At its corporate and business development briefing in Beijing today, with many guests and entertainment celebrities in attendance, the Group hosted a ceremony to kick off its cooperation with various artistes, agents and scriptwriters. The Group also showed projects of its film and television and variety shows, plus explained its future development direction. It believes the strategy will give it new impetus to grow and therefore is conducive to the long-term development of its business.

Ms. Zhao Wenzhu, President and Executive Director of Transmit Entertainment, said, "We are very happy with marking yet another milestone after acquiring Khorgas Houhai Culture Media Company Limited ("Houhai Culture") last year. The latest cooperative partnerships will allow the Group to build on its existing firm foundation and continue diversifying its film and television entertainment cultural business, and, in turn, deliver yet more quality films and television productions to consumers to satisfy their varied entertainment preferences."

"Looking forward, alert to the huge development potential of film and television business in the Greater China region, the Group will continue to look for investment opportunities in quality entertainment projects worldwide and also grasp development opportunities bred by the upgrade in the consumption of entertainment content. Our goal is to build Transmit Entertainment into a leading comprehensive film and television entertainment provider and, ultimately, create long-term value for shareholders."

In August 2018, at RMB450 million, Transmit Entertainment completed the acquisition of Houhai Culture, which has a professional film and television planning and production team expert in content creation. Armed with extensive industry experience and connections in such areas as film and television programme planning, production and distribution, the team is capable of scriptwriting, shooting, post-production, distribution and marketing functions. The strategic acquisition not only gives the Group the Broadcasting And television Program Production And Operation License held by Houhai Culture and therefore access to the huge and potential-rich showbiz sector in mainland China. It also confers on the Group the intellectual property rights of Houhai Culture's variety shows and television series, enabling it to quickly develop into a film and television entertainment provider with a complete industry chain.

About Transmit Entertainment Limited (stock code: 1326)Transmit Entertainment is a media and entertainment company with a diverse portfolio. Its main businesses include: (i) production, distribution and licensing of variety shows, television series and films; (ii) screening of films; (iii) post-production; and (iv) advertising, marketing and publication. The Group mainly produces Chinese films, television entertainment programs and television drama series for the Hong Kong and Mainland China markets. It also operates five cinemas and one post-production company in Hong Kong. Its subsidiary Houhai Culture has a professional film and television production team particularly adept in producing variety shows and television drama series, from screenwriting, shooting, post-production to distribution and marketing. It also owns copyrights to a large number of television drama series and has been closely cooperating with top-tier broadcast networks and online streaming platforms.

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