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Imax China Loses $26 Million But Claims to Be Strengthened Post-Pandemic
Patrick Frater Asia Bureau ChiefImax China, the supplier of giant screen cinema facilities and services in Greater China, is one of the purest plays on the mainland Chinese movie exhibition market available to investors. The stock, traded in Hong Kong, has rocked and rolled over the past 15 months between HK$10 and HK$25 per share, in response China’s closure of cinemas for six months from January last year, substantial derestriction of capacity controls from October and a spectacular recovery at Lunar New Year 2021.The company’s financial results for calendar and financial year 2020 show revenues plunged by 58% compared with 2019, to $52.3 million.
