg and the Group has been initiated.
On 17 August, the HMV Group, led by Mr. Stephen Shiu Jr., Chairman, with the collaboration of Growing Capital Group, met the Minister Counsellor - Deputy Head of Mission, Mr. Roland Reiland, and the Economic Counsellor, Ms. Anneleen Van Landeghem, of the Embassy of the Grand Duchy of Luxembourg in China.
Under the "Belt and Road" Initiative, the discussion with the Luxembourg government opens a door for the Group in entering an international capital markets platform for growing its cultural entertainment business with a global perspective and a long-term vision.
Regarding the growth of Chinese movie industry, as of 2016, China ranked the No.1 nation with over 40,000 screens, surpassing that of the U.S. It is expected that China's number of screens will grow to about 80,000 by 2020. However, competition in the market is growing more intense.
Mr. Shiu Stephen Jr., Chairman of HMV Digital China, said:
"To seize the opportunities in the flourishing Chinese entertainment industry in the midst of its growth stage, an extended capital platform stretching from Hong Kong, China to Europe will provide a strategically more advantageous position for the Group in expanding our cultural entertainment business worldwide."
Luxembourg, as one of the largest capital markets in the world, has been deemed a bridge between China and Europe for foreign investors who are looking to the Chinese onshore market for growth opportunities. As an international RMB centre, Luxembourg is the 2nd largest domicile of funds investing in Mainland China after Hong Kong.
Mr. Roland Reiland, Deputy Head of Mission, commented:
"The exchange with HMV Digital China is fruitful and inspirational. As a major capital market in Europe investing in Chinese markets, we feel the vibrant and fast growing cultural entertainment industry in China will create lots of interest from European investors in Luxembourg."
Currently, 65% of European funds investing in Mainland China are domiciled in Luxembourg. Moreover, Luxembourg stock exchange is the leading exchange in Europe for listing Dim Sum Bonds, and the second worldwide. Luxembourg monitors ongoing developments in financial opportunities including the RMB Qualified Foreign Institutional Investor (RQFII) scheme, CIBM, and Stock-Connect programs in China, which provide ample opportunity for HMV's financial advancement in a global perspective.
About HMV Digital China Group Limited (HKE: 8078)
Established in 2010, HMV Digital China Group Limited was listed on the Growth Enterprise Market of the Hong Kong Stock Exchange in the same year. It holds a leading position in the entertainment industry with a complete vertically integrated business chain. Main businesses comprise upstream businesses of film production and post-production, and mid-stream businesses of film distribution, cinema operations and artist management.
The Group closely cooperates with the leading video operator, iQIYI, and internationally renown producers to offer the best films to film lovers. It currently operates five cinemas in China located in Quanzhou, Xiamen, Guangzhou and Chongqing, and one managed cinema in Chongqing. Its self-owned artist management companies, such as GME and Starz People, currently have more than 30 artists under management.
Recently, the Group completed the acquisition of HMV M&E Limited, which serves as the retail and advertising platform of its downstream business. For further details on HMV Digital China Group Limited, please visit our website at .
This press release is issued on behalf of on HMV Digital China Group Limited by LBS Communications Consulting Limited. For enquiries, please contact:
LBS Communications Consulting Limited
Joanne Chan, +852 3679 3671,
Pauline Fu, +852 3752 2674,
Fax: +852 3753 2899
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