165438+1October 2 1 Emperor Cultural Industry Group Co., Ltd. announced that Emperor Entertainment Cinema Co., Ltd. voluntarily submitted an application for bankruptcy liquidation to the court, closed seven chain stores and withdrew from the mainland. Up to now, King UA Studios has a history of eight years in the Mainland. Bankruptcy in this short period of eight years can only show that the financial situation of cinemas has been seriously problematic. In recent years, cinemas in the mainland have emerged one after another, and consumers have more choices for viewing places, which reflects the increasingly fierce market competition. If the cinema doesn't have obvious advantages, it can't attract guests. In addition, due to the epidemic situation, the operating conditions of many cinemas are not optimistic.

The COVID-19 epidemic has been going on all over the world for three years. In the past three years, due to the serious local epidemic, many cinemas have been closed, and even in some areas, epidemics will occur at intervals. This situation has severely hit the operation of many cinemas, especially some cinemas in high-risk areas are facing serious losses. The cinemas are empty, so they can't pay the rent and labor costs without income, which also leads to the closure of many cinemas.

According to the current situation, operating a cinema will indeed lead to losses. Uncertainties have caused many investors to lose their attention to cinemas and invest in other projects. This has also ushered in a cold winter for the development of cinemas, just like the withdrawal of King UA Studios from the mainland, which is also a choice after considering many factors. It is believed that the cinema industry will also usher in a new turning point after the epidemic. I believe that the income of cinemas will improve at that time, and King UA Studios will still return to the mainland to operate.