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Frater Asia
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Frater Asia
Wanda Film
China
Wanda Film To Be Quizzed by China Stock Regulators
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variety.com
variety.comBy Patrick Frater Asia Bureau Chief Wanda Film, China’s largest cinema chain, recently unveiled grand plans to build a further 162 new multiplexes over the next three years.
That is in addition to the 73 it built in 2019 and the more than 600 it has in current operation. But China’s market regulators at the Shenzhen Stock Exchange were not impressed.
They have given the company a week to explain the details of its recent $834 million of asset impairments and its current liquidity position, according to specialist financial media, Caixin.
That follows colossal losses of $664 million in calendar 2019, and the prospect of $92 million further losses in the first quarter of 2020.
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