HONG KONG, July 5, 2017 /PRNewswire/ -- Digital Domain Holdings Limited (the "Company" or "Digital Domain", stock code: 547), one of the world's largest and most innovative providers of visual effects and immersive experiences, today held its 2017 strategy conference in Hong Kong. During the event, the Company announced new industry leaders joining its ranks, and shared Digital Domain's global business updates, particularly its Greater China development strategies. Digital Domain also showcased its latest capabilities on visual effects, virtual reality (VR) and applications of virtual human Teresa Teng. At the conference, Digital Avatar, a technology researched and developed by Digital Domain, was unveiled to the world.
The newly appointed Board members of Digital Domain present at the strategy conference including Mr. Pu Jian and Dr. Alan Song, both Non-executive Directors of the Company. Mr. Pu is the Executive Director, Vice President and, member of the Executive Committee of CITIC Limited; Dr. Alan Song is the Managing Partner of SB China Venture Capital. Mr. John Lagerling, former Vice President of Business Development for Mobile and Product Partnerships, Facebook, Inc., an advocate of VR platform development, is an Independent Non-executive Director of Digital Domain, and Mr. Wei Ming, will be taking the role of Executive Director, Vice Chairman of the Board and CEO of Greater China of Digital Domain.
Mr. Peter Chou, Chairman of the Board of Digital Domain Holdings Limited, said, "Digital Domain has brought about another big bang of technology with our innovation focus set on VR, developing a business model of "technology + entertainment". We have led the VR industry since the Year of VR in 2016. Over the past few years, we have fully demonstrated the core values of Digital Domain, enabling our world-class technologies of content, expertise and experience to be seen in regions outside of North America, including the Greater China region, India and Europe. Some of our top-notch technologies including virtual human and VR technologies are thus made available to the consumer markets, and the VR broadcast technology has turned into a service that is accessible to the audience worldwide."
Mr. Chou continued, "Today, we are much honored to introduce business elites of the technology industry to Digital Domain's Board of Directors, invigorating the Company with new energy, enabling Digital Domain to 'metamorphose' into a creator in the global VR industry that combines content, technology, platform and international vision, welcoming a bright future after our transformation. As a leader in visual effects, immersive experience and interactive contents, Digital Domain's flagship technologies and expertise are the drivers contributing to the Company's leading position in the rapidly expanding VR industry."
On Digital Domain's development, Mr. Daniel Seah, Executive Director and Chief Executive Officer of Digital Domain Holdings Limited, said, "Digital Domain has 24 years of history in Hollywood. Leveraging our heritage, we have successfully transformed this traditional visual effects studio into a leading international enterprise with the great efforts and leadership from our management team. With our proprietary visual effects and VR technology, we have successfully tapped global markets, especially the Greater China market. We are honored to welcome international business elites to Digital Domain as Board members, with their international vision and resources, we are confident that they will be able to lead Digital Domain to reach new heights."
Mr. Seah continued, "Greater China market is one of the key target markets of Digital Domain. We are very pleased to have invited Mr. Wei Ming joining us as Chief Executive Officer of Digital Domain Greater China, which will greatly empower our management team. With his professional knowledge and industry experience, he will have new perspectives to offer in terms of management and operation. Together with our team's innovative ideas and creativities that fuel the metamorphosis of Digital Domain, please expect more excitement to come."
On joining as Digital Domain's Board, Mr. Pu Jian said, "We've seen transformation at Digital Domain over the past few years -- a testament to the professionalism and great passion of the entire management team. CITIC is pleased to be a shareholder and partner of Digital Domain. We look forward to continuing to explore opportunities together in the global VR market." Dr. Alan Song added, "Digital Domain is the industry leader of the global entertainment industry, possessing both top-notch Hollywood VR technology and expertise. We are confident in the huge development potential of the Company. Today, as we join Digital Domain as a member of the Board, will further strengthen our cooperation going forward, supporting the growth of Digital Domain."
Mr. John Lagerling also commented, "Social VR development is gaining traction, and Digital Domain is well-poised as the leader of the VR industry and virtual human technologies. Therefore, I am very happy to be invited into the Board, so that we can join hands together and develop more relevant technologies in the future, to create a new future for the VR social circle."
Mr. Wei Ming, the newly appointed Executive Director, Vice Chairman of the Board and CEO of Greater China, Digital Domain, shared the Company's Greater China development strategy during the conference. He said, "Eyeing on the market potentials that a rapidly developing film and television content market brings, Digital Domain has provided quality contents to the Chinese film, television and internet originated channels, capitalizing on its world-leading special effects technologies, innovation and management systems, leading to healthy business growth for the Company. In the new areas of virtual human and digital avatar, Digital Domain has infused its high-end professional movie production technologies to the mass consumer market, contributing to the increasingly popular use of such technologies, so as to bring more extraordinary experience to our audience."
