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Written by: Chen Shuxia
2021-03-09 16:51
Last update date: 2021-03-09 16:53
UA Cinemas lost to the epidemic and operating pressure. Yesterday (8th) it was announced that all theaters would be closed from now on. Market news broke out that wealthy businessmen Lin Jianyue and Yang Shoucheng both intend to take over the operation and expand the scale of their cinemas. The theaters of each theater are fighting at any time. It's about to happen.
Lin Jianyue’s MCL cinema line currently has 12 theaters and is still actively expanding its territory despite the adversity. It "started" UA K11 Art House a month ago and will open a new theater next year.
Huang Baozhu, general manager of MCL, said that he would not comment on the takeover of the operation, but indicated that the theater will continue to look for suitable opportunities.
It is also said that Yang Shoucheng's Emperor Cinemas is also seeking to compete; ACX Cinemas, a subsidiary of Honghuan Cultural Communication, also expressed a wait-and-see attitude.
However, Cinema City boss Huang Baiming bluntly said that he has no intention to acquire, but he believes that someone is willing to invest in operating theaters, which is a good thing for the film industry.
▼On March 8th, UA Cinemas announced the closure of all lines▼
General Manager of MCL: Do not comment on rumors
Before the closure of UA, there were a total of 6 theaters operating in Hong Kong. They were located in Times Square in Causeway Bay, Moko in Mong Kok, Amoy Gardens in Kowloon Bay, MegaBox, Tsing Yi City and Citygate.
It has been pointed out that after Lin Jianyue’s MCL theaters purchased the UA K11 Art House theater on a monthly basis, they plan to take over the remaining UA theaters.
Huang Baozhu, general manager of Zhouli Film Arts (MCL), accepted the inquiry of "Hong Kong 01" and said that he would not comment on the rumors, but indicated that the theater would continue to look for suitable opportunities.
She also pointed out that the impact of the epidemic is worldwide, not only for the film industry, but also for all walks of life in Hong Kong. It is hoped that it will return to normal as soon as possible.
Huang Baozhu (left), general manager of Zhouli Cinemas (MCL), said that he does not comment on individual intentions, but the theaters will continue to look for suitable opportunities.
(Profile picture)
Feng Deli, a subsidiary of Lin Jianyue, acquired Universal Asia Group in 2013 and owns MCL cinemas. Currently, there are 12 theaters in total.
Under the adversity, MCL is not afraid of continued expansion in market conditions, and has successfully "planted the flag" in many districts, and continues to move towards the goal of "there are theaters in districts".
According to information, MCL Cinemas first opened the Cyberport Cinemas in June last year. Last month, they acquired UA’s K11 Art house property lease contract and cinema assets for 56 million yuan. On the other hand, MCL will also lease the original property from 2023. The ONE theater on the Broadway theater line.
MCL will also enter Kai Tak AIRSIDE, and the mall will open next month.
Lin Jianyue, Chairman of the Board of Directors of Lai Sun Group.
(Profile picture)
Rumor has it that the Emperor Theatre intends to take over some of the theatres
However, the battle for theaters is also on the verge of breaking out.
It is rumored that the Emperor's cinema chain under Yang Shoucheng also intends to become a "white warrior" and takes over the operation of some of the theaters in UA. The Emperor Theatre is a "rising star" in the local cinema industry. It is led by Yang Shoucheng's youngest son, Yang Zhenglong. The theater base has expanded to 7 theaters in Hong Kong in 4 years.
"Hong Kong 01" has made enquiries to the Emperor Theatre and is awaiting reply.
For UA’s original cinema, potential buyers still have ACX Cinemas.
ACX Cinemas, a subsidiary of Honghuan Cultural Communication, opened at the end of November last year in Xindi Beijiaohui. The spokesperson pointed out that after knowing all the details, he would consider whether to take over some of the theaters.
Huang Baiming: It's a good thing that someone is willing to invest
In the second half of last year, Cinema City owner Huang Baiming, who took over the Kowloon Bay Star Cinemas in the second half of last year, said that he has no intention to negotiate the purchase of UA Cinemas.
He also pointed out that the epidemic has had a great impact on the film industry. Even if the resumption of business is allowed, there are still restrictions on the operation of theaters. Moreover, movies cannot be "packaged" for takeout like restaurants. Go as soon as possible, "I hope tomorrow will be better."
Regarding the rumor that Lin Jianyue and Yang Shoucheng intend to take over the UA theater, Huang Baiming said, "Some people resigned and returned to their hometowns, and some missed the night to rush to the examination room."
He believes that when there is a shortage of cinemas in Hong Kong, it is a good thing for some people to invest and jointly maintain the ecology of the film industry.
Cinema City currently operates 6 cinemas in Hong Kong.
Huang Baiming said.
No intention to take over UA Cinemas.
(Profile picture)
▼The epidemic is repeated, social distancing measures will continue for a week starting from March 4▼
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