Beijing Culture Share Price Leap Reflects Chinese New Year Box Office Surprise
Rebecca Davis, provided by
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The embattled production powerhouse Beijing Culture has emerged as the biggest publicly-listed winner of the Chinese New Year box office bonanza. Its stock price has climbed 18% since the start of the holiday thanks to the success of its hit comedy “Hi Mom.”
The boost is a much needed one following two years of losses and a government investigation late last year that unveiled mismanagement and inaccurate figures in its prior financial statements. The stock has a history of spiking sharply upwards on good news, only to head lower at other times