Recently, Far East Horizon Limited (“Far East Horizon”) has formally signed a strategic cooperation framework agreement with China Film Co., Ltd. ("China Film") and WANDA FILM HOLDING CO., LTD. ("WANDA CINEMAS"). The three parties will give full play to their respective resource advantages to jointly promote the sustainable recovery and healthy development of China's film industry.

 Impacted by the COVID-19 pandemic, the global film industry has suffered heavy losses. Compared with other countries’ cinemas which have not yet been fully recovered, the Chinese film market has been gradually resumed and recovered rapidly after six months of suspension. In 2020, the total box office has exceed 20 billion yuan, and for the first time, it has surpassed North America to become the place with the largest box office in the world. At the beginning of 2021, China's film industry has witnessed the hottest New Year's Day show, with a total box office of nearly 1.3 billion yuan in three days, a record high.

At the time of the overall revival of the industry, Far East Horizon, together with China Film and WANDA CINEMAS, expressed strong confidence in China's film industry in the long term, and blew the horn of continuous and deeply developing the industry to make its improvements. According to the agreement, the three parties will carry out all-round cooperation by means of "finance + industry": in terms of financial services, through financial leasing, supply chain finance and other means, they will make powerful cooperation in the fields of cinema construction, equipment procurement, investment and M&A, jointly accelerate the layout of cinema terminals, the application of high-end projection equipment CINITY, and increase support for relevant companies. In terms of industry collaboration, they will integrate advantageous resources in film ticketing, publicity and distribution, entertainment marketing and content production, and actively expand the upstream and downstream industry chains.
 

This strategic cooperation will be implemented in detail by parts of Far East Horizon-Far Eastern Leasing Co.,ltd and Sky City (Shanghai) Industrial Co., Ltd (“Sky City”), part of China Film-China Film Huaxia film and television equipment financial leasing (Xiamen) Co., Ltd and WANDA CINEMAS . Sky City is the industrial platform of Far East Horizon in the big cultural and entertainment industry, focusing on film and television, cultural and entertainment and other fields to carry out all-round industrial operation, investment and other businesses.