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Chairman Sin Kwok Lam
Share Issued (share) 4,517M
Par Currency HKD
Par Value 0.1
Industry Movies & Entertainment
Corporate Profile Business Summary:
The Company is principally engaged in investment holding. The principal activities of the Group included film production and distribution, the provision of management services to artistes,
event coordination, operations of film studio and hotel, and provision of travel related products.

Performance for the year:
During the year under review, the Group reported a revenue of approximately HK$57.8 million, a increase of 44.4% as compared to the revenue in previous year for the continuing operations.

For the year ended 31 December 2016, the Group recorded a net loss of approximately HK$327.09 million as compared to net loss for the year ended 31 December 2015 of approximately HK$264.83 million.

Xiqiao National Arts Studio Project
Located in Foshan city, Guangdong province, the Group’s Xiqiao National Arts Studio Project (the “Project”) has a total developed land area of 444,000 square meters and is a unique studio which incorporates tourism and recreational facilities such as film shooting areas, theme parks, hotel and performing arts complexes.

Xiqiao National Arts Studio (the “Studio”) officially opened in October 2015. Following the grand opening, series of festival celebrations, mega events and concerts featuring popular singers were held in the Studio. During the year 2016, the Studio had held Lunar New Year Celebration, Taiwan Food Festival, 2016 Marathon event and 2016 Halloween event, etc. And the Lunar New Year Celebration and 2016 Marathon events also recorded approximately 26,000 and 9,000 attendances respectively.

In 2016 winter, the Studio cooperated with a well know American Company jointly held a PRC’s first world — class outdoor snow paradise event which included a South China’s first outdoor Skislideway with 150 meters long. It successfully attracted large numbers of tourists and arouse a heated discussion in the city.

In 2016, the Group entered a sales partnership agreement with a PRC company in relation to the sales of tickets of the Studio. Pursuant to the Agreement, the PRC Company will be appointed as an exclusive agent to sell the Studio ticket in the PRC, and undertook that the sales and distribution of the studio tickets will be at least 1 million per year. It will effectively stabilize the Group’s revenue. Other than the sales partnership agreement, the Group entered several selling agreements with travel agencies to promote the travel package of the Studio. And the wholly owned travel agency company namely “National Arts Travel Limited” has be established and commenced its business in the year 2016.

The Group believes that the events held and the agreements entered will effectively improve the brand awareness of the Studio and will push the Studio Project to the peak.

Film Shooting Base
The film shooting base is the core project of the Xiqiao National Arts Studio Project. It covers 374,000 square meters, including a lake of 120,000 square meters and numbers of indoor and outdoor studios which equipped with the most excellent and comprehensive ancillary facilities in order to provide the South China and foreign shooting crews the most realistic and delicate scenes.

By virtue of the extensive choices, supreme geographical location and multifunctional ancillary services, the shooting base has been heavily used by the production crews. During the year 2016, there were more than 60 production crews filmed in the shooting base and approximately 10 production crew reservations.

On 11 January 2016, the Group has entered into a rental agreement, taking the role of rental agent, with a well known company renting film shooting equipment. The partners provided the plentiful props, attires and high-tech shooting equipment including lots of ancient costumes of Ming and Qing dynasties, antique furniture, simulated ordnance and other performing props. It is believed that it will bring substantial gain to the Group as enormous synergistic effect will be created.

Following to the growth of the PRC film market and the production crews’ requirements for the scene have improved, the Group is developing a high-profile indoor studio to enrich the scenic choice. The high — profile indoor studio will expected to be completed in 2017 and will generate a favorable income.

Wedding Photography
The Group reached an agreement with a renowned domestic wedding photography chain group in the fourth quarter of 2013 to develop its new wedding photography business. Through which, the Group leased the Studio with an area of approximately 20 mu (13,333.33 square meters) for a term of 12 years and the wedding photography company invested RMB10 million for the construction of scenic spots in different styles such as European, Korean and Japanese styles and guarantee there will be at least 28,800 couples taking wedding photos in the scenic spots per year. The annual income of this arrangement will be no less than approximately RMB1.2 million starting from 2016.

In addition, the Group is negotiating with several jeweler, Chinese and western bakery, Chinese style wedding gown and wedding planning company in order to provide one-stop service for wedding couples. The Studio is expected to become a comprehensive wedding hot spot.、

A 5-star hotel namely “National Arts Resort Hotel” (the “Hotel”) next to the Studio has been officially commenced its operation in November 2015. The hotel provides 350 suites facilitated from deluxe suites to economic standard rooms. In addition, the hotel is equipped with a variety of recreational facilities such as SPA, Modern Swimming Pool and Chess Room. Apart from the recreation, the hotel also provides commercial services such as business centre, meeting rooms and lecture halls

With the development of the Hotel and the Studio becoming mature and its popularity having increased, the number of tourists continuously grow, the Group will introduced an additional facilities such as beauty services, barbecue facilities, and other recreational facilities. And for the catering, it will provide more dining options and maintain high quality of foods and services.

