HONG KONG, July 9, 2014 /PRNewswire/ — SMI Corporation Limited ("SMI" or the "Company" and its subsidiaries, collectively the "Group", HKEx: 198), one of the largest cinema operator in China, is pleased to announce a business update of the Company today.
The group had continued to expand its movie theatre operation in the PRC and to further diversity the value added business of its business channels in 2014. For the 6 months ended 30 June 2014, the core operation index of SMI theatres has shown significant growth when compared to the corresponding period last year. Among which, income from box office and cinema admission has increased 30%; income from Xingmeihui has surged 500%.
Mr. Cheng Chi Chung, Chief Executive Officer of SMI, said. "The Group has been actively developing its new complementary business, which includes Xingmeihui. Xingmeihui focuses on in-theatre counter sales and online shopping platform, and aims at providing the customers with brand new shopping experience combining online shopping and store sales. Looking forward we will continue channel resources and turn existing movie theatre audiences into retail customers of Xingmeihui through the New Membership Scheme. We believe Xingmeihui will maintain steady growth in the next few years to become a new growth driver of the Group’s revenue."