National Business Daily reported on Tuesday that China’s top moviemaker Zhejiang Huace Film & TV (Huace), which jointly produced the South Korean popular TV series Descendants of the Sun with Next Entertainment World (NEW), has seen a boom in viewership following its broadcast. Huace’s shares closed higher on Tuesday.
NEW is South Korea’s top moviemaker.
As a comprehensive film and TV media group, Huace Film & TV is focused on producing, distributing and investing in film and television dramas.
In 2014, Huace paid RMB 314m for a 13.03% stake in NEW following the booming popularity of South Korean pop culture in China. Huace is now NEW’s second largest shareholder and in 2015, both sides invested a total of RM B40m in a joint venture in which Huace holds a 50% stake. The joint venture is involved in the creation and production of movies and TV series.
Analysts say that the success of Descendants of the Sun reflects Huace Film & TV’s excellence in movie production.