Huayi Brothers doubled profits during H1
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Xinhua, August 11, 2011
China's Huayi Brothers Media Corporation earned a net profit of 63.64 million yuan (9.87 million U.S dollars) in the first half of this year, a year-on-year growth rate of 125.09 percent, according to its semi-annual report.
Total revenues in the first half reached 331 million yuan, up 63.24 percent from a year ago, boosted by the fast expansion of the company's film industry ventures.
The company's artist brokerage and other businesses also saw steady increases. The company currently has contracts with more than 100 artists and is operating five cinemas, with another seven still under construction.
Founded in 1994 by Wang Zhongjun and Wang Zhonglei, the company has developed into China's biggest private film producer. It was listed on the Growth Enterprise Market (GEM), a Chinese Nasdaq-style stock market, in the southern city of Shenzhen on Oct. 30, 2009.
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