Film Production
Entertainment culture is the core value of the Group’s business. The Group is committed to produce and invest in movie and online TV programme to promote the culture and entertaining.

The movies invested by the Group, “Ip Man — the final fight” (葉問 — 終極一戰) was selected as the opening film of the “Hong Kong International Film Festival” in 2013, and was selected as the recommended film in the “20th Hong Kong Film Critics Society Award”. And “Golden Brother” (男人唔可以窮) also won the best small and medium cost film award in China Image Film Festival. These achievements are really encouraging.

During 2016, the Group invested a charity movie namely “Our Days” (我們的6E班) which is in the post-production stage and will be shown in cinema soon. The theme of “Our Days” is in line with the social current status, with educational significance. The Group believes that it will be obtained certain market occupancy among the film screening industry and will enhance the Group’s corporate image and brand awareness.

Apart from the above, the movie, Si Dang (死黨) and the online TV programmes (上山吧!兄弟) and (放開那個魔獸) invested by the Group will be shown in cinemas in the PRC and internet in the year 2017 respectively.

National Arts Films Production Limited (“NA Films”), an indirectly wholly-owned subsidiary of the Company, collaborated with its joint venture for the development of cinema business in a large shopping mall in a transportation hub area of Zhu Hai, Guangdong, the PRC.

NA Films held 60% equity interest in the joint venture. The cinema boasts eight screens and a total of more than 730 seats, and have commenced its operation since May 2014 which supports further comprehensive development of the Group’s entertainment and culture business.

Artiste Management
To enhance the popularity of the Group’s artistes Rose Chan, Brian Yuen, Rachel Chau, Leomon Yip else, the Group has arranged a variety of performance opportunities including the participation in the charity movie, Our Days (我們的6E班), an online TV programme (上山吧!兄弟), the drama and being the show host of the Lunar New Year Celebration and 2016 Marathon events.

Besides, the Group’s artistes will perform and participate in different shows and events. The Group will also identify suitable institutions for them to serve as brand representative and involve in advertising photography and drama.

With the huge market of domestic movies, the Group will continue to recruit artists with potential in the future to cope with the demands in the vast market and expand the artiste management segment, hoping that it will become one of the major income sources of the Group.

Market Trends
According to the statistics published by China National Tourism Administration, during the 2017 Lunar New Year holidays, the gross tourism revenue in Guangdong province was approximately RMB36,640 million which was the highest across the PRC and representing increase of 16.17% compared with that in 2016.

The gross tourism revenue in Guangdong Province in the PRC continuously increased during the five years period from 2012 (approximately RMB738,900 million) to 2016 (approximately RMB1,156,000 million). The rank of Guangdong Province in the PRC in terms of gross tourism revenue has maintained the first during this five-years period.

On 21 March 2013, Motion Picture Association of America published an annual report that China replace Japan being the world’s second largest film market after United States, and this ranking has so far maintained.

According to the film market trends in PRC, the story production has picked up after the decline. The story production in 2016 rose to more than that in 2012 which was at peak, being the highest production in the past ten years. And the total box office has also increased during this five years period from approximately 17,073 million to approximately 45,712 million.

Further Development
The Group believes that the upward trend will continue in both tourism industry and films industry. To cater the upward trend, the Group committed to the further development of the Xiqiao National Arts Studio Project.

According to Internet data, in 2016, more than 50 shooting crews were filmed in the Studio, which exceeded the record of about 15 shooting crews in the two same type of shooting base in the vicinity. The main reasons are (i) the scene is more in line with the needs of the shooting crew; (ii) more comprehensive ancillary facilities.

For these reasons, the Group will continuously develop the Project by (i) constructing high-profile indoor studio; (ii) cooperating with resourceful company in providing high-tech equipment, props, etc, and (iii) developing new hotel project. The Group expects that there will be more than 80 shooting crews to film in the Studio in 2017. Meanwhile, the Group will produce, promote and deliver new film products, implementing an “Internet plus” strategy so as to utilize more of the internet and information technology in the productions.

For tourism, the Project is in the harvest period, variety of facilities have been developed. In addition to the large-scale events which will be held and the sales partnership agreement signed with a PRC company in relation to the sales of tickets of the Studio, the Group believes that large numbers of visitors will be attracted and a substantial revenue will be brought to the Group in 2017.
Information from the financial statements of listed companies
Last Update: 2018/01/12
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