Headlines from China: Bilibili Getting Ready for US IPO with Cornerstone Investments

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Bilibili Getting Ready for US IPO with Cornerstone Investments

Chinese video site Bilibili is seeking cornerstone investments to prepare for its upcoming IPO in the United States, according to Caijing Magazine. Cornerstone investors are investors who agree in advance to subscribe for a certain number of shares in a forthcoming initial public offering (IPO). Although Bilibili is a leading video site and the most popular entertainment site among China’s youngsters, most people in the west are unfamiliar with this brand. By securing cornerstone investments, Bilibili hopes to increase American investors’ confidence in the company. Read more on Ent Group

‘Legend of The Demon Cat’ Leads Asian Film Awards Nominations

The 12th Asian Film Awards nominations are just announced. Chen Kaige’s fantasy mystery Legend of the Demon Cat leads the competition with six nominations, which unfortunately doesn’t include nomination for The Best Picture Award. Three other Chinese films, including Angels Wear White, Youth, and Love Education, and Japanese film The Third Murder receive five nominations each. Launched by the Hong Kong International Film Festival in 2007, the Asian Film Awards are currently co-presented by Hong Kong International Film Festival, Busan International Film Festival, and Tokyo International Film Festival. Read more on Mtime

Chinese E-commerce Giant JD.com Launches Digital Entertainment Division 

JD.com will re-design its organizational structure and launch three new divisions, which include a retail division, a digital entertainment division, and a lifestyle division, according to an internal letter from the company’s CEO Liu Qiangdong to its employees. Yan Xiaobing has been named CEO of the entertainment division. By changing its organizational structure, JD.com hopes to expand business and better serve its customers’ ever-changing needs. Read more on Jiemian

Will Any of These Ten Films Beats ‘The Ex-File 3’ Tomorrow?

The past two weeks are relatively uneventful at China box office with local rom-com The Ex-File 3: The Return of the Exes leading the race. This weekend, a new batch of ten films, including highly anticipated films Forever Young, Jumanji: Welcome to the Jungle, and Have A Nice Day, will open in Chinese theaters, making the competition fiercer. yingshidushe