China’s Wanda Film Warns of Return to Losses in First Half
Wanda Film, China’s largest cinema operator, has forecast a return to heavy losses for the first half of 2022. In a regulatory filing, the company warned of net losses (including non-recurring items) reaching between RMB 580 million – RMB 660 million ($85 million – $97.8 million) for the six months to June. That compares with a net profit of RMB613 million $90.8 million in the equivalent period last year. Read more Variety
Tencent to Shut Down NFT Platform Huanhe Only A Year after Launching
The Chinese tech, video games and publishing giant Tencent continues to face problems at home. The Big Tech firm decided to shut down its NFT marketplace called “Huanhe” only about a year after launching it. This isn’t the first time the Chinese gaming giant had to close a platform in Q2 2022. Read more Mobidictum
