Recently Sanpower Group (Sanpower) and Ganglong Holdings Group Co., Ltd. (Ganglong Holdings) have signed a strategic cooperation agreement, announcing joint efforts to develop film & TV-related industries. Zou Yan, Vice President of Sanpower and Huang Yubin, Board Director of Zhongying Haigang under Ganglong Holdings signed the agreement on behalf of respective sides. Yuan Yafei, Chairman of Sanpower; Cai Zhiyuan, Chairman of Ganglong Holdings and other executives attended and witnessed the signing ceremony.

According to the cultural consumption index report, the potential scale of China's cultural consumption is 4.7 trillion yuan, but the actual consumption gap exceeds three trillion yuan. The film plays an important role in people's cultural and entertainment life. From 2009 to 2015, the total number of film goers soared from 204 million to 1.31 billion, with the number of screens and cinemas both growing. The industrialization pattern of the Chinese film market has taken shape, and financial instruments have made their way into the film & TV industry to integrate capital with film & TV more closely.

While intensively acquiring overseas commercial retail and health & medical enterprises, Sanpower has extended its business range to culture. Since 2013, Sanpower has developed the cultural sector in ways such as M&A and cooperation. The cultural entertainment industry has become a new key sector developed by Sanpower currently.

To perfect its strategic layout in the fields of film & TV and culture and open up the whole film industry chain, Sanpower established Sanpower Film Industry Co., Ltd. this October. Sanpower Junjian Investment Co., Ltd. initiated Sanpower Prosperity Film & TV Fund and Sanpower Chutai Fund. As an enterprise engaged in film & TV and cinema investment and cinema M&A management, it provides capital support to Sanpower's cultural and entertainment sector. Besides, Sanpower has been involved in the operations of renowned media outlets like China Newsweek and numerous new media platforms, as well as several cultural enterprises such as Zhongxin Kaiyue and Rehuo Chaotian.

This time, Sanpower joined hands with Ganglong Holdings to develop the domestic cinema investment market and integrate quality cinema resources to build a competitive theatre and cinema system. Under this agreement, the two sides will jointly invest in and acquire theatres and cinemas, invest and manage owned theatre resources in a unified manner. By integrating their resources, the two sides will employ respective business and brand advantages to achieve resources complementation and common development.

Ganglong Holdings has forged strategic alliances with tens of domestic and foreign top brands such as Auchan and China Film. It has rich experience in cinema investment and development, joint establishment of cinema investment funds and capital market connection, as well as rich business resources. It is willing to share its business resources with Sanpower, explore new development ideas with Sanpower, and seek further cooperation in the cultural & entertainment industry and commerce.