Co-founded by Mr. Raymond Chow, Mr. Leonard Ho Koon-cheung and Mr. Leung Fung in 1970, Golden Harvest Group was listed on the Hong Kong Stock Exchange in 1994 and is currently the most influential powerhouse in the Chinese-language film entertainment business. Its businesses range from film financing and distribution to exhibition and processing.
Film Financing and Distribution
Golden Harvest has shifted its focus to film financing from film production in recent years and has since financed and distributed approximately 40 movies. Film distribution is now one of Golden Harvest's core businesses. The Group plays a key role in the theatrical distribution of Chinese-language films in Hong Kong via its operating vehicle "Gala" and owns a film library with approximately 140 films for global distribution. Apart from Chinese-language films, Golden Harvest also actively acquires the distribution rights of quality independent films for the HK, Taiwan, PRC, Singapore and Malaysia regions via its brand "Panasia" and its joint ventures so as to consolidate its leading distribution position in Hong Kong and Southeast Asia.
Film Exhibition
Golden Harvest is now a leading cinema operator in the Asian region. As at 31 December 2006, we operate 48 multiplexes in Hong Kong and SE Asia countries consisting of a total of 350 screens.
In recent years, the Group has made a strategic move to extend its cinema network to mainland China and Taiwan. Given the gradual liberalization of the film distribution and exhibition markets in mainland China, the Group launched its first brand name flagship multiplex in Shenzhen at the Mixc mall in City Crossing. The first phase consisting of 7 screens was officially opened in January 2005 while its second phase with 4 to 5 more screens is expected to open in 2008. Setting a new milestone for modern multiplex design and management, it is the first multiplex in mainland China to pioneer technology such as advance ticket booking through internet and mobile phone messaging. The cinema has performed distinctively since its opening and had signal honour of being No. 1 in the whole mainland China in terms of box office takings in the summer of 2006. Currently it holds 44% of the total market share of Shenzhen. The Group will strengthen its presence in Shenzhen and plans to open two more multiplexes there in 2007.
In February 2005, Golden Harvest acquired the largest cinema chain in Taiwan ,Warner Village (now renamed as "Vieshow") which operates 7 multiplexes and 75 screens. Golden Harvest currently shares approximately 31% of the Taiwan market.
In Singapore, GV VivoCity, the new flagship of Golden Village Multiplex opened its doors in October 2006 at VivoCity, HarbourFront. This new, state-of-the-art 15-plex occupies a stunning 90,000 sq feet of space with 2,173 seats and is expected to entertain over a million patrons per year. With GV VivoCity, the Group currently operates 9 multiplexes and 73 screens and is expected to attain 50% of the total market share in Singapore.
In Hong Kong, Golden Harvest runs 5 multiplexes and 24 screens and in Malaysia, Golden Harvest has one remaining cinema circuits comprising 8 multiplexes and 63 screens. Golden Harvest sold the other circuit they owned in Malaysia in February 2007.
Prospects
Hong Kong will continue to be the base of the Group's operations, supported by our strong regional network. The Group will continue to develop film exhibition and distribution businesses in the Greater China market and strengthen its Pan-Asian non-Chinese language films. Management believes that there are more attractive potential investments in the Greater China market and the Group is redeploying its investments in the region in order to maximise our return in future.
updated 9th March, 2007
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