BRIEF: Shares of ‘Nezha’ maker Enlight Media take breather after tripling
Shares of Beijing Enlight Media Co. Ltd. (300251.SZ) fell on Monday, breaking a streak that saw them more than triple over the previous nine trading days on the huge success of its animated film that has broken box office records during the Chinese New Year period.
Enlight Media’s Shenzhen-listed shares dropped 14.6% during the Monday session, ending at 29.66 yuan. But even after that decline, the stock is roughly triple its close of 9.50 yuan on Jan. 24, the first day of its rally just before the weeklong Chinese New Year holiday.
Enlight’s blockbuster movie “Nezha 2” passed a major milestone on Monday when it entered the list of the world’s top 10 highest grossing movies of all time. As of Monday, the film had earned 12.05 billion yuan ($1.66 billion) at the box office, making it the first Asian film to enter the global top 10, according to a report in the Global Times.
The film has earned most of its money so far in China, where audiences are familiar with its central character, a mythical demon child named Nezha. It began screening outside China in North America over the weekend and was being released in 770 theaters in the U.S. and Canada, according to the Global Times.
“Nezha 2” is now the second-highest grossing animated film of all time, behind only another sequel, “Inside Out 2.”
By Doug Young
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