Leading domestic movie producer Huayi Brothers Media Corp on Tuesday announced a 30 billion yuan ($4.69 billion) cooperation deal with Ping An Bank Co.
The companies will co-produce entertainment content, financial news portal kuaixun.stcn.com reported. Neither company revealed details on how much each would contribute to the arrangement.
Separately, Huayi Brothers announced on Tuesday that it plans a private placement of shares to raising about 3.6 billion yuan. The proceeds will be used to fund the production of movies and repay bank loans.