Mr. Wei continued, "The end-to-end suite of VR solutions not only showcased the strong capabilities of the Digital Domain-branded shooting system, but also established an industry-leading systems and processes, facilitating the development of VR application. By developing original VR contents and close cooperation with broadcasting platforms, Digital Domain is able to fully demonstrate its heritage in the visual effects industry, to become a leading content creator in the VR industry. Digital Domain sees unlimited opportunities in the Greater China market, and we are confident that we can bring more amazing entertainment experience to our audience with the hard work of our teams."
The Digital Avatar technology unveiled at the event is actually an adaption for the consumer of motion capturing technology first used in professional movies and game productions. It is a technological breakthrough in that it allows for the first time to capture and transfer expressions in real time. Thanks to Digital Domain's proprietary technology, consumers can create their own avatars in the virtual world by using just a consumer-grade lens. Using the lowest cost, the highest efficiency and the best effects, what was technology originally existing only in B2B has been upgraded for use in B2C. Digital Avatar holds the hope of ushering in change to so many application areas, such as e-commerce applications and virtual social interactions.
Biographies of new Board members:
Mr. Pu Jian
Mr. Pu is currently the executive director, vice president and a member of the executive committee of CITIC Limited (SEHK: 267), a Hong Kong listed company. He also serves as the executive director of CITIC Group Corporation and, executive director and vice president of CITIC Corporation Limited. Mr. Pu was formerly vice president of CITIC Securities Co., Ltd; vice chairman of China Offshore Helicopter Co., Ltd; president of CITIC Offshore Helicopter Co., Ltd; director of CITIC Group, and president and chairman of CITIC Trust Co., Ltd. He has held management positions in the financial industry and the general aviation industry for many years, and has over 20 years' experience in financial institutions, particularly in the securities and trust fields. Mr. Pu was the former Chairman of China Trustee Association. He is an adjunct professor of Beijing University and China University of Political Science and Law.
Dr. Song Alan Anlan, Ph.D.
Dr. Song is currently one of the managing partners of SB China Venture Capital ("SBCVC"). He is also a director of Shanghai Precise Packaging Co., Ltd., the shares of which are listed on the ChiNext of Shenzhen Stock Exchange, and a director of both Shenzhen Easou Technology Co., Ltd. and Shanghai YiFang Rural Technology Holdings Co., Ltd., the shares of the companies are quoted on the National Equities Exchange and Quotations. In addition, Dr. Song serves as the special advisor for China Association of Small and Medium Enterprises. He was formerly the chairman of the supervisory board of Dehong International Cashmere Co., Ltd, the shares of which are quoted on the National Equities Exchange and Quotations. Prior to joining SBCVC, Dr. Song was a member of UTStarcom's founding team and worked as the director of information technology. He was also the chief technical officer of MDC Telecom, and a founder and director of Global Data Solutions Limited. Prior to that, Dr. Song was an assistant professor of School of Engineering at the University of Connecticut in the United States of America. He has rich experiences in both investment and entrepreneurship and in-depth knowledge in a broad range of technologies.
Mr. John Alexander Lagerling
Mr. Lagerling was the Vice President of business development for mobile and product partnerships of Facebook, Inc., and joined in June 2017 as an executive director and chief business officer of Mercari, Inc. He is also a non-executive director and a member of the audit committee of Modern Times Group MTG AB, the class A and class B shares of which are listed on Nasdaq Stockholm's Large Cap list. Mr. Lagerling was the co-founder and board member of Cronologics Corporation Corporation (which was acquired by Google in 2016). In addition, he spent over seven years at Google, last serving as Director of Android Global Partnerships. Prior to joining that, he worked for NTT DOCOMO, INC.
Mr. Wei Ming
Mr. Wei joined the Group in January 2017. He was a VR fund partner of 1 Verge Group. He was the digital entertainment business unit general manager of Alibaba Group and the business group co-president of Youku Tudou Inc. Mr. Wei also spent over eight years at Youku.com, last serving as president. Prior to joining Youku, Mr. Wei worked for Sohu.com.
About Digital Domain Holdings Limited
Digital Domain creates transportive experiences that entertain, inform and inspire. The company is a pioneer in many fields, including visual effects, livestreaming landmark events in 360 degree virtual reality, building situational awareness applications, creating "virtual humans" for use in films and live events, and developing interactive content. A creative force in visual effects and media applications, Digital Domain and its predecessor entities have brought artistry and technology to hundreds of motion pictures, commercials, video games, music videos and virtual reality experiences. Its groundbreaking visual effects appear in films such as "Titanic," "The Curious Case of Benjamin Button" and blockbusters "Furious 7" and "Deadpool." Staff artists have won more than 100 major awards, including Academy Awards, Clios, BAFTA awards and Cannes Lions. Digital Domain has offices in Los Angeles, Vancouver, Beijing, Shanghai, Taipei and Hong Kong. Digital Domain Holdings Limited is listed on the Hong Kong Stock Exchange (stock code: 547).
Digital Domain Holdings Limited: www.ddhl.com
Digital Domain 3.0: www.digitaldomain.com
For enquiries, please contact Hill+Knowlton Strategies Asia:
| Beatrice Wong |
Tel: (852) 2894 6373 |
| Elaine Qu |
Tel: (852) 2894 6265 |
| Email: |
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