The agreement comes on the back of the group’s agreement with iQIYI Inc. to co-produce a web drama series, “Strange Tales of Tang Dynasty 3: Chang'an”, as announced on Oct 22.
The group says that the joint production and distribution with Youku Information Technology (Beijing) is another “testament to the strong partnerships and strong network of business relationships and partnerships that the group has established with key industry players in the media and entertainment industry”.
The agreement is expected to “contribute positively” to the group’s revenue performance.
Further announcements are expected to follow subject to material developments.
See also: Sembcorp signs JV agreement with BPCL for green hydrogen transition and renewable energy in India
Shares in GHY Culture and Media closed flat at 11.4 cents on Oct 24.
