Digital Domain Receives HK$143 Million to Explore AIGC Innovation
01.01.70Hong Kong - April 21, 2023 - Digital Domain Holdings Limited (“Digital Domain” or the Group, stock code: 547.HK) today announces that the Group entered into a subscription agreement for 646,430,000 shares with Mr. Chen Libai, the Founder and Chairman of ADATA Technology Co., LTD. (Stock code: 3260.TWO). The net proceeds from issued subscription shares will be approximately HK$143 million, which are intended to apply towards technological exploration related to artificial intelligence, as well as scale its commercialized expansion of visual humans, visual effects and visualization.
Digital Domain is the pioneer of creating transportive experiences. A creative force in cutting-edge technologies, the Group has brought exceptional artistry to Academy Award-winning blockbusters, include Titanic, What Dreams May Come and The Curious Case of Benjamin Button. To recreate emotions for photorealistic virtual characters, such as Thanos from Avengers franchise and more automatous digital humans beyond the screen, Digital Domain turns to a powerful advance: Deep learning. Utilizing virtual humans technology, Digital Domain has staged Virtual Teresa a surprise comeback at 2023 BRTV Spring Festival Gala - all in real time.
On March 31, Digital Domain announced results for 2022. In last fiscal year, the Group has secured a revenue of HK$959 million, compared to HK$864 million or 11% increase from the same period in 2021, breaking the highest record since its establishment in 1993 driven by laser focus on visual effects and virtual humans business sectors.