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Hong Kong Cinema Chain UA Files for Voluntary Liquidation


Hong Kong Cinema Chain UA Files for Voluntary Liquidation
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UA Cinemas, one of Hong Kong’s leading movie theater operators, has collapsed. The company said on Monday morning that it had applied for voluntary liquidation.
“UA Cinemas has always been committed to providing the highest quality of cinematic entertainment to all audiences in Hong Kong since it was founded in 1985 by Mr. Ira Kaye. However, we regret to announce that UA Cinemas will cease business with immediate effect from 8 March 2021 due to unavoidable and devastating pressure faced by our operators since the beginning of the coronavirus pandemic. We would like to thank our colleagues, customers and business partners for their support with UA Cinemas over the past 36 years. Thank you everyone for taking the journey with us. To comply with the statute and to protect the interest of all shareholders, UA Cinemas has commenced winding up procedures with t ....

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Lunar New Year Box Office Boom Lifts Movie Sector Shares in Hong Kong


Lunar New Year Box Office Boom Lifts Movie Sector Shares in Hong Kong
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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 G ....

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