RealD and HNA Group Agree to Install 3D Technology on 500 Cinema Screens Across China
Congratulations HNA Group and RealD! China is indeed ramping up with 3D!!
BEIJING & LOS ANGELES, May 31, 2012 (BUSINESS WIRE) -- RealD Inc., a leading global licensor of 3D technologies, and leading diversified services and integrated operations company, HNA Group, announced today an agreement to install RealD 3D technology on up to 500 cinema screens across HNA's newly formed cinema circuit, HNA Vigor Film Investment. Installations of RealD 3D technology have already begun.
"Going to a 3D movie has become a very popular form of entertainment in China. To cope with the increasing demand, Vigor plans to install RealD 3D on 500 screens in the next five years," said Guo Wei Chen, General Manager of HNA Group. "Brightness is an important factor in ensuring a good cinema viewing experience and RealD delivers crisp, life-like 3D images with its cutting edge technology."
"HNA's entry into the cinema market is an exciting development for China and one RealD is honored to be a part of," said Edman Chan, RealD's General Manager of Greater China, Southeast Asia and Korea for Cinema. "Together, we will create the lifelike and immersive visual experience for the viewing audience that has become synonymous with RealD 3D."
RealD 3D is currently available on approximately 650 cinema screens in China with future commitments for approximately 1,250 additional installations for a total of approximately 1,900 screens in the territory.
Globally, RealD is the world's most widely used 3D cinema technology with approximately 20,200 screens equipped with RealD 3D (as of March 23, 2012) by approximately 900 exhibitors in 68 countries around the world.
About RealD Inc.
RealD is a leading global licensor of 3D technologies. RealD's extensive intellectual property portfolio is used in applications that enable a premium 3D viewing experience in the theater, the home and elsewhere. RealD licenses its RealD Cinema Systems to motion picture exhibitors that show 3D motion pictures and alternative 3D content. RealD also provides its RealD Display, active and passive eyewear, and RealD Format technologies to consumer electronics manufacturers and content producers and distributors to enable the delivery and viewing of 3D content. RealD's cutting-edge 3D technologies have been used for applications such as piloting the Mars Rover.
RealD was founded in 2003 and has offices in Beverly Hills, California; Boulder, Colorado; London, United Kingdom; Shanghai, China; Hong Kong; and Tokyo, Japan. For more information, please visit our website at www.reald.com .
About HNA Vigor Film Investment (Beijing) Co., Ltd.,
HNA Vigor Film Investment (Beijing) Co., Ltd., situated beside the well-known Beijing 798 Art Zone, as a key subsidiary of HNA Xinahua Culture Holding Group Co.,Ltd., owned by HNA Group (one of China's Top 500 enterprises), exclusively enjoys the unique artistic and cultural atmosphere and possesses an innovative business philosophy and strong business developing capability. Being an excellent integrated producer focusing on content creation, creative design and in-flight media, Vigor is determined to be, through its business of film & TV investment and cinema building, the best integrator in China's film & TV industry chain and the leader in developing culture, relying on HNA Group's superiority over domestic aviation, airports, hotels, clubs, tourism, financial and securities, real estates and freight. By adhering to the innovation of pattern and technology, and the combination of industry and financing, Vigor is dedicated to achieving HNA Group's culture ideal and spiritual pursuit of being a world-class enterprise and world-class brand.
Cautionary note on forward-looking statements
This press release includes forward-looking information and statements, including but not limited to: statements concerning the anticipated rollout of RealD 3D technology across the HNA Group circuit and the growth of the 3D cinema industry in China. These statements are based on RealD's current expectations and beliefs, as well as a number of assumptions concerning future events. Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside RealD's control that could cause actual results to differ materially from the results discussed in the forward-looking statements. RealD's annual and quarterly reports include a more detailed discussion of the risks and uncertainties that may cause that could cause actual results to differ materially from the results discussed in the forward-looking statements.
RealD undertakes no obligation to update publicly the information contained in this press release, or any forward-looking statements, to reflect new information, events or circumstances after the date they were made, or to reflect the occurrence of unanticipated events.
