Chinese film studio Huayi Brothers Media reported a whopping loss of $565 million (RMB 4 billion) for 2019, down considerably from a $155 million loss recorded in 2018.
The company, founded in 1994 by brothers Wang Zhongjun and Wang Zhonglei, chairman and vice chairman, respectively, is one of China's oldest and most influential private film studios.
It also boasts a range of ties to Hollywood, including a past slate financing deal at STX Entertainment, a major investment stake in the Russo brothers' startup studio AGBO, and plans to co-finance Roland Emmerich's upcoming sci-fi film Moonfall.