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| "3D Sex and Zen: Extreme Ecstasy" Set Box Office Record |
HONG KONG, Sept 20, 2011 - (ACN Newswire) - China 3D Digital Entertainment Limited ("China 3D Digital" or the "Group", SEHK: 8078), today announced total revenue of approximately HK$54 million for the year ended 30 June 2011 (the "Period"). A loss of approximately HK$36.1 million was recorded, significantly improved from HK$50.6 million of same period last year. The Board does not recommend the payment of a final dividend for the year ended 30 June 2011.
Artist Management Business
During the Period, artiste management contributed revenue of approximately HK$3 million and recorded a profit of approximately HK$1.3 million. Decrease in revenue and profit in this business segment is mainly attributable to the reorganization of the Group to focus on 3D movie production by disposing a number of subsidiaries engaged in artist management.
Film and Television Programme Production, Distribution and Licensing Business
During the Period, film and television programme production, distribution and licensing contributed revenue of approximately HK$50.9 million and recorded a loss of approximately HK$18.9 million. It is because the movie promotion expense incurred was more than expected. Together with impairment in film rights held by the companies disposed during the Period.
Operation Review
China 3D Digital created the talk of the town with the release of what was dubbed "the world's first 3D erotic movie "3D Sex & Zen: Extreme Ecstasy" in April 2011. On the first day of release, the box office scored a record-breaking HK$2.73 million in Hong Kong's movie history, exceeding HK$2.62 million of 3D movie "Avatar" and HK$2.56 million of erotic film "Lust, Caution". The movie won the hearts of both Hong Kong and the Mainland audiences. It had been on screen for 118 days, closing with box office sales of 41.08 million. Up till now, it is the best-selling Hong Kong produced movie in 2011.
The film has achieved unprecedented success, which reflected the market's appreciation for supreme quality 3D movies. The success was also indicative of China 3D Digital's innovative marketing strategy, as well as cost efficient execution which earned the Group the HKMA/TVB Awards for Marketing Excellence 2011. Setting industry benchmark, the Group launched Hong Kong's first female only screenings in response to the privacy needs of the female audience; and arranged dedicated screens for organized packaged tours from the Mainland to watch the movie.
Outlook
Looking ahead, the Group will continue to focus on the fast growing movie market in China, and invest in the production of high quality 3D commercial films. "The Group is very grateful to all audiences, especially the mainland audiences who travelled long way to Hong Kong, as well as the media which has been covering the film. Meanwhile, we are humbled by the fact that "3D Sex and Zen: Extreme Ecstasy" earns the title as the world's first 3D erotic film, a milestone not only for us but for the local industry as a whole. The box office result is encouraging, so we decided to ride on this success and produce two or three 3D films next year. The technology deployed by our production team rivals that of Hollywood, giving us confidence in future prospects, and optimistic long term returns to our shareholders. "commented Mr. Shiu Junior Stephen, Chairman of China 3D Digital.
Contact:
Fortune Media Advisory Limited
Yohji Yuen
+852 3103 2036 / 6223 0100
yohjiyuen@fortunemedia.com.hk
Joey Lam
+852 3103 2038/ 9313 9196
joeylam@fortunemedia.com.hk
Topic: Press release summary
Source: China 3D Digital
Sectors: Daily Finance, IT Individual, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
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