China's movie audience is increasingly enjoying the "ultimate viewing experience"

Wanda and IMAX Become Close Strategic Partners

Chairman Wang Jianlin joined everyone in kick-starting the strategic partnership ceremony

 Li Yaohan, Chairman of Wanda Cinemas, making a speech

Mr. Richard L. Gelfond, Chief Executive Officer of IMAX, making a speech

Mr. Wang Jianlin, Standing Committee of the National Committee of the Political Consultative Conference, Vice-Chairman of the All-China Federation of Industry and Commerce, and Chairman of Wanda Group, making a speech

Mao Yue, Deputy Secretary, the Film Administration of the State Administration of Radio, Film and Television, making a speech

The signing ceremony concluded

On 24 March, with rapid convergence between the Wanda Cinemas and IMAX brands, Wanda Cinemas and IMAX announced that the two companies have entered into a "close strategic partnership". From now until 2014, Wanda Cinemas and IMAX will jointly build at least 75 IMAX theatres. By then, Wanda Cinemas will own over 100 IMAX theatres, and will become the number one IMAX operator in Asia, and number two worldwide. Wanda Cinemas has become the IMAX's sole, close strategic partner in China.

The signing ceremony took place at Sofitel Wanda Beijing. Mao Yue, Deputy Secretary, the Film Administration of the State Administration of Radio, Film and Television, Wang Jianlin, Chairman of Wanda Group, and Richard L. Gelfond, CEO of IMAX, attended the signing ceremony and delivered speeches on the occasion.

Chairman Wang Jianlin mentioned in his speech, "The 12th Five-Year Plan states that cultural industries will become a pillar industry, which shows that the country highly emphasizes the importance of such industries. Therefore, we must grasp this opportunity to drive the upgrade of China's movie market, promote the development of China's movie business, and foster the great development and great prosperity of China's movie industry. Chairman Wang Jianlin also elaborated on the meaning of this strategic mutual partnership through the following three areas:

1. The partnership between Wanda Cinemas and IMAX will provide more opportunities to the Chinese public to enjoy high-quality, "ultimate viewing experience".

2. Not only will the partnership between Wanda Cinemas and IMAX foster the development of Wanda Cinemas, it will also drive the accelerated development of the final consumption market for movies in China.

3. The partnership between Wanda Cinemas and IMAX will ensure that the IMAX technologies will be utilized fully, enhance the competitiveness of Wanda Cinemas, and increase Wanda Cinemas' market share. In future, Wanda Cinemas will become the operator with the highest number of IMAX theatres and generating the greatest benefits globally.

IMAX theatres possess crystal clear screen quality, maximized visual view, and perfect sound effects. IMAX is known as the "ultimate viewing experience", representing the highest level in current movie screening technologies and the future development directions. In recent years, with the screening of numerous IMAX movies, the IMAX viewing experience has spread rapidly, and becomes very popular among viewers, thus becoming a key factor in the competitiveness of cinemas.

Wanda Cinemas is ranking number one in China's box office receipts. As of the end of 2010, Wanda Cinemas already possesses over 72 theatres, over 600 screens, constituting close to 15% of the share of China's box office. Wanda Cinemas is the first cinema in China to bring in IMAX theatres on a large scale, and possesses the highest number of IMAX theatres.

IMAX theatres will be configured at all Wanda Cinemas at the 15 Wanda Squares opening in 2011. IMAX theatres will also be added to the other 30 original Wanda Cinemas within the year. By the end of 2011, Wanda Cinemas will have established at least 50 IMAX theatres, which is over two times the national total ten years ago.

By establishing IMAX theatres on a large scale, Wanda Cinemas will effectively drive the upgrade of China's movie market, making it one of the world's largest IMAX movie consumption markets. This will result in more local movies choosing to produce the IMAX version, creating a virtuous cycle between production and screening, driving China's movie business to become one of the top in the world, and further promoting the great development and great prosperity of China's movie industry, making contributions in adjusting the economic structure and promoting cultural consumption.