Can China Film Group Return to the No.1 position in Chinese Film Market?
Many listed Chinese film & TV companies reported less profits or even losses in their financial reports for the first half of 2019. Yet the state-run China Film Group reported strong performance during the reporting period. According to the company’s report, China Film Group earned RMB4.841 billion, up by 4.81% year on year in the first 6 months. Its net profits reached RMB681 million, up 2.25% compared with the previous year. Although the growth in net profits seems small, it’s still better than most of the other listed film & TV companies in China. This also marks the first time that China Film Group gained more profits than Wanda Media since 2016, the year when China Film Group went public. However, the company’s financial growth stemmed mostly from the surprising box office hit The Wandering Earth, which brought a profit of RMB 270 – 280 million to China Film Group. It remains to be seen if China Film Group will return to its glorious days in the Chinese film market. Read more on Ent Group
Musical Drama Film ‘Sing Street’ Gets China Release
Directed by John Carney, the musical comedy drama film Sing Street has been confirmed for release in China through the nationwide alliance of Arthouse Cinemas. The release date is yet to announce. It marks the fourth installment of “Life in Art: Season of Music” (“艺术人生”系列音乐季) film series. Starring Ferdia Walsh-Peelo and Lucy Boynton (Bohemian Rhapsody), Sing Street tell the story of 14-year-old Irish boy Conor who build a band to impress a girl Raphina in 1980s Dublin. Read more on Mtime