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MarketScreener Homepage  >  Equities  >  SHENZHEN STOCK EXCHANGE  >  Perfect World Co., Ltd.    002624   CNE1000018W6

PERFECT WORLD CO., LTD.

(002624)
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China's Perfect World to fund Universal movies in $250 million deal

02/17/2016 | 05:30am EST

SHANGHAI (Reuters) - Chinese film company Perfect World Pictures Co Ltd (>> Perfect World Pictures Co Ltd) will invest $250 million into a slate of Universal Pictures movies, extending the tie-ups between China and Hollywood, as the world's second largest economy sees its box office soar.

SHANGHAI (Reuters) - Chinese film company Perfect World Pictures Co Ltd (>> Perfect World Pictures Co Ltd) will invest $250 million into a slate of Universal Pictures movies, extending the tie-ups between China and Hollywood, as the world's second largest economy sees its box office soar.

The Chinese firm will help fund at least 50 Universal Pictures films over a five-year period through its Perfect Universe Investment Inc investment unit, the company said in a regulatory filing on Wednesday.

Universal Pictures, owned by Comcast Corp (>> Comcast Corporation), is the studio behind blockbusters such as "Jurassic World" and "Fast and Furious", the latest installment which is one of China's biggest-ever grossing films.

Perfect World said the investment gives them a "direct link" into one of the biggest Hollywood studios, and would help them expand.

The Chinese firm added it would receive a proportion of global ticket sales, television and merchandising revenues for the films it funded.

China's box office takings are catching up fast with the United States; ticket sales are set to touch $8.9 billion in 2019 from about $5 billion last year, according to PwC.

However, global studios often have a tough time navigating censors and getting around a strict quota system for imported films.

Hollywood has been pushing hard in China: Warner Brothers announced a joint venture with China Media Capital in September, while Paramount Pictures, DreamWorks Animation SKG Inc (>> Dreamworks Animation Skg Inc), Lions Gate Entertainment Corp (>> Lions Gate Entertainment Corp. (USA)) and Walt Disney Co (>> Walt Disney Co) have all joined with local partners.

In November, Chinese film distributor Bona Film Group Ltd (>> Bona Film Group Ltd (ADR)) said it would invest $235 million into a slate of Twentieth Century Fox movies and help bring Hollywood productions to the Chinese market.

(Reporting by Adam Jourdan; Editing by Sherry Jacob-Phillips)


© Reuters 2016
Stocks mentioned in the article
ChangeLast1st jan.
BOX, INC. 1.14% 17.76 Delayed Quote.-2.71%
COMCAST CORPORATION 2.29% 50.09 Delayed Quote.-4.41%
PERFECT WORLD CO., LTD. -4.49% 26.16 End-of-day quote.-11.32%
THE WALT DISNEY COMPANY -1.36% 169.56 Delayed Quote.-6.41%
UNITED PARCEL SERVICE, INC. -0.20% 161.43 Delayed Quote.-4.14%
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Financials
Sales 2020 10 553 M 1 633 M 1 633 M
Net income 2020 2 406 M 372 M 372 M
Net cash 2020 3 635 M 562 M 562 M
P/E ratio 2020 20,9x
Yield 2020 1,02%
Capitalization 52 634 M 8 143 M 8 143 M
EV / Sales 2020 4,64x
EV / Sales 2021 3,70x
Nbr of Employees 4 842
Free-Float 55,3%
Chart PERFECT WORLD CO., LTD.
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Technical analysis trends PERFECT WORLD CO., LTD.
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 17
Average target price 39,76 CNY
Last Close Price 26,18 CNY
Spread / Highest target 88,4%
Spread / Average Target 51,9%
Spread / Lowest Target 27,3%
EPS Revisions
Managers and Directors
NameTitle
Jie Lian Co-Chief Executive Officer
Hong Xiao Co-Chief Executive Officer & Director
Yu Feng Chi Chairman
Xie Xian Wen Chairman-Supervisory Board
Ying Xue Zeng Chief Financial Officer & Deputy General Manager
Sector and Competitors
1st jan.Capitalization (M$)
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MADISON SQUARE GARDEN SPORTS CORP.-6.07%4 170
ALIBABA PICTURES GROUP LIMITED7.29%3 565
CHINA FILM CO.,LTD.-4.90%3 414