Hengdian Entertainment, a listed company that straddles film and television production and cinema operation in China, has made an indicative offer of RMB3 billion ($446 million) to buy the Shanghai…
In both 2020 and 2021 China was the world’s largestmarket, albeit with gross revenues below 2019 levels, and the number of cinemas in operation increased. The national government last year also called for further cinema building as part of its five-year plan for the film industry’s development.
Recent weeks have seen some recovery, but consultancy, Artisan Gateway calculates that nationwide year-to-date box office by July 10, 2022, was more than 35% below the same point in 2021.
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