China Integrated Media Corporation Ltd — Growing focus on advertising in glasses free 3-D display business

Growing focus on advertising in glasses free 3-D display business:China Integrated Media Corporation Ltd (ASX: CIK) expects to have a net profit before tax for the year ended 31 December 2015 of about A$1,800,000 to A$2,100,000 compared to loss of about A$899,508 in 2014. This result is expected to be driven by the sales of MARVEL 3DPro Super Workstations. The company announced that its newly acquired subsidiary, Marvel Digital Limited launched the MARVEL 3DPro Super Workstations which is an all in one computer workstation delivering unparalleled computing power and speed for 2-D to 3-D content conversion. The company has received several orders from customers to the value of approximately $ 3.8 million. Shipment and installation of some of these machines was expected to be complete by the end of December 2015. For the six months ended 30 June 2015, the group continued to focus on the distribution of glasses free 3-D displays and software and the provision of 3-D consultancy services. The company acquired 100% interest in Conco International Co Ltd, which is primarily engaged in audio products and the business will complement the 3-D display business unit. The group also continues to build infrastructure and operations in Hong Kong to enter the growing advertising market in China. The main focus of the group continues to be development of digital media/advertising in glasses free 3-D and continue to seek potential acquisitions which can add value. However, we believe that the stock is pricey at the current stock price and, being expensive, should be avoided at the moment. To read the complete report click here

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