Litian Pictures (HKG:9958) has entered into a memorandum of understanding with Shanxi Ningle Pharmaceutical Logistics to form a joint venture company.
Shanxi Ningle Pharmaceutical Logistics will provide land resources and buildings to the joint venture for the Group to use as warehouses and as a film and television production base.
Shanxi Ningle is also looking into other industrial cooperation plans with Litian Pictures.
The parties are yet to enter into a formal agreement regarding the formation of the JV firm and subsequent cooperation.
Shares of the company closed 17% higher on Thursday.
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