Huayi Tencent Entertainment to Change Name to Hony Media Group
Huayi Tencent Entertainment, 6/07/24
Chinese entertainment, media, and healthcare services firm Huayi Tencent Entertainment (0419.HK) announced today that it plans to change the company's name. The board of directors proposes to change the English name of the company from ''Huayi Tencent Entertainment Company Limited'' to ''Hony Media Group'' and to change the Chinese name of the company from ''华谊腾讯娱乐有限公司'' to ''弘毅文化集团''.
Reasons for the Change of the Company Name
The Group is currently principally engaged in (i) entertainment and media business; (ii) digitized operation services in healthcare industry (i.e. the Echartnow operation); and (iii) smart healthcare services platform (i.e. the Meerkat Health operation).
Following the completion of the company's issue of convertible bonds to the affiliates of Hony Capital in March 2024 and the appointment of ZHAO Huan (John Zhao) (the Chairman of Hony Capital) and CHENG Wu as the Chairman of the Board and the Chief Executive Officer of the company respectively, the Group will focus its strategic development in international culture, media and entertainment businesses, with a vision of building a world-leading Global Content Creation Platform.
ZHAO Huan, the Chairman of the Board of the company, states that the company under the name Hony Media Group, being the strategic collaboration platform for Hony Capital in the cultural industry, will receive continual support and anticipates to continuously lay out and cultivate its new strategic focus and achieve long-term development.
CHENG Wu, the Chief Executive Officer of the company, said that on the basis of continuing the operation of the Group's existing businesses, the Group will integrate resources from Hony Capital and multi-party cooperation to explore and develop new increments in the global culture, media and entertainment market, and strive to build a global platform for the creation of high-quality content, and these will serve as the core development and strategic growth engine of the Group.
The Board considers that the proposed change of the name of the company will better reflect the latest strategies and businesses of the Group. Therefore, the Board is of the opinion that the proposed change of the company name will benefit the future business development of the Group and is in the best interests of the company and the Shareholders as a whole.
Eitor's Note: To read the company's full press release, please click here.
Keywords: Huayi Tencent Entertainment Hony Media branding film Internet Tencent Hony Capital 0419.HK Cheng Wu television arts & culture TV content production content production 0700.HK
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