Bona Film Group to open 3D production base in Tianjin

12 May 2012 21 h 33 min Comments Off

China’s Bona Film Group has unveiled plans to set up a 3D production centre in the city of Tianjin where it will produce Tsui Hark’s upcoming 3D projects “Tracks In The Snowy Forest” and “The White-Hair Witch”.

Bona has signed with the Sino-Singapore Tianjin Eco-city to set up an operation centre in its “National Animation Industry Compound”. The new digital film technology centre in Tianjin is a partnership with Flying Swords director Tsui Hark.

“We plan to produce two to three 3D films in 2012,” said Bona CEO Yu Dong, speaking in Tianjin, a city 110 km southwest of Beijing.

Tsui’s 3D Flying Swords Of Dragon Gate, produced by Bona, grossed $71m (RMB450m) in China in 2011.

In addition to the 3D production centre, Bona will also set up film production, distribution, theatre management and artist management centres in the compound.

“Tracks In The Snowy Forest” will be directed by Tsui, while “The White-Hair Witch” (a 3-D update of the “The Bride With White Hair” 1993) will be produced by Tsui and Huang Jianxin and directed by Jacob Cheung.

Bona COO Jeffrey Chan said that it is currently too early to say whether the two new 3-D films will also be presented in IMAX format. “IMAX keeps a very close eye on Bona’s production slate and very much wants to do more Chinese movies, but no decision has been taken on these two yet,” he said.

Upcoming productions

Bona’s upcoming production slate also includes gangster thriller “The Last Tycoon”, starring Chow Yun-Fat and Sammo Hung; Charlie Yeung’s “Christmas Rose”, produced by Tsui Hark and starring Aaron Kwok, and “Overheard 3″.

“We also plan to increase the number of imported films we distribute, given the success of the 2011 US action thriller Source Code,” Yu said.

For the second quarter of 2012, Bona plans to distribute” The Three Musketeers” in China from May 15, followed by Malaysian animated film “Seefood”.

126.8% growth of net revenues in Q1 12

The NASDAQ-listed Bona Film Group also announced its first quarter results today. Net revenues in the first three months of 2012 were $43.7m, an increase of 126.8% from $19.3m in the first quarter of 2011. First quarter gross profit was $20.8m, an increase of 122.0% from $9.4m in the first quarter of 2011.

Bona also announced that it has appointed Amy W. Xu to succeed Mason Xu as the company’s chief financial officer, effective June 1, 2012.

Source: Chinese Films, Screen Daily (11/05/2012)

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