China’s Wanda Film Anticipates Up to $228 Million Loss in First Half of 2020

Patrick Frater Asia Bureau ChiefDelayed by over a year for mysterious political reasons, epic Chinese war film “The Eight Hundred” has finally locked down a date for release in theaters.It will open in conventional and Imax cinemas in China from Aug. 21, making it one of the first outings for a high-profile local film since Chinese cinemas hesitantly returned to operation in late July.The $80 million film was produced by Huayi Brothers and is directed by Guan Hu (Mister Six”).

China’s theatrical box office would overtake that of North America.That scenario hasn’t happened yet. Last year, China’s box office growth slowed to a pedestrian 5% and reached a $9 billion total, according to the Motion Picture Association.

Rebecca Davis editorImax China, the Hong Kong-listed subsidiary of Imax, has warned that it expects a net loss between $34 and $36 million for the first half of the year, as cinema closures in the country due to COVID-19 have slammed exhibition firms. The 2020 figures stand in contrast to a net profit of $24 million in the same period last year.

Nancy Tartaglione International Box Office Editor/Senior ContributorAs Chinese cinemas began the reopening process today, box office crossed $472K by 8PM local. Maoyan’s real-time ticketing platform reports that play is led by new entry A First Farewell at around $184K.

As cinemas in China look to reopen on Monday amid the novel coronavirus pandemic, Imax Corp. has signed a 20-theater deal with Chinese industry giant Wanda Film Co.

The Shanghai International Film Festival, China's longest-running major cinema event, will take place in-person beginning July 25. The 2020 edition of the festival, now scheduled to kick off in just over one week, will take a condensed form and be mostly a Chinese affair, staffers for the event told The Hollywood Reporter Thursday.

Jill Goldsmith Co-Business EditorImax China has expanded its decade long partership with Wanda Film Co.

Rebecca Davis editorThe Shanghai International Film Festival will take place July 25 to Aug. 2, after Chinese authorities announced Thursday that cinemas will reopen at long last, beginning next Monday in low-risk regions.The Shanghai International TV Festival has also set its dates.

China's largest cinema chain operator Wanda Film said it expects to lose $214 to $228 million (RMB 1.5 to 1.6 billion) in the first half of 2020 thanks to over five months on continual cinema shutdowns in response to the coronavirus pandemic. The decline represents a stark reversal of fortunes from the $75 million profit the Chinese exhibition giant reported during the same period in 2019.

Also Read: 'First Cow' Director Kelly Reichardt Wins $50,000 Spirit Awards Filmmaker GrantAfter a brief, contemporary prologue that haunts every frame to follow, we find ourselves in the Oregon Territory around 1820.

If you thought the BTS ARMY featuring a few of the most creative minds in the world, wait until you meet their parents. There is no two ways about the fact that ARMY members drop everything when RM, Jin, Suga, J-Hope, Jimin, V and Jungkook release anything remotely about themselves or the band.

recent talk of banning the app in the United States because of its China-controlled parent company, Sensor Tower found the U.S. was the country with the second-highest installs of TikTok in June — roughly 8.7%.

Blued, which claims to be the world’s largest gay social network app, has announced plans for a US Initial Public Offering (IPO).Last week, China-based BlueCity Holdings in its filings with the Securities and Exchange Commission revealed that it plans to raise around $85 million in an IPO of American Depositary Shares (ADS).The IPO scheduled to hit the market on Wednesday July 8 is planning to sell 5.3 million ADS at a price of $15-$17 per ADS.With over 49 million registered users, as of March

Hong Kong director Derek Tsang'sBetter Dayswon the top prizes at the first—and perhaps only—virtual edition of Italy's Far East Film Festival (FEFF). Tsang's romantic crime drama, starringZhou Dongyu and Jackson Yee, took the overall audience award, the Golden Mulberry, as well as the Black Mulberry, voted on by the Shogun pass holders.

Richard Kuipers There’s a bit of everything and most of it works in “Chasing Dream,” the first feature directed by Hong Kong ace Johnnie To since “Three” in 2016.

The Shanghai International Film Festival is expected to take place in-person in late July, several reputable Chinese media outlets have reported. The festival, China's oldest and most prestigious international cinema event, typically is held in mid-June, but it was indefinitely postponed this year in response to the pandemic.