MD Local Global Ltd. and Goya Award-Winning Animation Studio Abano Producións Sign Feature Film Development Memorandum of Understanding for Journey to the West
Rhea-AI Summary
MD Local Global (NASDAQ:UOKA) signed a Memorandum of Understanding with Spanish animation studio Abano Producións on March 8, 2026 to explore development of a feature-length animated film inspired by Journey to the West.
The collaboration builds on a current animated short, leverages Abano's 2026 Goya Award recognition, and aims for international co‑production, festival positioning, and multi‑platform distribution opportunities.
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News Market Reaction – UOKA
In the Mar 10 session, UOKA declined 2.48%, reflecting a moderate negative market reaction. Argus tracked a peak move of +15.6% during that session. Argus tracked a trough of -2.6% from its starting point during tracking. Our momentum scanner triggered 10 alerts that day, indicating notable trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Mar 09 | Policy support highlight | Positive | +1.3% | Company highlighted UK and European policy support for animation and creatives. |
| Mar 05 | Growth initiative | Positive | +9.9% | Outlined digital animation museum as a funded growth and cultural project. |
| Mar 03 | Capital raise | Positive | +15.4% | Completed public offerings raising USD 8.5M for animation and cultural plans. |
| Mar 02 | Production milestone | Positive | -16.4% | Announced Journey to the West short entering full production with top team. |
| Feb 27 | Dilutive offering | Negative | -61.9% | Priced $2.5M registered direct share sale under existing shelf registration. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent news around animation strategy and financing often aligned with price moves: policy and growth initiatives tended to coincide with gains, while a major offering selloff and one negative reaction to production news show sensitivity to dilution and execution risk.
Over late February and early March 2026, UOKA combined capital raising with an aggressive pivot into global animation and cultural projects. Offerings on Feb 27 and Mar 3 funded animation co-productions and a Fernie Castle cultural field, but the -61.9% reaction to the registered direct offering highlighted dilution pressure. Subsequent announcements on Journey to the West entering production, a digital animation museum initiative, and strong UK/EU policy support positioned animation as a core growth vector. Today’s MOU to develop a Journey to the West feature film extends that same strategic arc.
Key Terms
memorandum of understanding financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
The MOU was signed on March 8, 2026, marking an important step in expanding the collaboration between the two parties beyond their ongoing animated short film project.
Earlier this year, Abano Producións received the 2026 Goya Award for Best Animated Feature Film for Decorado. Presented by the Spanish Academy of Cinematographic Arts and Sciences, the Goya Awards represent the highest honor in Spanish cinema and are widely regarded as the Spanish equivalent of the Academy Awards.
The award further strengthens the international reputation of producer Chelo Loureiro, whose work has long been recognized within the global animation festival circuit.
From Short Film Collaboration to Feature Film Development
On November 12, 2025, MDLG entered into an Animation Production Agreement with Abano Producións, launching the production of the animated short film project. Building upon this ongoing collaboration, MDLG and Abano Producións signed the present MOU, expressing the parties' shared intention to explore the development of a feature-length animated film based on the creative universe established by the short film.
Within the international animation industry, artist-driven animated shorts often serve as both independent artistic works and creative foundations for larger cinematic projects.
Under the MOU, the feature film initiative will seek to expand the narrative and visual identity of the project for a global audience while exploring international co-production structures and distribution opportunities.
An International Creative Collaboration
The project brings together a distinguished international creative team whose work spans animation, cinema, music, and visual storytelling.
The short film is directed by Isabel Herguera, one of
The screenplay is written by Gianmarco Serra, an interdisciplinary filmmaker, composer, and sound artist known for integrating music, sound design, and narrative structure into a unified cinematic language.
Visual development is supported by Gina Thorstensen, an animation filmmaker and visual artist whose work explores emotional perception and experimental visual storytelling.
Together with Goya Award–winning producer Chelo Loureiro and Abano Producións, the collaboration represents a distinctive international creative partnership combining festival-recognized artistic practice, interdisciplinary storytelling, and global production experience.
Reimagining a Classical Myth for a Global Audience
Inspired by the well-known episode often referred to as "The True and the False Monkey King," the project explores enduring philosophical questions surrounding truth, illusion, identity, and self-awareness.
Through animation, the story becomes a reflection on the human mind itself — where fragmentation gives rise to illusion, while clarity emerges through self-knowledge and transformation.
By combining Chinese mythological imagination with contemporary European animation language, the project seeks to create a cinematic work capable of resonating across cultures while remaining rooted in universal philosophical themes.
Strategic and Economic Potential
Beyond its artistic ambition, the project may also present opportunities within the evolving global animation economy.
Animated films grounded in strong mythological worlds have, in certain cases, demonstrated the potential to generate cultural and commercial value across multiple platforms, including international theatrical distribution, global streaming platforms, and cross-media storytelling opportunities.
With the combination of a globally recognized literary source, a Goya Award–winning production company, and an international creative team with strong festival credentials, the Journey to the West animation initiative may be well suited to pursue both cultural relevance and economic opportunity within the international animation market.
Strategic Outlook
The combination of Abano Producións' recent Goya Award victory, the ongoing short film collaboration, and the newly signed feature film development MOU represents an important milestone for the project.
Together, these developments mark the early stages of an international animation initiative that seeks to bridge Eastern philosophical storytelling with the European auteur animation tradition.
As development progresses, the project intends to continue exploring international partnerships, festival positioning strategies, and potential distribution opportunities across both theatrical and streaming platforms.
About Abano Producións
Abano Producións is a Spanish animation studio internationally recognized for producing distinctive auteur animation projects. Led by Goya Award-winning producer Chelo Loureiro, the studio has established a strong presence across the international festival circuit, with productions selected at more than one hundred festivals worldwide.
About MD Local Global Ltd.
MD Local Global Ltd., headquartered in the
The Company is committed to building a globally influential cultural and artistic ecosystem, bringing Eastern philosophy and aesthetics into the world through contemporary storytelling.
Forward-Looking Statements
This announcement contains forward-looking statements within the meaning of the
Investor Contact:
Sherry Zheng
WAVECREST GROUP INC.
Phone: +1 718-213-7386
Email: sherry@wavecrestipo.com
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