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HONG KONG, Sept 2, 2016 - (ACN Newswire) - China Everbright Limited ("CEL", stock code: 165.HK) announced that IDG-Everbright M&A Investment Fund ("the Fund") which was jointly established by CEL and IDG Capital Partners, has acquired a controlling stake in the Shanghai Film Art Academy ("Film Academy" or "the Academy"), to join hands to construct a "Bright Future Film & Television Industry Base".
Cultural education and film entertainment have been the segments that IDG-Everbright M&A Investment Fund focuses on. The latest investment in the Academy marks an important strategic move for the Fund in the film and education industries. The Academy is a full-day institute of higher education in the fine arts, recognised by the Ministry of Education, Ministry of Culture and Shanghai Municipal Government. Being one of two independent educational institutions in China focused on film, the Academy has excellent brand cache among professionals and students. It is currently working with the New York Film Academy to offer courses and will welcome its first batch of international students in September 2016.
As the controlling shareholder of the Academy, the Fund will invest in Shanghai for constructing a "Bright Future Film & Television Industry Base", with activities ranging from IP incubation, nurturing filmmaking talents, building high-tech movie studios, acquiring quality Hollywood independent film companies, post-production companies and special effects teams, as well as to work closely with premium film companies and schools in Europe, which all together helps consolidate the entire film industry chain and nurtures the growth of China's film industry.
About China Everbright Limited
China Everbright Limited ("CEL", stock code: 165.HK) is the largest overseas financial platform of China Everbright Group Ltd. ("Everbright Group"). It is the second-largest shareholder of Everbright Securities (stock code: 601788.SH, 6178.HK) and a strategic shareholder of China Everbright Bank (stock code: 601818.SH, 6818.HK), the controlling shareholder of the Hong Kong-listed China Aircraft Leasing Group Holdings Limited (stock code: 1848.HK), the largest shareholder of Shanghai Jiabao Industry & Commerce (Group) Co., Ltd (stock code: 600622.SH), and the second-largest shareholder of the Singapore-listed Ying Li International Real Estate Limited (stock code: 5DM. SGX). As at end-June 2016, CEL managed 33 funds with a total fundraising amount of more than HK$67.8 billion. Everbright Group, the parent company of CEL, is a state-owned financial conglomerate with AUM of approximately RMB3,000 billion as at end-2015. For more information about CEL, please visit www.everbright165.com.
About the Shanghai Film Art Academy
The Shanghai Film Art Academy is a full-day fine arts institute of higher learning founded in December 2003. Approved by the Ministry of Education, the Ministry of Culture and the Shanghai Municipal Government, it is China's second independent educational institution dedicated to the study of film. The Academy is located in the Zhangjiang Hi-Tech Park in Pudong, Shanghai, and offers 15 specialist fields such as film art, animation games and digital design. Currently it has nearly 3,000 students.
As the Ministry of Culture's jointly founded pilot institution of higher art education, the Academy's mission is to enhance its students' knowledge, abilities and quality. The Academy emphasises the integration of art and technology with a curriculum that combines learning and production. It focuses on practical teaching, and its primary goals are applying skills and nurturing artistic talent. The Academy also seeks to expand its talent pool by internationalising its campus.
Now in its 12th year, the Academy and its specialised fields have achieved stellar growth. It has evolved into a unique fine arts school bustling with artistic and creative energy, with focused goals and exceptional results. It has also become a centre for nurturing modern digital art talent, and an important base for harmonious cultural creation and dissemination. Please visit at http://www.shfilmart.com.
About IDG Capital Partners
The first foreign investment team to enter the Chinese market, IDG Capital Partners focuses on leading companies in a variety of sectors, including technology, media and telecommunications (TMT), consumer products and services, healthcare and industrial technology. Since 1992, IDG Capital has invested in more than 450 companies, including Tencent, Baidu, Sohu, SouFun, Htinns, Homeinns, CreditEase, Xiaomi, Ctrip, Qihoo360, Legendary Pictures, Baofeng Technology, Wuzhen Tourism, Gubei Watertown, Meitu, bilibili and Mogujie. The firm has also successfully exited over 100 investments through both initial public offerings (IPOs) and mergers and acquisition (M&A).
IDG Capital is also active in the film industry. In 2010, IDG Capital invested in U.S.-based Legendary Pictures, Inc. and then successfully exited the company in 2016 after Legendary was acquired by Wanda Group. In 2011, IDG also initiated and sponsored "Looking China," a program that teams foreign film students with students from Beijing Normal University's Institute for International Communication of Chinese Culture to produce short documentaries about China. More than 300 film students from 35 countries participated in the program, and films produced there have won more than 40 international awards. In addition, IDG Capital has also invested in a number of feature-length films, including Turning Point 1977, Under the Hawthorn Tree, and My Old Classmate. For more information about IDG Capital, please visit http://www.idgvc.com/.
For enquiries, please contact:
Golin
Jackie Cheung
Tel: +852 2501 7901
Email: jcheung@golin.com
Max Lau
Tel: +852 2501 7905
Email: mlau@golin.com
Topic: Press release summary
Source: China Everbright Ltd
Sectors: Daily Finance, Daily News
http://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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