Huayi Brothers No Longer China’s Largest Privately-Owned Film Company

The company’s share price is now worth less than 5 percent of its IPO

(L-R) James Wang, chief executive officer of Huayi Brothers Media Corp., director Zhangke Jia, and Zhao Tao attend the Huayi Brothers At 20 Party during the 67th Annual Cannes Film Festival at L'Observatoire Francesco Smalto on May 18, 2014 in Cannes, France. Michael Buckner/Getty Images for Variety

After five consecutive years of losses, Huayi Brothers Media Corp., widely known as China’s largest private entertainment group, on Aug. 26, reported an accumulated loss of over 6.6 billion yuan (about $990 million).

The company has produced some of the most successful films in China, such as “Cell Phone” (2003) and “If You Are the One” (2008). In the firm’s golden age, famous Chinese and Hong Kong celebrities like Carina Lau, Liang Jiahui, Fan Bingbing, and Huang Xiaoming were all under its banner.