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China Film Studios See Brutal First Quarter

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

Photo: VCG

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.

Related: Movie Industry Players Report Poor Performance in 2018

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