Le Vision Pictures (Beijing) Co Ltd, one of China's leading private film companies, announced on Thursday that it plans to release 15 movies this year with the aim of generating 3 billion yuan ($489 million) in box office revenues.

In 2013, it released nine films, generating more than 1 billion yuan in ticket sales, ranking it third among private movie companies in China.

China's national box office reached nearly 21.8 billion yuan last year, increasing 27.5 percent year-on-year.

The company also announced its development strategy for the next three years in which it will transform from a traditional movie company to an Internet company.

"The core of this transformation lies in converting audience into subscribers," said Zhang Zhao, CEO of Le Vision Pictures.

huangying@chinadaily.com.cn