The deal is in addition to Bona’s current five IMAX theaters in operation and construction. “Today’s agreement is a direct result of the tremendous success of our existing IMAX theatres and IMAX film releases,” said Yu Dong, Bona’s founder and chairman.
China is now the biggest market for giant screen group, and its IMAX China subsidiary has its own share listing. The unit last week revealed a drop in profits which it said reflected a weak crop of films and the upfront cost of opening more than 100 new theaters. At the end of 2016 the number of theaters in commercial operation had leaped from 290 to 407. Excluding the latest order from Bona, IMAX last week revealed an order backlog that would take its China theater total to 758.
Bona opened its first IMAX theatre in Tianjin followed by installations in Beijing, Taiyuan and Wuhan with a fifth theatre set to open in Dalian. Bona has also produced local-language films as IMAX presentations. The first was martial arts epic “Flying Swords of Dragon Gate” in 2011, with “White-Haired Witch” the second in 2014.