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Yu Dong, CEO of Bona Film, the third largest private film production company in China, took part in a teleconference with Chen Yongxiong, COO of Bona Film, and Xu Xiaowen, CFO of Bona Film, shortly after the release of the company's annual results which revealed that Bona Film experienced a net loss of US$1.3 million in 2012, imeigu.com reports.
During the conference, the three individuals shared their views of the Chinese movie industry and elaborated upon the corporate plans of Bona Film for 2013.
Yu said that the Chinese film market has raked in 5.2 billion yuan in the first quarter of 2013, marking a new record compared to previous years. A total of 20 billion yuan in revenue is expected for the entire industry by the end of 2013 and Bona Film forecasts that they will achieve a profit of 1.3 billion yuan (about $210 million) for the year.
The company will invest in 10 to 15 movies and 100 episodes of television dramas each year. However, despite revealing the plans to invest, the company was unable to forecast the rate of return for movie investment. Xu Xiaowen stated that the production company has signed contracts to build six cinemas in 2013.
By Chen Nan
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