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2021-07-28
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IMAX China Reports Half-Year 2021 Financial Results
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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIMAX China Reports Half-Year 2021 Financial Results\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-28 08:57 GMT+8 <a href=https://finance.yahoo.com/news/imax-china-reports-half-2021-002700006.html><strong>PR Newswire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>GREATER CHINA HIGHLIGHTS\n(Note: Percentage and other changes refer to first-half 2020 unless otherwise noted)\n\nA profitability turnaround to US$21.3 million adjusted net profit, compared to US$15.5 ...</p>\n\n<a href=\"https://finance.yahoo.com/news/imax-china-reports-half-2021-002700006.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IMXCF":"IMAX China Hldg Inc","01970":"IMAX CHINA","IMAX":"Imax Corp"},"source_url":"https://finance.yahoo.com/news/imax-china-reports-half-2021-002700006.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2154943651","content_text":"GREATER CHINA HIGHLIGHTS\n(Note: Percentage and other changes refer to first-half 2020 unless otherwise noted)\n\nA profitability turnaround to US$21.3 million adjusted net profit, compared to US$15.5 million net loss in prior year period.\nIMAX China delivered a strong revenue rebound to US$53.4 million for the first half of 2021, up from US$6.7 million a year ago, including technology sales and maintenance revenue of US$31.7 million, 25% higher than that of first-half 2019.\nThe IMAX China network reached 759 systems as of June 30, 2021. Including 237 in the backlog, Greater China contracted network reached close to a 1,000-theater milestone.\nApproval of an interim dividend of approximately US$9.7 million (US$0.028 per share), up from US$7 million historically on an increased payout ratio of 50%.\n\nSHANGHAI, July 28, 2021 /PRNewswire/ -- IMAX China Holding, Inc. (\"IMAX China\" or the \"Company\", HKSE: 1970) today reported half-year 2021 Greater China revenue of US$53.4 million, up from US$6.7 million a year ago, driven by strong year-over-year recovery in box office and increased installation activities. Adjusted net profit reached US$21.3 million, compared to US$15.5 million net loss in first-half 2020. For adjustments to profit (loss) for the period and a full detail of financial results, please refer to the interim results announcement posted with the Hong Kong Stock Exchange or on the Investor Relations section of the IMAX China web site (http://www.imax.cn/investor).\n\n\"Our strong first-half revenue and earnings rebound to levels approaching that of 2019 underscores the rising value of IMAX to Chinese consumers, filmmakers and exhibitors,\" said Richard L. Gelfond, Chairman of IMAX China. \"A year into reopening, we are pleased to see the accelerating shift to theatrical blockbusters and increasing involvement of IMAX DNA in content production has further strengthened IMAX China's positioning in the post-pandemic entertainment ecosystem. Our record local language box office demonstrates our opportunity to gain further market share as local content gravitates towards high production value genres. We look forward to building on the momentum as we capitalize on a strong pipeline of blockbusters, both Hollywood and local language, for the rest of the year and into 2022,\" said Mr. Gelfond.\n\"We started off 2021 on a strong note with record-breaking New Year's Day and Chinese New Year opening weekend box office, continued network growth and expansion in new theater signings,\" said Edwin Tan, CEO of IMAX China. \"IMAX China has become the go-to entertainment choice as consumers increasingly seek for premium experience and exhibitors look to differentiate their offerings. Our growing indexing across both Hollywood and local language blockbusters gives us greater confidence in our continued market share gain as major Hollywood tentpoles return to theaters starting second-half of the year.\"\nIMAX China Dividend \nIMAX China today announced that its Board of Directors approved the payment of an interim cash dividend of US$0.028 per share, or approximately US$9.7 million in total, based on the total number of shares in issue as of June 30, 2021. The dividend payment is based on an increased payout ratio of 50% of net income from 2021 onwards, up from 33% during the pre-COVID years of 2017 to 2019.\nNetwork Update\nThe Company delivered further network expansion with a total of 759 systems in the IMAX® theatre network in Greater China as of June 30, 2021, of which 384 operate under full revenue sharing arrangements, 108 under hybrid revenue sharing arrangements and 267 operate under sales arrangements. The Company installed 23 new and upgraded theater systems during first-half 2021, compared to 3 installations in first-half 2020.\nThe Company signed agreements for 12 theater systems during first-half 2021, bringing total backlog to 237 systems as of June 30, 2021. Signings were headlined by a four Laser theater deal with Broadway across iconic commercial locations in Shanghai.","news_type":1},"isVote":1,"tweetType":1,"viewCount":200,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":12,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/803699710"}
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