Shanghai Film completes acquisition of subsidiary minority stakes

Shanghai Film Corporation has completed its acquisition of minority interests in Shangyingyuan (Shanghai) Cultural Technology Development Co., Ltd. The transaction, initially approved on November 22, 2024, involved acquiring 14% from Shanghai Film (Group) Co., Ltd. and 5% from Shanghai Animation Film Studio Co., Ltd. for a total of 48,790,000 yuan and 17,425,000 yuan respectively.

The valuation, based on an assessment as of December 31, 2024, determined Shangyingyuan's total shareholder equity at 348,500,000 yuan. For 2024, Shangyingyuan reported operating revenue of 93,865,200 yuan and a net profit of 27,502,000 yuan.

Following the completion of the acquisition and associated transfer procedures, Shanghai Film Corporation now holds 70% of Shangyingyuan, with Shanghai Animation Film Studio Co., Ltd. retaining 30%. The company is proceeding with the necessary industrial and commercial change registration.