Western Resources Holding (600139.SH) announced on late Thursday to set up five wholly-owned subsidiaries in Shanghai, east China to set foot in culture and sports fields.Each new subsidiary will have a registered capital of 50 million yuan and be engaged in the cultural and sports projects.
Meanwhile, the Shanghai-listed company also signed a memorandum with the Changchun Film Studio Group to jointly build film industrial projects and film theme parks in an effort to strengthen its anti-risk capacity, enhance profitability and obtain new profit growth point, according to its filing to the stock exchange.
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