China’s Huayi Bros. Marks Third Year of Losses, Despite Delivering the Highest Grossing Film of 2020
Rebecca Davis editorHuayi Brothers, China’s longest-standing privately-owned production film studio, has notched its third consecutive year of losses despite producing the world’s highest grossing film in 2020, its annual report showed.The company’s revenues for 2020 fell by 33% year-on-year to $232 million (RMB1.5 billion) while net losses hit $162 million (RMB1.05 billion).