Chinese cinemas, movie firms see huge losses in Q1, many rush to raise money

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Chinese cinema operators posted huge loss in the first quarter of the year due to the coronavirus outbreak. Though people are heading back to work and going shopping as lockdown is lifted, gathering places such as cinemas and theatres remain closed, bringing more uncertainties to one of the hardest hit sector.

Wanda Film owned by Chinese billionaire Wang Jianlin, the top cinema chain in China that controls AMC Entertainment Holdings in the US, said it lost 550 - 650 million yuan in the first quarter, plunging more than 200 per cent, according to its filing to the Shenzhen . . .

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