2010-03-25 11:37

Huayi Brothers Media Corp has announced a hefty dividend plan after its net profit grew by 24.22 percent year-on-year to 84.55 million yuan and revenue rose by 47.59 percent to 604.14 million yuan, the company said in its annual report Thursday.

Under its dividend distribution plan, the film producer is to offer investors three yuan (tax included) and 10 shares for every 10 shares of its 168 million shares, which equal to 50.4 million yuan in cash and 168 million shares.

Wang Zhongjun and Wang Zhonglei, the brothers who founded the company, will receive 17.34 million yuan in cash and another 57.8 million shares in total.

Jack Ma, Alibaba Group's founder and chairman, will get 4.15 million yuan and 13.82 million shares, and film director Feng Xiaogang will pick up 864,000 yuan and 2.88 million shares.

The privately-run media conglomerate is to release eight films this year, and plans to build six to eight theaters with 130 million yuan, according to the annual report.

Huayi Brothers was listed on the growth enterprise board ChiNext of the Shenzhen Stock Exchange on Oct 30, 2009.

State-run film producer and distributor China Film Group Corp has resumed plans for a domestic stock listing this year, according to media reports Wednesday.

China's box office reaches 6.2 billion yuan in 2009, ranking among the world's top 10 movie markets, the State Administration of Radio, Film and Television said earlier this year.