Beijing Hualu Baina Film & TV Inc. announced yesterday （4th May）it plans to set up a VR business unit. Over the next 3 years it will invest 1 billion yuan in virtual reality and augmented reality.
Beijing Hualu Baina Film &TV Inc. is a public company which primarily engages in the investment, production and distribution of TV dramas, as well as derivative business. The Company's main business is in TV drama and film and is also involved in variety shows.
In June 2015, Hualu Baina announced it would partner with one of its subsidiaries to invest 500 million yuan setting up a sports firm.
After setting up the VR unit, the company said it hopes to converge advanced technology with its quality content - namely film & TV, variety shows and sports resources - making it more attractive to advertisers.
Source : Beijing Hualu Baina Film & TV Inc.
Proofread by Sean O Diobhilin