Linmon Media (HKG:9857) renewed two agreements with Tencent Computer and one contract with TME Shenzhen on Monday, a same-day bourse filing said.
Framework agreement for drama series and movies copyright licensing and advertisement production services were renewed with Tencent Computer. The production house also renewed a music copyright licensing contract with TME Shenzhen.
The contracts were renewed for three years starting Jan. 1, 2025, and ending Dec. 31, 2027.
Tencent Computer is a unit of Tencent (HKG:0700), whose other subsidiary, Tencent Mobility, is a substantial shareholder of Linmon Media. TME Shenzhen is a unit of Tencent Music Entertainment (HKG:1698) which is also a subsidiary of Tencent.
The renewal of the contracts is subject to shareholder approval.
Shares of the company closed over 4% lower on Tuesday.
Price (HKD): $2.80, Change: $-0.12, Percent Change: -4.11%
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