XE Flavor to invest $403m on TV services

A pedestrian walks past a Xiang E Qing restaurant in Beijing, China, July 17 2013. [Photo/IC]

XE Flavor Group Co Ltd plans to invest 2.5 billion yuan ($403 million) on intellectual cable television services, pushing its stock prices up 10.05 percent on Wednesday.

The former high-end catering company, which shifted its core businesses to culture and environmental friendly industries in the past few months, has focused on home intellectual terminal market.

According to its statement, XE Flavor has signed an agreement with Anhui Radio & Television Information Network Co Ltd to jointly develop home intellectual cable television cloud terminal services in Anhui province.

Anhui Radio & Television Information Network Co Ltd will offer the project of development five million households home cable cloud terminals within the province to XE Flavor and the two sides will jointly operate and manage the project.

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