Shenzhen Stock Exchange Issues Letter of Concern to Huayi Brothers
On February 6, Chinese film studio Huayi Brothers received a letter of concern from the Shenzhen Stock Exchange, asking the company to further explain its substantial loss in each business segment in the fiscal year 2019. In a previously released financial report, Huayi Brothers said that the company expected a total loss of roughly RMB 4 billion in FY 2019, mainly due to the provision for impairment of goodwill, long-term equity investment and other asset impairment provisions. However, the letter of concern shows that the Shenzhen Stock Exchange had inquired Huayi Brothers if there was any risk of goodwill impairment when the company released its semi-annual report of 2019. Huayi Brothers replied that no signs of impairment were found. Read more on Sohu
Lantern Festival TV Galas Pay Tribute to Medical Workers
To celebrate China’s Lantern Festival (a traditional festival celebrated on the 15th day of the first month in the lunar calendar), three Chinese satellite television channels released their line-ups of Lantern Festival galas. To be held on the night of February 8, all of the TV channels, including Hunan TV, Shanghai TV, and Jiangsu TV, will present special programs to pay tribute to medical workers who are fighting the coronavirus epidemic on the front line. As a precaution against the virus, Hunan TV will not invite audiences to the studio. Instead, the audience can interact with performers through online danmu (user comments, or “bullet chats”). Read more on 1905.com
