After years of negotiations, the
China Film is a giant in the Chinese film industry. In addition to producing, importing, exporting and distributing films, it also operates theater chains, sells film equipment and manages talent.
China's film market is the second biggest in the world and has grown rapidly, and the listing of
The Chinese government unveiled a major policy document from several ministries to boost the film industry with tax incentives and a fund to support certain state-approved movies.
The prospectus shows that domestic ticket sales have been growing by 25% annually for the past 8 years, and ticket revenues at theater chains controlled by China Film grew by 19% between 2012 and 2013.
Net profit between 2011 and 2013 was
The 24% decline in net profitability was due to changes in film import rules which meant it earned less income from importing films.
In the last 3 years, the company has been involved in releasing 591 domestic films and 225 imported films and its market share reached up to 78%.
The figures showed that the market for exporting films is difficult.
China's biggest cinema chain,
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