In a regulatory filing, the company warned of net losses reaching between RMB 580 million – RMB 660 million for the six months to June. That compares with a net profit of RMB613 million $90.8 million in the equivalent period last year.
The company forecast better times ahead, noting that more than 80% of its cinemas nationwide had reopened by the end of the first half and that cinemas in Shanghai were operating from July 8. Film distribution is also picking up.
In communistic society, only less than 10% gross margin could survive unless one of your major shareholder is the communist party
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