IMAX China's 2024 profit falls amid box office slump
** IMAX China Holding Inc. (HKEX: 1970) reported a profit of US$22.2 million for the year ended December 31, 2024, down from US$27.5 million in the prior year. The decline in profitability reflects a 6.9% drop in revenue to US$81.0 million, primarily due to a 39.2% decrease in Content Solutions revenue, driven by weaker IMAX box office performance. Technology Products and Services revenue increased 5.9% to US$64.5 million. The company noted improved efficiency drove a 27.6% reduction in selling, general, and administrative expenses. IMAX China ended the year with 809 IMAX theaters in Greater China and a backlog of 237 systems. The board has resolved not to declare a final dividend for 2024. The company also noted that its controlling shareholder, IMAX Corporation, reported its Q4 and full-year 2024 results, noting strong gains in its overall global network, with momentum building in China in early 2025 after a strong Chinese New Year.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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