Jul. 13, 2012 (China Knowledge) - Huayi Brothers Media Corp, the largest movie studio in China, expects its net profit to grow between 50% and 70% YoY to RMB 95.47 million and RMB 108.2 million in the first half of this year.
company attributed the strong growth in net profit due to the steady development of its core business, the large increase in foreign investment income and good box-office results for its new movie, Painted Skin 2.
As of July 8, the Painted Skin 2 had generated about RMB 530 million in box-office tickets since it first released on June 28, 2012.
Last year, the movie studio saw its operation revenue decline 16.73% YoY to RMB 892 million. However, its current net profit could grow 36% from a year earlier to RMB 203 million.