SOURCE / ECONOMY By Global Times Published: Feb 02, 2021 02:58 PM People watch a movie at the reopened Capital Cinema (Xidan branch) in Beijing, capital of China, July 24, 2020. (Xinhua/Peng Ziyang) Several Chinese filmmakers have preannounced their 2020 financial results, with heavy losses across the board after being hit badly by the Covid-19 pandemic, and Wanda Cinemas posted the largest loss of 7 billion yuan ($1.08 billion). Wanda's over 600 cinemas were suspended for nearly half a year last year, which is a fall-out of the pandemic. Although the industry has been gradually recovering since July 20, there is still a distance to travel before returning to pre-virus levels due to existing anti-coronavirus measures and lack of high-profile movies, said Wanda Cinemas. It said that its film business in Australia was also impacted by the outbreak.