, the country’s leading online ticketing provider, has posted its interim financials for the first half of a pandemic-disrupted 2020, with the company swinging to a loss of RMB 430.7M , compared with a profit of RMB 257.4M in the same period last year.
When cinemas closed in January, not long ahead of the crucial Chinese New Year holiday box office period, Maoyan processed refunds for five million tickets, equating to more than RMB 200 , it said. Despite the downturn, the company says that “the Chinese movie industry has shown remarkable resilience” and that, with box office now growing steadily, there is “strong confidence” for recovery. It added that it plans to upgrade its content producing capabilities and expand its online business model moving forward.