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China’s Huayi Forecasts Profits of $136 Million

Huayi Brothers Media says that its full year profits for 2015 will exceed $136 million (RMB897 million.)

In a regulatory filing ahead of its audited accounts, the company, which is China’s leading film studio, said that net profits could rise as high as $164 million (RMB1.08 billion.) That would represent a 20% increase over the previous year.

The company said that the growth came from successful exploitation of its film and TV properties, artist management and online ticketing activities. Movie hits last year included “Mr Six,” and a stake in “Mojin: The Lost Tomb.”

Management expressed confidence in its ongoing businesses and said that two chairmen will buy RMB500 million ($76 million) of shares in the next 12 months. The company will pay a cash dividend of RMB1.5 ($0.228) per ordinary share.

 

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