SHANGHAI and NEW YORK, Sept. 11,
2018 /PRNewswire/ -- IMAX Corporation (NYSE: IMAX),
IMAX China Holding, Inc. (HKSE: 1970) and Wanying Cinema Line,
the subsidiary of China Resources Land, one of China's largest state-owned commercial
developers, today announced an agreement for 14 new
IMAX® theatres. The theatres will
feature IMAX with Laser, IMAX's new,
ground-breaking laser experience for commercial multiplexes, and
are expected to open between 2018 and 2021. This agreement brings
the total number of contracted IMAX theatres in Greater China to more
than 900.
The IMAX theatres will be installed in
new MIXCINE branded multiplexes within China Resources
Land's new luxury shopping centres, a majority of which will
be located in tier one and tier two cities. Chongqing and Taiyuan MIXCINE IMAX theaters
will be opened on September 15,
installed with the next generation IMAX with Laser system.
Additionally, the parties signed their first agreement for an
IMAX theatre earlier this year, which opened in March,
bringing the total IMAX commitment of Wanying Cinema
Line, the subsidiary of China Resources Land, to 15
theatres.
"We are pleased to build on this new partnership with China
Resources Land, China's most
influential integrated urban developer and operator, that will
leverage our premium brand and The IMAX
Experience® as the anchor attraction for its luxury
shopping complexes. We believe their commitment to IMAX with Laser
is a strong validation of our ability to deliver an immersive
experience that simply can't be matched by any other medium or
technology," said IMAX CEO Richard L.
Gelfond. "IMAX is now more entrenched than ever in the
fabric of China's cinema industry
as we continue to expand our network through forging partnerships
with the nation's leading developers, exhibitors and studios and by
presenting a growing number of Chinese blockbusters. These factors,
coupled with today's agreement, reinforce our confidence in the
China market and the growth
opportunities that lie ahead to bring consumers a premium
experience."
"Over the years, we've witnessed the success of IMAX to drive
foot traffic to multiplexes in many of our luxury malls across
China. When we launched our own
cinema business earlier this year, we immediately knew that IMAX
would serve as our flagship entertainment attraction at our new
cinema complexes as well as the luxury shopping centres where they
will be located. To date, we have been impressed by the performance
of our first IMAX theatre in Shenzhen," said Linkang Yu, Vice
President who is responsible for Commercial Real Estate, China
Resources Land Limited. "Our goal is to deliver
premium retail and entertainment experiences throughout
China. IMAX's ground-breaking
laser technology, premium brand and increasing slate of Chinese
blockbuster movies will help us to deliver on this promise."
The agreement was signed with Wanying Cinema Line (Shenzhen) Co. Ltd., a wholly-owned subsidiary
under China Resources Land responsible for the operation of all its
cinemas under its MixC cinema brand.
About Wanying Cinema Line and the
MIXCINE
Wanying Cinema Line (Shenzhen) was established in February, 2018.
It is wholly owned by China Resources Land, a leading commercial
real estate company. It specializes in cinema investment and other
businesses, and establishes the self-operated cinema brand the
"MIXCINE".
Relying on the good location conditions, operation level and
expansion pace of China Resources Land's Investment Property,
Wanying Cinema Line has set up two 'MIXCINE' product lines, which
match with the positioning of China Resources Land's Commercial
Property the 'MIXC' and the 'MIXC ONE.'
Wanying Cinema Line shoulders the heavy responsibility of
spreading and building a new era of people's cinemas; combing with
artistic principles to create a platform for local high-quality
film screening; forming an industry scale and establishing
professional influence; developing diversified businesses to
enhance profitability.
The MIXCINE is a domestic high-end film center invested,
constructed and operated by Wanying Cinema Line (Shenzhen) Co., Ltd. which is wholly-owned by
China Resources Land Limited. With the "Efficient Use of Optics and
Acoustics" as the core element of the building, and "All for the
film-watching service" as the main service principle, it will
create a high-end movie theater with excellent experience for film
fans.
