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Imagi International, working with two top executives from the Fanya exchange, plans to develop a major commodities trading platform and a related internet-based finance business, the company said in its 2014 annual report.
The plan to develop the trading platform comes as the animation studio, responsible for making the 2007 film Teenage Mutant Ninja Turtles, undertakes a strategic review into how to utilise its surplus cash.
It also comes after Shan Jiuliang, the Fanya Metal Exchange’s founder and chairman, and Zhang Peng, the exchange’s vp, joined the board of Imagi in the second half of 2014.
The experience of both Shan and Zhang in trading, combined with non-executive director Francis Leung’s experience in investment banking and private equity investment, have helped to drive the move, Imagi said.
“The business structure and plan of the new business have been finalised and preliminary preparatory work is ongoing,” Imagi added.
Imagi did not specify which commodity trading platform it plans to develop, and neither Imagi nor Fanya would comment on whether the platform mentioned was the Fanya Metal Exchange.
Shan is the chairman and executive director at Imagi International, and Peng is an executive director.
Profits for the company in 2014 stood at HK$3.5 million ($450,000) for 2014, from a loss of HK$21.9 million in 2013.
Chloe Smith chloe.smith@metalbulletin.com Twitter: ChloeSmith_MB