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Hengdian Group’s IPO Application Approved
Post Time: 09/10/2017

August 22, 2017 is a day worth remembering for Hengdian Group. On this day, the initial public offering application (IPO) of Hengdian Film and Television Entertainment Co., Ltd. (HFTE) was approved by the China Securities Regulatory Commission.

HFTE intends to issue no more than 53 million shares and will go public at the Shanghai Stock Exchange. HFTE is a private national movie theater chain approved by the Administration of Press, Publication, Radio, Film, and Television, and it has theaters nationwide. Taking advantage of the brand influence of Hengdians film and television industry, HFTE is investing theaters and cinemas-related capitals and expanding the market in the third, fourth, and fifth tier cities. It has received great recognition from the Chinese people, and has become a significant force in Chinas movie industry. As of the end of June, 2017, HFTE had more than 300 theaters. It has become the top three in box office results in China’s movie theater chains.

In order to put the idea of “building a culturally strong country raised by Xi Jinping” into practice and respond to the strategy of developing Zhejiang’s cultural industry, HFTE will stick to the core values of Hengdian Group and fulfill its corporate responsibility to build itself into the leader of China’s cultural industry. (By Chen Yajun, translated by Pu Yanli, edited by Kendra Fiddler)

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