Imax Leads China Film Stocks Higher on Record Ticket Sales

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: Geely Leads $141 Million Round for Tsinghua-Linked Robotics Startup; Intel Pivots to Custom Chips to Tap China’s Trillion-Yuan Computing Markets; Wingtech Demands Return of Nexperia Control After Dutch Freeze Pause

LATEST: AI Keeps China, U.S. From Decoupling Despite Trade Tensions, Insiders Say; Wingtech Demands Return of Nexperia Control After Dutch Freeze Pause; Intel Pivots to Custom Chips to Tap China’s Trillion-Yuan Computing Markets; Geely Leads $141 Million Round for Tsinghua-Linked Robotics Startup; China’s Giant Neutrino Detector Delivers First Results With Record Precision; China Unicom Taps Veteran Executive as Chairman to Navigate Telecom Transition; Chinese Self-Driving Firms Accelerate Into Middle East, Southeast Asia; Baidu Posts Record Revenue Decline as Ad Business Falters; Xiaomi’s EV, AI Units Post First Quarterly Profit; China’s Agricultural Drone Makers Pivot to Smarter Navigation as Size Race Ends; Alibaba Renames AI App to Stand Out in China’s Crowded Chatbot Market; Investors Flock to Chinese eVTOLs Chasing Regulatory Green Lights; Nexperia Headquarters Rachets Up Feud With China Unit With Salvo of Accusations; Robot-Maker Unitree Steps Closer to China IPO; Tencent Says Talks With Apple on WeChat Game Fees Are Advancing; Baidu Unveils Ambitious AI Chip Roadmap, Targeting 1 Million-Card Cluster by 2030; Tencent’s Profit Rises 19% on Overseas Gaming and AI-Powered Ad Surge; Caixin Summit: Design, Commercialization Key to China’s Low-Altitude Economy Taking Off, Industry Insider Says; China’s Robotics Revenue Soars as Industry Races to Crack Embodied AI; U.S. Formally Suspends Sweeping Export Control Rule for One Year After China Trade Talks

By Bloomberg / Feb 16, 2021 12:38 PM / Economy

Imax China Holding Inc. led a rally in Chinese entertainment stocks after data showed local box-office revenue hit a record high for the Lunar New Year.

Ticket sales for the first five days of the Lunar New Year holidays starting Feb. 11 touched 5.7 billion yuan ($880 million), about 33% more than the same period in 2019, which was the previous record, according to Maoyan Entertainment, with Chinese films emerging as the top contributors.

Imax China surged by as much as a record 88% in Hong Kong on Tuesday, while Alibaba Pictures Group Ltd. jumped 35% and Maoyan rose 25%, according to data compiled by Bloomberg.

With new Covid-19 cases down to a handful a day, Chinese moviegoers are flocking back to cinemas, boosting collections at the box office. China overtook the U.S. to become the top movie market last year, as the pandemic shut American film theaters for longer than their Chinese peers.

Contact editor Marcus Ryder (marcusryder@caixin.com)

Share this article

Open WeChat and scan the QR code