VMPL
Chennai (Tamil Nadu) [India], March 15: Phantom Digital Effects Limited (NSE: PHANTOMFX), a creative visual effects (VFX) studio, has announced the incorporation of its wholly owned subsidiary in China, named as "Hangzhou Huantong Digital Technology Co., Ltd". This strategic expansion marks a significant milestone in PhantomFX's journey, reinforcing its position as a key player in the global VFX industry and enhancing its ability to serve the rapidly growing Chinese VFX market.
With a registered capital of RMB 1 million, the newly established subsidiary will serve as a key hub for PhantomFX's VFX operations in China, enabling deeper market penetration and enhanced service offerings for regional and international clients.
This move builds on PhantomFX's earlier announced strategic partnerships with major Chinese production houses, which were initiated and endorsed by the Chinese government. In October 2024, PhantomFX entered a Strategic Cooperation Framework agreement and a Memorandum of Framework (MOF) to provide visual effects for three feature films and 100 short dramas (skits)a government-backed project valued at $1 to $1.2 million. These collaborations mark a significant milestone in PhantomFX's expansion and reinforce its growing influence in China's entertainment sector.
Commenting on the development Mr. Bejoy Arputharaj S , Managing Director, Phantom Digital Effects Limited said, "The incorporation of our wholly owned subsidiary in China is a crucial step in our mission to expand PhantomFX's global reach. China's rapidly growing VFX industry presents immense opportunities, and establishing a local presence allows us to collaborate closely with leading studios and filmmakers. By embedding ourselves in this vibrant market, we can strengthen our ability to deliver world-class VFX solutions while fostering innovation and talent development in the region.
Our goal is to bring the best of PhantomFX's expertise to China and contribute to the evolution of digital storytelling on a global scale. We remain committed to innovation, artistic excellence, and cutting-edge technology, ensuring that its presence in China not only strengthens its global footprint but also fosters new creative partnerships."
With an increasing demand for hyper-realistic visual effects, immersive virtual experiences, and high-end animation, PhantomFX's entry into the Chinese market is poised to open new doors for business collaborations, talent acquisition, and technology integration. The move underscores PhantomFX's commitment to staying ahead in the rapidly evolving industry.
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