Date
20 August 2017

Huayi Brothers expects 160% rise in net profit, filing says

Huayi Brothers Media Group Corp. (300027.CN) expects to record net profit of at least 635 million yuan (US$105 million) for 2013, up 160 percent year on year, according to a regulatory filing Monday. The projections are based on unaudited data. The company credits the good performance to box office success with movies such as “Journey to the West: Conquering the Demons”, gains from its major businesses and the sale of part of its stake in mobile game developer Ourpalm Co. Ltd. (300315.CN). The company earned 3 billion yuan at the box office in 2013, 42.86 percent more than the 2.1 billion yuan it took in a year earlier, according to the filing.

– Contact HKEJ at [email protected]

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