About China Resources Land
China Resources
Land Limited (HK1109) is the urban construction and operation
subsidiary of China Resources Group engaging in real estate
business, as well as the most influential comprehensive urban
investment developer and operator in Mainland China. It became one
of the blue chips of Hong Kong
since March 8, 2010 when Hang Seng
Index included CR Land as a constituent stock. As of late
August 2013, the total asset of the
company is more than HKD 230 billion
with a net asset of HKD 89.5 billion
and land reserve of over 30 million square meters. Up till now CR
Land has expanded its business to over 50 cities in Mainland China
with over 110 ongoing projects.
Upholding the brand philosophy of "better quality, better
city," CR Land is committed to achieve the leading level in product
and service, exceed the expectation of clients and bring changes to
clients' life style. Adhering to the business mode of "residential
development + property investment + value-added service," CR Land
has formed eight product lines in residential development, namely,
MIXC high-end series, Urban high-end series, Suburb high-end
series, Urban quality pursuit series, Suburb quality pursuit
series, Urban upgrade series, Suburb upgrade series, Resort series.
In regard of property investment, it has developed the MIXC
complex, the Hi5 - the regional commercial center and 1234Space - a
place for chic lifestyle experience, which makes a change in urban
lifestyle while promotes urban economic development and improves
the image of the city. The MIXC complex has been developed to 22
cities in Mainland China and put into operation in Shenzhen, Hangzhou, Shenyang, Chengdu, Nanning and Zhengzhou. CR Land has also developed the Hi5
projects in 22 cities since the Hi5 opened in Beijing, Hefei and Yuyao. And the first 1234Space has
opened in Shenzhen since
2013.
About IMAX China
IMAX China is a subsidiary of IMAX
Corporation, and is incorporated under the laws of Cayman
Islands. IMAX China was established by IMAX Corporation
specifically to oversee the expansion of IMAX's business throughout
Greater China. IMAX China trades
on the Hong Kong Stock Exchange under the stock code "HK.1970."
About IMAX Corporation
IMAX, an innovator in
entertainment technology, combines proprietary software,
architecture and equipment to create experiences that take you
beyond the edge of your seat to a world you've never imagined. Top
filmmakers and studios are utilizing IMAX theaters to connect with
audiences in extraordinary ways, and, as such, IMAX's network is
among the most important and successful theatrical distribution
platforms for major event films around the globe.
IMAX is headquartered in New
York, Toronto and
Los Angeles, with additional
offices in London, Dublin, Tokyo, and Shanghai. As of June
30, 2018, there were 1,410 IMAX theater systems (1,314
commercial multiplexes, 12 commercial destinations, 84
institutional) operating in 79 countries. On Oct. 8, 2015, shares of IMAX China, a subsidiary
of IMAX Corp., began trading on the Hong Kong Stock Exchange under
the stock code "HK.1970."
IMAX®, IMAX® 3D, IMAX DMR®, Experience It In IMAX®, An IMAX 3D
Experience®, The IMAX Experience®, IMAX Is Believing® and IMAX
nXos® are trademarks of IMAX Corporation. More information about
the Company can be found at www.imax.com. You may also connect
with IMAX on Facebook (www.facebook.com/imax), Twitter
(www.twitter.com/imax) and YouTube
(www.youtube.com/imaxmovies).
This press release contains forward looking statements that
are based on IMAX management's assumptions and existing information
and involve certain risks and uncertainties which could cause
actual results to differ materially from future results expressed
or implied by such forward looking statements. These risks and
uncertainties are discussed in IMAX's most recent Annual Report on
Form 10-K and most recent Quarterly Reports on Form 10-Q.
For additional information please contact:
Business and
Entertainment Media: IMAX Corporation – New
York Amanda
Collins 212-821-0155 abcollins@imax.com
|
Investors: IMAX Corporation – New York Michael K. Mougias 212-821-0187 mmougias@imax.com
|
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SOURCE IMAX Corporation