Qin Jia Yuan Expects over RMB70 Million Media Value Increase Next Year from Advertising and TV Home Shopping Platform on Hefei TV Channel

Qin Jia Yuan Media Services Company Limited
2009-09-24 16:54 526

HONG KONG, Sept. 24 /PRNewswire-Asia/ -- Qin Jia Yuan Media Services Company Limited (Stock code: 2366, hereinafter referred to as the "Group" or "Qin Jia Yuan") announced the formation of a partnership with Anhui Television Arts Center (hereinafter referred to as the "Partnership"), which marked the commencement of its advertising and television home shopping business in Hefei of Anhui Province.

As the provincial capital, Hefei is the political, economic and cultural center of Anhui Province. In 2008, the GDP of the city amounted to RMB166,484 million, representing a 16.5% increase from previous year. The progress of the digital television conversion in Hefei is also among the top in the country. Hefei's network has basically completed the overall conversion of the analog system to the digital system in 2009, which now covers 600,000 digital television households in Hefei.

Dr. Leung Fung-yee, Anita, CEO of Qin Jia Yuan, said, "Anhui which is located in the most important Pan-Yangtze River Delta Economic Zone, is a key province in Eastern China. The Partnership represents a breakthrough which enables our media platform network and media operation to penetrate into Eastern China and also lay down a solid foundation for further development of our media opportunities in Eastern China in the future."

According to the latest statistics, as at the end of July 2009, the number of cable digital television households in the PRC has reached 55.39 million and the degree of cable digital television conversion is 33.98%. Given the target of "completion of digital conversion for major areas in the PRC by the end of 2012" proposed by the State Administration of Radio, Film and Television of the PRC (SARFT), China's digital television is expected to enter into a rapid development period in the next two to three years.

David Liu, Chairman of Qin Jia Yuan's Strategic Committee, explained, "The Partnership is another major partnership with advertising and home shopping channels following Qin Jia Yuan's cooperation with Yunnan TV Channel and Tianjin TV Channel, and is also an important step for Qin Jia Yuan's development of TV advertising and home shopping platform in Eastern China. There is no doubt that the digital television market in China offers enormous room for development and Qin Jia Yuan plans to tactically occupy the key areas before the market matures and establish positions for gradual expansion of the regional networks in the future."

Dr Leung also revealed that in addition to its current TV advertising operations, Qin Jia Yuan will continue to develop its TV home shopping business. It is expected that these businesses will bring in an additional advertising value of RMB72 million for the Group in 2010.

For enquiries, please contact:

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Canny Liu

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Katherine Chan

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Source: Qin Jia Yuan Media Services Company Limited