Huayi Brothers Media has announced that it has acquired 20% stake of Jiangsu Yaolai Cinema Management Company with 210 million yuan, through its subsidiary company Huayi Interactive Entertainment.
Jiangsu Yaolai Cinema Management Company operates 12 theatres across the Chinese mainland, which seperately located in Beijing, Guangzhou, Xi'an, Shenyang, Tianjin, Zhengzhou, Changzhou, Hefei, Kunming and Yantai. Among them, Jackie Chan Cinema (based in Beijing), has ranked atop at both the box office chart and the admissions total in terms of single theatre's records. Its net profit in the first half of 2013 was 26.26 million yuan, and the annual total might reach at least 70 million yuan.
Huayi Brothers has been investing in theatres for a while. With 15 theatres open currently, its total income added more than 100 million yuan in the first half of 2013.