Reach Glory acquired by Gangtai Holdings
Early January, Reach Glory Media Group announced that it has been acquired by Gangtai Holdings (Group) Co., Ltd. (Gangtai Holdings), a Chinese listed company, for 440 million RMBs.
Gangtai Holdings (Group) Co., Ltd. (stock code: 600687.SH ) is the subsidiary of Gangtai Group Co., Ltd. whose main business includes mineral resources development, utilization and exploration technical services; design, processing and marketing of precious metal products.
Reach Glory has been committed to the whole industry chain operation of entertainment market, which requires a huge capital support, and the marriage with Gangtai Holdings means a strategic expansion with a bigger capital platform for it.
With Gagntai Holdings’ strong social and financial background, Reach Glory will carry on its capital operation through expanded financing channels, extending to the upstream of entertainment industry with increased investment in entertainment content developing and producing, to enhance profitability and improve returns to shareholders.