China Film Studios See Brutal First Quarter

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

TRENDING: U.S. Drafts Ban on Chinese Optical Modules, Exposing Mutual Supply Chain Risks; Chinese Robotics Startup PokeBot Raises Hundreds of Millions of Dollars; MiniMax Shares Surge After Joining Hong Kong Stock Connect

LATEST: MiniMax Shares Surge After Joining Hong Kong Stock Connect; Chinese Robotics Startup PokeBot Raises Hundreds of Millions of Dollars; U.S. Drafts Ban on Chinese Optical Modules, Exposing Mutual Supply Chain Risks; Alibaba Releases New Qwen Model, Consolidates AI Office Tools; DeepSeek Releases Official V4-Flash Model as China’s AI Race Intensifies; ByteDance, MiniMax Roll Out Upgraded AI-Video Models; Zhongji Innolight Slides in Hong Kong Debut Following $7 Billion IPO; Zhongji Innolight Rebounds After Buyback Plan, Easing Jitters Ahead of Hong Kong Debut; Lenovo Capital Executive Warns of Reckoning for China’s Crowded AI-Powered Robotics Sector; U.S. Takes Aim at Chinese Robot-Makers With Sweeping Import Ban; SK Hynix’s Earnings Miss Adds to Anxiety Over AI Boom; Consumer-Electronics Makers Bet on AI Agents as Phones, Glasses Compete; Moonshot Open-Sources Kimi K3 as U.S.-China AI Tensions Intensify; TikTok Faces New EU Penalty Threat Over Children’s Safety; AgiBot Begins Hong Kong IPO Process as China’s Embodied-AI Startups Race to List; Tencent Folds Multimodal, LLM Teams Into New AI Unit; Kai-Fu Lee Says AI Will Soon Reshape Corporate Reporting and Management; Flashy Robot Demos at WAIC Mask Struggles With Real-World Deployment; Kimi K3 Demand Surge Forces Moonshot AI to Pause Sign-Ups; Chinese AI Chip Startups Look Beyond the Cloud to Edge Devices

By Yang Ge / Apr 10, 2019 04:27 PM / Business & Tech

Photo: VCG

Three of China's major independent film studios, Huayi Brothers, Enlight Media and Zhejiang Talent TV have all issued warnings saying their business deteriorated sharply in the first quarter.

Huayi and Zhejiang Talent both slid into the loss column during the quarter, while Enlight said its profit dropped around 95%.

The companies are citing a number of factors, including ones specific to their own business and broader weakness in the sector.

Many may also be taking a hit as the government cracks down on tax evasion by film companies.

Share this article

Open WeChat and scan the QR code