BEIJING, Jan. 10, 2017
/PRNewswire/ -- China Digital TV Holding Co., Ltd. (NYSE: STV)
("China Digital TV" or the "Company"), the leading provider of
cloud-based application platforms and conditional access ("CA")
systems which enable China's
digital cable television market to offer and secure diversified
content services, today announced that Beijing Cyber Cloud
Technology Co., Ltd. ("Cyber Cloud"), a subsidiary of China Digital
TV, entered a capital increase agreement (the "Agreement") with
ShouTai JinXin (Beijing) Capital
Management ("ShouTai JinXin"), a leading fund management company in
China, pursuant to which ShouTai
JinXin will invest RMB33.0 million in
cash into Cyber Cloud.
"We are very pleased to announce this capital increase
agreement. ShouTai JinXin's strategic investment in Cyber Cloud
demonstrates investors' confidence in the significant potential and
opportunities associated with our cloud business," commented Mr.
Jianhua Zhu, China Digital TV's
chief executive officer. "As of the year end of 2016, we have
deployed our cyber cloud platform across China with over 5.0 million total registered
users. With our leadership position and strong partnerships in
China's cable TV market, we are
committed to building and promoting our cyber cloud ecosystem
throughout China. We will continue
to explore investment and partnership opportunities to further
expand our cyber cloud services into new cities and enrich our
content offerings."
About China Digital TV
Founded in 2004, China Digital TV enables television network
operators to manage, extend and diversify content services across
households and public areas in China. China Digital TV is the leading
provider of cloud-based application platforms to Chinese cable
operators, helping them to effectively bring mobile gaming apps and
other entertainment options to household television sets, and
extend cable programming outside the home to any mobile device.
China Digital TV is also the leading provider of Conditional Access
("CA") systems in China's digital
television market. CA systems enable television network operators
to secure the delivery of content to their subscribers. The Company
has existing cooperation with nearly all of China's cable television operators.
For more information please visit the Investor Relations section
of China Digital TV's website at http://ir.chinadtv.cn.
About ShouTai JinXin
ShouTai JinXin is a China based
investment company, mainly concentrating its operation on equity
investment in China. Its assets
under management are approximately US$5
billion.
Safe Harbor Statement
This announcement contains forward-looking statements within the
meaning of Section 27A of the United States Securities Act of 1933,
as amended, and Section 21E of the United States Securities
Exchange Act of 1934, as amended. Such forward-looking
statements are made under the "safe harbor" provisions of the
Private Securities Litigation Reform Act of 1995.
These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates," "may," "should" and
similar expressions. Such forward-looking statements include,
without limitation, statements regarding the outlook and comments
by management in this announcement about trends in the CA systems,
digital television, cable television and related industries in the
PRC and China Digital TV's strategic and operational plans and
future market positions. China Digital TV may also make
forward-looking statements in its periodic reports filed with the
Securities and Exchange Commission, in its annual report to
shareholders, in press releases and other written materials and in
oral statements made by its officers, directors or employees to
third parties. Statements that are not historical facts, including
statements about China Digital TV's beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from projections contained or
implied in any forward-looking statement, including but not limited
to the following: competition in the CA systems, digital
television, cable television and related industries in the PRC and
the impact of such competition on prices, our ability to implement
our business strategies, changes in technology, the progress of the
television digitalization in the PRC, the structure of the cable
television industry or television viewer preferences, changes in
PRC laws, regulations or policies with respect to the CA systems,
digital television, cable television and related industries,
including the extent of non-PRC companies' participation in such
industries, and changes in political, economic, legal and social
conditions in the PRC, including the government's policies with
respect to economic growth, foreign exchange and foreign
investment.
Further information regarding these and other risks and
uncertainties is included in our annual report on Form 20-F and
other documents filed with the Securities and Exchange Commission.
China Digital TV does not assume any obligation to update any
forward-looking statements, which apply only as of the date of this
press release.
For investor and media inquiries, please contact:
China Digital TV Holding Co., Ltd.
Nan Hao
Investor Relations Manager
Tel: +86-10-6297-1199 x 9780
Email: ir@chinadtv.cn
ICR, Inc.
Xueli Song
Tel: +1 (646) 328-1950
Email: stv@icrinc.com
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SOURCE China Digital TV Holding Co., Ltd.