Top 10 cultural events in China in 2009
- By Pang Li and Zhang Rui
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E-mail China.org.cn, December 31, 2009
Huayi Brothers was listed
On October 30, 2009, Huayi Brothers became the first entertainment company listed in China's domestic stock market. Its share price skyrocketed on the first day, with a staggering 147.76 percent increase. As a result, some artists who happened to hold its shares became millionaires overnight, including director Feng Xiaogang, actor Huang Xiaoming and actress Li Bingbing, among many others. On the second day, however, the company saw its shares plummet. Ever since, its shares have not performed well.
Nevertheless, as the largest privately-owned entertainment company in China, Huayi Brothers' listing was a landmark event in China's entertainment industry. It is open to investment from the entire capital market, not just individual investors, therefore creating a new business model in China.
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