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| Thursday, 30 September 2010, 13:57 HKT/SGT | |
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Source: China Trends | |
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HONG KONG, Sept 30, 2010 - (ACN Newswire) - China Trends Holdings Limited ("China Trends", Stock Code: 8171.HK) is delighted to announce that, the Company passed the major transaction on the acquisition of copyrights in a film library. The completion marks a milestone for the company to take an important step on the children electronic consuming market, to further broaden its business scope and basis.
The board is pleased to announce that the ordinary resolution as set out in the EGM to approve the major transaction on the acquisition of copyrights in a film library was duly passed by the shareholders by way of poll with 100% of the votes cast at the EGM were in favour of the resolution. After completion, China Trends, the company engages in the development of digital product solutions, can expand the series of products and services to children market without further input of a high proportion of resources in production and marketing by applying the copyrights and the trademark to consumer electronic products, which broadens the newly developed children's market in the mainland China to provide a higher return.
The copyrights of a film library which contains five series (a total of 320 episodes), and 16 education series of an animation (Wiwione - Detective Winkey Cat) and music songs. The first series, the second series, the third series, the fourth series and the fifth series of the Animation has 69 episodes, 60 episodes, 72 episodes, 60 episodes and 60 episodes respectively. Each episode for the first and second series is approximately 13 minutes and each episode for the third, fourth and fifth series is approximately 14 minutes. For the education series, it has 16 episodes and each episode is approximately 60 minutes. For the music songs, it includes the copyright of 16 albums of children's songs of which each album contains 20 songs under Wiwione.
The trademarks in relation to the animation including the characters of the Animation Wiwione, Aiaitwo and Winkeycat and the name of the Animation would be transferred to the Company at nil consideration after completion.
As the former management of the copyrights holder did not achieve the basic number of broadcasting hours as required for the promotion of programmes under the copyrights in each television station in the PRC in order to promote the popularity of the animation, the company will change the marketing strategy into free broadcasting approach from the programmes of the copyrights in exchange for the usage of air time promotion and advertisement in the television stations in the PRC, and will apply for the subsidies entitlement under approved government policies in the PRC upon completion.
Contact:
Carmen Lee
Investor Relationship Department
China Trends Holdings Limited
Email: carmen.lee@8171.com.hk
Tel: +852 2111 9988
Direct: +852 2155 6275
Mobile: +852 6301 6611
Fax: +852 2111 9989
Topic: Press release summary
Source: China Trends
Sectors: Consumer Electronics
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