Beijing Baination Pictures (SHE:300291) agreed to jointly produce a series with Shanghai Tencent Penguin Film and Television Culture Communication for 400 million yuan as part of a film and television cooperation deal between the parties, according to a Shenzhen Stock Exchange filing on Friday.
Tencent Film will bear the production costs of the drama and Baination Pictures will complete the drama's production, the Chinese media company said.
The company's shares closed 3% higher.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.