Movies making money for investors
Print Edition
INVESTORS in Chinese films have enjoyed substantial gains in the stock market over the past three weeks.
Shares in Lugang Science and Technology Co have jumped about 63 percent since the July 10 debut of “Monkey King: Hero Is Back,” the 3D spectacular it funded.
The film has taken in 650 million yuan (US$106 million) at the box office, overtaking “Kung Fu Panda 2” as China’s most successful animated movie.
Lugang, a textile producer based in east China’s Jiangsu Province, acquired its maker, Century Great Dragon, last year.
“The dazzling performance of the Monkey King has greatly enhanced our reputation and increased the company’s profits,” a Lugang spokesman said.
Another Chinese movie, “Monster Hunt,” has raised the share price of its backer, tourism company Beijing Culture, by 25 percent in the past seven trading days.
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