China's Jingxi Culture & Tourism Shares Spike After Box Office Hit
Tang Shihua
DATE:  Feb 11 2019
/ SOURCE:  yicai

 (Yicai Global) Feb. 11 -- The stock of Beijing Jingxi Culture & Tourism traded vigorously this morning after a film it invested in became the nation's hottest box-office sensation during China's one-week Spring Festival holiday.
 

Its shares [SHE: 000802] traded at 14.51 yuan as of 10.30 a.m. -- 10 percent higher than its closing price before the vacation -- to hit the daily 10 percent limit up the exchange imposes. 
 

Hailed as the first hard sci-fi film produced by China, The Wandering Earth has emerged as the most stellar cinematic attraction during the country's Spring Festival, garnering 1.45 billion yuan (USD210 million) five days after hitting screens. It had already snatched over CNY2 billion as of Feb. 10 and may eventually crest the CNY4 billion threshold, according to sector estimates.
 

As a major investor in the film, Jingxi Culture & Tourism contributed about CNY108 million (USD16 million) of the 300 million total, per public data on the cinema sector.
 

The film is based on a novel of the same name by Liu Cixin, China's first Hugo-Award winning writer. The storyline is of an Earth in peril from a dying sun. Humankind tries to shift the blue planet out of the solar system, together with its inhabitants.

Editor: Ben Armour

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Keywords:   Box Office Hit,The Wandering Earth,Jingxi Culture & Tourism