On September 6th, sources say MaHua FunAge is seeking to be listed in the US, after a failed attempt to be listed as China A-Shares.
MaHua FunAge is a Beijing-based comedy film and stage play production company founded in 2003. The company has been listed on China’s OTC market, National Equities Exchange and Quotations (新三板), in the wave of the 1.4 billion RMB box office success of its hit comedy Goodbye Mr. Loser (夏洛特烦恼) in 2015. Since then, MaHua FunAge’s valuation has shot up a staggering 16.7 times from 0.3 billion to 5 billion RMB. The company filed applications to be listed as China A-Shares a year and a half later but failed due to the unstable nature of its cash flow.
In 2017, MaHua FunAge produced another blockbuster movie Never Say Die (羞羞的铁拳) which brought in 2.2 billion in box office. However, its latest movies received mediocre responses and growth of its stage play revenue is slowing down as well.
On December 12th, Tencent Music Entertainment Group's Kugou Music and Ultimate Music jointly announced a strategic collaboration a标签：karaoke, smart TV, tme 2021-01-06
Copyright © 2015 China Music Business News