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BEIJING, April 29 (Xinhua) -- Huayi Brothers Media Corp., a Shenzhen-listed major Chinese film studio, reported a loss of 1.09 billion yuan (about 162.43 million U.S. dollars) in 2018.
In its annual financial report released Saturday, Huayi said the loss came after a net profit of 828.28 million yuan in 2017.
The company explained that the loss was resultant as several films missed box office expectations and it invested in a number of domestic and foreign entertainment companies in the past year.
Meanwhile, revenue of the film studio reached 3.89 billion yuan in 2018, down 1.4 percent from the year before.
