August 7, 2017
August 7, 2017
“Legend of the Naga Pearls” is a mixture of live-action, animation, adventure and comedy movie, directed by notable director “Yang Lei”, starring A-listers, “Wang Da lu”, “Zhang Tian Ai” and “Ren Da Hua”. This movie is jointly produced by Shanghai Film Group and Shanghai Media Asia. The standards required for CGI and VFX are extremely high as this movie will be released in 2D, 3D formats and over 420 IMAX 3D theatres.
The movie “Legend of the Naga Pearls” is the very first adaptation of the Novoland novel series, one of the most influential sci-fi works in the Chinese literary world. With the vast majority of Novoland dedicated readers born during the 90’s, these dedicated readers possess strong spending powers and forming part of the movie watching consumers. With such a strong fan base the movie is expected to be a commercial success in the box-office. The back- to-back releases of 2 VFX-heavy movies worked on by VHQ mark an important milestone for VHQ because of it’s leadership position in the Chinese VFX market is now increasingly stronger. Currently in production at VHQ are a series of such big budget, VFX-heavy movies, amongst of which are “Amazing Journey”, and “Foreign Land”, both of which are scheduled to be released in 2018. All these projects will further anchor VHQ’s leading position in China’s movie and VFX industry.
VHQ is being recognized by China market as the leading visual effects company. Effects are constantly being developed through its in-house research and technical team on the back of mainstream cutting-edge tools, enabling it to continuously generate high-end work in large volumes. At present, the company has in-hand, projects which stretch well into 2018. Over the next two years company has secured more than 10 projects of which CGI and VFX-heavy ones account for more than 2/3 of this total.
VHQ explains that since the implementation and governmental protection such as the [Chinese Film Industry Promotion Laws] on 1st March 2017, Chinese films are expected to see significant development. In 2016, Chinese made movies made up 55% of total theater screening time and with the implementation of [Chinese Film Industry Promotion Laws], such number cannot fall below 67% in the future. As the pioneering expert in the field of visual effects for the Chinese film market, VHQ stands to be one of the primary beneficiaries of the Chinese government’s pro-China policies. In addition, among the top 10 box office movies of 2016, 6 of them were Chinese movies and most of them fall under the action and sci-fi genres. This proves that the Chinese general public prefers movies that are large-scale, with high-end special effects. Significant growth can be expected for the company’s future.
VHQ was established in Singapore in 1987 as a post-production studio. In 2001, its then Managing Director lead an MBO exercise and recapitalised the company operates a network covering Asean. In 2013, VHQ China was launched to service the ever increasing volume of work, mainly feature films, which originated from China. In 2014, VHQ Media Holdings Ltd was incorporated and was listed in December 2015 on the Taipei Exchange (Ticker – VHQ-KY 4803). VHQ’s core business is in the production of visual effects, animation, motion graphics and post production services for commercials & feature films.
VHQ celebrates its 30th anniversary in 2017 with thriving facilities in Singapore, Malaysia, Indonesia, Taiwan and China.
For general enquiries, please contact:
Low Kok Wah
Tel: +886 2 2657 7886
For media enquiries, please contact:
Sarah Liu, Time Investor Relations
Tel: +886 932 949928