Bingo Group HK – 1st turning success factor – 除魔传奇

Consider good development of Bingo Group.  We continue our speculative target for Bingo.HK.  After share consolidation from 2 to 1.  Temp new stock code 8395.  Trading at HKD 0.150

“ChinaVision Media (01060) said it entered into an agreement with Stephen Chow and Bingo Movie Development Limited, a wholly-owned subsidiary of Bingo Group (08220) regarding certain investments in a motion picture currently entitled “Journey to the West”. ChinaVision will acquire 50% of the 60% of the entire equity ownership of the motion picture for Rmb38 million. Following the investment, ChinaVision will acquire 30% equity share of the rights to produce, market and distribute the said motion picture on a
worldwide basis. ChinaVision also entered into a motion pictures development co-operation agreement with Stephen Chow conferring an option on ChinaVision to invest in the production of 5 motion pictures in which Chow would play a significant role as filmmaker, producer, director, script writer, protagonist or other leading role within seven years from the date of the agreement.”

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