(Yicai) Oct. 29 -- China Film Group, the production company behind top-grossing movie Dead to Rights, a historical drama set against the backdrop of the Nanjing Massacre, has reported a nearly 15-fold surge in net profit for the third quarter.

Net profit was CNY176.7 million (USD24.9 million) in the three months ended Sept. 30, the Beijing-based company’s earnings report showed yesterday. Revenue jumped 36 percent to CNY1.2 billion (USD168.7 million).

But the report also showed that net profit across the first three quarters had slumped 69 percent to CNY66.4 million (USD9.4 million) due to a sharp decline in business performance in the first half. Revenue fell 2.9 percent to CNY2.9 billion.

Dead to Rights has been a massive hit with audiences, taking CNY3 billion (USD422.6 million) at China’s box office, the most of any movie between June 1 and Aug. 31. The film will also represent the Chinese mainland in the Best International Film category at next year’s Academy Awards, China Film noted.

The company’s shares [SHA: 600977] ended 1.9 percent higher at CNY14.51 (USD2.04) each in Shanghai today, bringing the gain since the end of last year to 25 percent.

Domestic films have increased in popularity this year, with other hits including animated movie Ne Zha 2. Total box office takings climbed 21 percent to CNY42 billion (USD5.9 billion) in the first three quarters from a year earlier, with 89 percent earned by domestic movies, up around 10 percentage points on last year, according to the China Film Administration.

China Film, the nation’s largest movie producer, was involved with 30 flicks that hit cinemas in the first nine months of the year, grossing CNY12.3 billion (USD1.7 billion), or a third of the total for China-made movies, its financial report said.

The company is also involved in distribution as well as investing in and operating movie theaters. It led or played a role in the distribution of 336 domestic movies and distributed 117 imported films in the first three quarters.

As of the end of last month, cinemas backed by the firm operated 25,268 screens, accounting for 31 percent of the national total, and had a combined 3.1 million seats, the report said.

Editors: Dou Shicong, Tom Litting