China's Huayi Brothers Predicts Profit of $136 Million for 2015
The leading Chinese studio has an ongoing production pact with Bob Simonds' STX Entertainment.
Leading Chinese film studio Huayi Brothers Media has predicted profits ranging from $136 million to $164 million for 2015.
The estimate was included in a regulatory filing issued by the company on Tuesday. Huayi's full-year earnings are expected sometime next month. The forecasted range straddles the company's 2014 profits of $143 million.
Huayi scored two hits in the latter half of 2015: crime drama Mr. Six ($135 million) and adventure fantasy flick Mojin: The Lost Legend ($254 million).
In a separate statement released this week, Huayi Brothers said company co-founder and chairman Wang Zhongjun will buy back shares in the company worth $76 million (500 million yuan) over the coming 12 months. Huayi Brothers Media is traded on the Shenzhen stock exchange.
Huayi Brothers's reach now extends into Hollywood. The studio has an ongoing agreement with Bob Simonds' STX Entertainment to make 18 mid-budget, English-language films.