China's Huayi Brothers Reports $565 Million Loss for 2019, Removes CEO Jerry Ye
Chinese film studio Huayi Brothers Media reported a whopping loss of $565 million (RMB 4 billion) for 2019, down considerably from a $155 million loss recorded in 2018. The company, founded in 1994 by brothers Wang Zhongjun and Wang Zhonglei, chairman and vice chairman, respectively, is one of China's oldest and most influential private film studios.