Litian Pictures (09958) announced that on November 13, 2024, the company and Shanxi Ningle Pharmaceutical Distribution...
According to Zhitong Finance App, Litian Pictures (09958) announced that on November 13, 2024, the company signed a Memorandum of Understanding (MOU) with Shanxi Ningle Pharmaceutical Logistics Co., Ltd. (Shanxi Ningle). According to the memorandum of understanding, Shanxi Ningle plans to establish a joint venture with the company and/or its subsidiaries, and Shanxi Ningle will provide the joint venture with land resources and buildings for the group to use as a warehouse, support and film base for the production of TV series and short dramas. Shanxi Ningle also plans to actively discuss other industrial cooperation with the Group. The detailed terms of cooperation will be agreed upon when a formal agreement is concluded.
According to what the director learned after making all reasonable inquiries, Ningle, Shanxi was founded in 2019. Its registered address and warehouse are located in Zhaoqu Village, Xincheng Town, Xiangfen County, Linfen City, Shanxi Province, covering an area of 0.072 million square meters. It is a professional pharmaceutical logistics management company.
The director believes that Shanxi is a filming location for many movies, TV, and variety shows, and has a deep culture and beautiful natural scenery. There are many film and television bases in Shanxi. In the past, many famous TV series were filmed in Shanxi. The directors believe that the memorandum of understanding will enable the Group to obtain land resources through Ningle, Shanxi, to facilitate future film and television production of the Group in Shanxi and/or neighboring regions.
The directors believe that the cooperation proposed under the Memorandum of Understanding is established by the Group on general commercial terms in the daily and ordinary course of business, and that the terms of the Memorandum of Understanding are fair and reasonable, and conform to the overall interests of the company and shareholders.