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Asia Minute: Chinese Metals Company Latest Player in Hollywood

hashi photo
CC BY 3.0 / Wikimedia Commons

Chinese investment capital is continuing to shape the economic future in many parts of the world. On O‘ahu, China Oceanwide Holdings has already spent hundreds of millions of dollars on property investment at Ko Olina and Kapolei West. And this week, there’s a new and unusual Chinese player in Hollywood. HPR’s Bill Dorman has more in today’s Asia Minute.

Hollywood assets are some of the hottest investments on the planet for Chinese companies.

This week, an industrial firm in eastern China plunked down about $360 million for an 80% stake in a U.S. independent film company.

Anhui Xinke New Materials is a metals company.

It rolls copper and nickel into thin strips, which then go into components used by automakers and the electronics industry.

It will be getting into a new line of work with the purchase of the majority stake of “Midnight Investments”—whose “Voltage Pictures” subsidiary has produced Oscar-winning pictures including “Dallas Buyers Club” and “The Hurt Locker.”

Chinese companies have been on an extended shopping expedition when it comes to the American movie business.

Four years ago, Dalian Wanda paid more than 2 and a half billion dollars for AMC Entertainment. Now the largest theater chain in the United States.

Earlier this month, Dalian Wanda announced it was spending about a billion dollars more to buy Dick Clark Productions.

And last month, the Chinese e-commerce company Alibaba said it was investing in Steven Spielberg’s Amblin Entertainment.

By the way, that metals company making the latest investment could use some help.

The Wall Street Journal reports the company lost nearly $9 million in the first half of this year.

Bill Dorman has been the news director at Hawaiʻi Public Radio since 2011.
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