Stephen Chow's Bao Gao Group Sells Mainland Cinema Business for HK$1

Bao Gao Group (比高集团), the cinema venture of filmmaker Stephen Chow, announced on October 6 that its wholly-owned subsidiary Waishing Limited will sell the entire issued share capital of its cinema subsidiary, Bao Gao Cinema Investment Limited, to an independent individual buyer for HK$1. After the deal, the company will no longer operate any cinema business and expects to book a gain of about HK$5.4 million on its accounts. The company said proceeds from the sale are intended to be used as general working capital. The symbolic HK$1 price marks the end of the group's roughly 15-year cinema venture in mainland China.

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