Funding From Tencent, JD.com Boosts Leshi Stock
Since August 21st, stock price of Leshi, which belongs to the troubled LeEco, has been doubled from 2.08 yuan per share to 4.15 yuan, while the overall stock market index in China dropped by 5%. Many industry insiders believe that the soaring Leshi stock was likely boosted by the funding raised by Leshi’s new media unit from Tencent and JD.com. Set up by Leshi’s subsidiary Lerong Zhixin Electronic Technology, the Beijing-based new media unit will focus on producing consumer electronics as well as TV content. Surprisingly, Leshi suspended trading on September 6 due to the volatility of its stock. It remains to be seen if LeShi and its parent company LeEco will eventually revive or completely fall apart over the next a few months. Read more on yuleguan001
2018 American Animated Film ‘Cinderella 3D’ Scores October 1 China Release
Upcoming American animated movie Cinderella 3D (aka Cinderella and Secret Prince) has been scheduled to release in China on October 1st. Directed by Lynne Southerland (Mulan 2), this new Cinderella adaptation tells the classic tale in reverse. During the Royal Ball, Cinderella discovers that the “Prince” is actually a fraud, while the real prince has been turned into a mouse by some evil witchcraft. To save the real prince, Cinderella and her magician friend are going to begin a new adventure. In this film, “Cinderella” is no longer a delicate pretty damsel, but an independent lady with courage and determination. In addition to China, Cinderella 3D will be released in over 80 countries around the world on the same day. Mtime
2018 China Box Office Crossed $ 6.68 Billion in August
The 2018 China box office earnings have reached 45.7 billion yuan ($ 6.68 billion) by the end of August, according to data released by Ent Group. The total China box office of 2018 is projected to cross last year’s 55.9 billion yuan ($8.17 billion) with the possibility of reaching 70 billion yuan ($10.2 billion). Box office earnings of the top three August films, The Island, Hello Mr. Billionaire and The Meg, made up 52.3% of the month’s total box office. In September, domestic movies will dominate the Chinese theaters. Highly anticipated titles include Zhang Yimou’s Shadow, Jia Zhangke’s Ash is the Purest White, and Hong Kong action movie L Storm. entgroup.cn
