Lunar New Year Box Office Boom Lifts Movie Sector Shares in Hong Kong
Patrick Frater, provided by
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Movie industry shares soared in Hong Kong on Tuesday in response to the bumper revenues being earned at the mainland China box office over the Chinese New Year holidays.
Leading the gains were Imax China and Alibaba Pictures, both of which have direct stakes in the box office boom. Imax China stock climbed by 31% to HK$18.36 per share at the close of trading. Alibaba Pictures managed an even greater 35% jump to HK$1.44 per share.
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Mainland China stock markets remain closed until Thursday due to the continuing holiday period. That means there was no trade in the stocks of other companies involved in the box office scramble: Huayi Brothers (“Yin Yang Master”), Enlight Media (“Endgame”), Wanda Film (China’s largest exhibition chain and producer of “Detective Chinatown”) and exhibitor and distributor China Film Group.
China Box Office Hits Huge $775 Million Holiday Weekend, Led by $424 Million Detective Chinatown Debut
Rebecca Davis, provided by
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China made history this weekend with record ticket sales of nearly $775 million (RMB5.0 billion) within the first three days of the Chinese New Year holiday, led by an incredible $424 million (RMB2.74 billion) debut from “Detective Chinatown 3.”
This marked the first time the country’s national box office has ever broken RMB1 billion ($155 million) a day for three consecutive days, a feat achieved despite caps on max theater capacity at 75% in most of the country and 50% in areas particularly at risk for COVID-19, such as the Beijing-adjacent Hebei province.
Time to usher out 2020
Dec. 25, 2020
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VIRUOSI CONCERT: Aymeric Dupre la Tour, seen here in 2015 at First Church Congregational in Fairfield, will perform Mozart’s Piano Concerto No. 9 “Jenamy” as the Connecticut Virtuosi Chamber Orchestra presents “Virtuosi Christmas Concert A Traditional Holiday Celebration of Joy and Beauty’’ on Sunday, Dec.r 27, at Trinity-on-Main in New Britain and Facebook Live at 5 p.m. For the livestream, go to the Virtuosi Christmas Concert-Facebook Live page.Meg Barone / Contributed photoShow MoreShow Less
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AT ELY CENTER: Melanie Carr’s “Shrouded Truth” is part of the Ely Center of Contemporary Art’s exhibition Solos 2020, in which six artists’ works from the 2020 Open Call are spotlighted. The 51 Trumbull St., New Haven, gallery’s winter hours are Sundays and Mondays 1-4 p.m. and Thursdays 1-5 p.m.Ely Center / Contributed photo /Show MoreShow Less