Rebecca Davis editorChina’s largest cinema chain operator Wanda Film said Tuesday that it anticipates reporting a net loss of between $214 and $228 million (RMB 1.5 to 1.6 billion) in the first half of the year, after cinemas were shut for almost that entire time due to COVID-19.
In contrast, the firm saw a net profit of $75 million (RMB 524 million) during the same period last year. “All the more than 600 cinemas of Wanda Film in China have been closed since Jan.
23, and the ones overseas also suspended business after the end of March,” the Shenzhen-listed firm said in a stock exchange filing.
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