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Shanghai—Sep 26, 2017
Dadi Cinema Enters IMAX Business with Five-Theatre Agreement in China
IMAX Corporation (NYSE:IMAX), IMAX China Holding Inc. (HKSE: 1970) and Dadi Cinema Group, China’s second-largest exhibitor, today announced a sales agreement for five IMAX® theatres to be added to new multiplexes in First-, Second- and Third-Tier cities in the People’s Republic of China.
In January, Dadi Cinema Group acquired the mainland cinemas of Chinese exhibitor Orange Sky Golden Harvest Cinemas, an IMAX partner with a total of five IMAX theatres in China. Inclusive of the acquisition, today’s agreement brings Dadi Cinema’s IMAX footprint to 10 theatres, with the five Orange Sky Golden Harvest IMAX sites currently in operation.
“I’m delighted to welcome Dadi Cinema Group as our newest exhibitor in China. As the second-largest exhibitor in the country, this is an important and strategic partnership,” said Richard L. Gelfond, IMAX CEO. “Today’s agreement demonstrates that our differentiated cinema experience and powerful brand continues to be a competitive advantage for the nation’s exhibition giants.”
“Dadi Cinema has been committed to providing a high-quality experience for Chinese audiences ever since its establishment, and it has been upgrading, making breakthroughs and innovations over the years," said Yu Xin, CEO of Dadi Cinemas Group. “We are honored to partner with IMAX, the world's leading entertainment technology company, and through our partnership, we look forward to offering more Chinese moviegoers the premium cinematic experience”.
About IMAX Corporation:
IMAX, an innovator in entertainment technology, combines proprietary software, architecture and equipment to create experiences that take you beyond the edge of your seat to a world you've never imagined. Top filmmakers and studios are utilizing IMAX theatres to connect with audiences in extraordinary ways, and, as such, IMAX's network is among the most important and successful theatrical distribution platforms for major event films around the globe.
IMAX is headquartered in New York, Toronto and Los Angeles, with offices in London, Tokyo, Shanghai and Beijing. As of Dec. 31, 2016, there were 1,215 IMAX theatres (1,107 commercial multiplexes, 16 commercial destinations and 92 institutions) in 75 countries. On Oct. 8, 2015, shares of IMAX China, a subsidiary of IMAX Corp., began trading on the Hong Kong Stock Exchange under the stock code "HK.1970."
IMAX Corporation Directory page
About Dadi Digital Cinema Development Ltd:
Dadi Digital Cinema Development Ltd is a subsidiary of Dadi Culture & Media Group, which is composed of a corporate group of Media and Technology companies. The group’s businesses focus on motion pictures releases, the digital cinema construction and the development of new media. In 2008 Dadi Cinema invested in more than 100 movie theatres, 300 screens and 100,000 seats throughout Guangdong, Zhejiang, Shandong, Jiangsu, Beijing, Shanghai and Anhui provinces.
Dadi Digital Cinema Development Ltd Directory page
About IMAX China:
IMAX China (HKSE: 1970) is a leading cinematic technology provider, the exclusive licensee of the IMAX brand and technology and IMAX China is a subsidiary of IMAX Corporation, and is incorporated under the laws of Cayman Islands. IMAX China was established by IMAX Corporation specifically to oversee the expansion of IMAX's business throughout Greater China. IMAX China trades on the Hong Kong Stock Exchange under the stock code “HK.1970.”
IMAX China Directory page
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