China’s Bona Film Group, producer of such hits as The Battle At Lake ChangjinOn Thursday,, made its debut on Shenzhen’s stock exchange, closing at RMB 7.24 ($1.07). This represented a 44% rise in shares from the initial public offer price of RMB 5,03 ($0.74) each share, and put the market capitalization just below RMB 10B ($1.47B). AccordingThe South China Morning Post. From the deal, the company raised RMB 1.38B ($203M).
After exiting the Nasdaq in 2016, Bona was reintroduced to the China Exchange. It was the first Chinese film studio that traded on the Nasdaq in 2010, and it has been back since then.
During the pandemic, Bona was behind China’s top-grossing movie ever, The Battle At Lake ChangjinAnd its sequel The Battle At Lake Changjin II (aka Water Gate Bridge). The patriotic films collectively grossed RMB9.83B (or 1.45B at current exchange rates) in China.
In an interview posted to Bona’s website earlier this week, Chairman and founder Yu Dong, who controls a 20.5% stake in Bona, said, “In April 2016, I officially bid farewell to the Nasdaq and embarked on the road to return to A shares. On the way back, we have walked for more than seven years, it has been really hard. Although it has been a long time, it does not affect the development of Bona Films, nor does it affect the filmmaking of Bona Films, because focusing on the main business is the innate gene of Bona Films.”
Yu said, “Looking ahead, Yu added. “In the next 15 years, we will attract global talents and make good use of capital to make good Chinese stories… Only with the help of capital can Chinese films continue to be supplemented and expanded, with more funds to shoot better films, attract global talents to tell Chinese stories well, and expand our influence to the world.”
China’s box office has had a rough year. It started slow after a Covid spike, which forced the closures of two Chinese cities earlier in the year. Per state media, however, the period has now edged last year’s three-month tally with RMB 7.382B ($1.09B) as of Saturday. Contributing to the rebound were Universal/Amblin’s Jurassic World DominionWith a value of $157M, it was the largest import of the year. Light Up the Stars(RMB 1.7B/$250M). Moon ManThrough Wednesday, (RMB 2.54B/$374M). Universal/Illumination’s Gru’s Rise: MinionsTomorrow opens