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 item…
In a regulatory filing, the company warned of net losses reaching between RMB 580 million – RMB 660 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.
The company forecast better times ahead, noting that more than 80% of its cinemas nationwide had reopened by the end of the first half and that cinemas in Shanghai were operating from July 8. Film distribution is also picking up.
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