Abstract : Wanda Film Holding Co., Ltd. on Tuesday reported a notable net loss in the first half of the year (H1) as COVID-19 forced China's biggest movie theater operator to shut its theaters.
BEIJING, July 14 (Xinhua) — Wanda Film Holding Co., Ltd. on Tuesday
reported a notable net loss in the first half of the year (H1) as
COVID-19 forced China’s biggest movie theater operator to shut its
The company suffered a net loss in the range of 1.5 billion yuan (214
million U.S. dollars) to 1.6 billion yuan in H1, compared with a profit
of 524 million yuan during the same period last year, the company said
in its preliminary earnings estimate, filed with the Shenzhen Stock
Wanda Film said more than 600 of its domestic cinemas had been closed
since Jan. 23, while its overseas cinemas had also suspended operations
since the end of March.
The company also cited postponed releases of movies it invested in, and the delayed shooting of TV dramas.
The shares of Wanda Film rose by 7.94 percent to close at 20.81 yuan apiece on Tuesday. Enditem
About Xinhua Silk Road
Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal.China’s silk road economic belt and the 21st century maritime silk road website,includes BRI Policy,BRI Trade,BRI Investment,Belt and Road weekly,Know Belt and Road,and the integrated information services for the Belt and Road Initiative (BRI).
Source: Wanda Film loses over 1.5 billion yuan due to COVID-19