Poised for Breakup, China’s Alibaba Finishes Year With $10 Billion Profit

Good Morning America” on Tuesday while promoting her new series, “The Crowded Room” on Apple TV+.The actress did have sympathy for Holmes having to leave her two young children. “I feel for those kids,” Seyfried said.

Patrick Frater Asia Bureau Chief The 25th Shanghai International Film Festival, June 9 to 18, has unveiled the titles in contention for awards in its four main feature-length sections: main competition, Asian New Talent, Animation film and documentary. These are eligible for the festival’s prestigious Golden Goblet Awards, winners of which will be announced at the Shanghai Grand Theater on the evening of June 17. While SIFF remains the only mainland China festival to be accredited as a so-called A-list event by the International Federation of Film Producers (FIAPF), its selections are largely separate and distinct from those at other major international festivals.

Patrick Frater Asia Bureau Chief China’s NetEase Games has established PinCool, a Tokyo-based game studio focused on developing titles for game consoles. That is a significant diversification, considering that PC and mobile are the major formats for games play in China. And the company says the company it will also be involved in planning and producing a range of additional forms of entertainment. The new company is headed by representative director and president Ichimura Ryutaro, a 20-year veteran of the games industry and long-time producer of the “Dragon Quest” games franchise. Beyond serving as lead producer for games such as “Dragon Quest VIII: Journey of the Cursed King” and “Dragon Quest IX: Sentinels of the Starry Skies,” Ichimura also led other areas of the Dragon Quest IP franchise including live events and exhibitions.

Patrick Frater Asia Bureau Chief “Fast X” predictably won a second weekend on top of the mainland China box office, driving its total past the $100 million mark. But the disappointing start for Disney’s live-action “The Little Mermaid” was the bigger talking point. “Fast X” earned $17.6 million in China according to data from consultancy Artisan Gateway. That was a 66% drop compared with its opening weekend, but still gave the film a $110 million cumulative after 12 days and has caused estimates to be further revised upwards. Ticketing agency Maoyan is now forecasting that the film will finish with RMB880 million ($126 million), having previously predicted RMB728 million ($104 million), and then RMB840 million.

Emily Longeretta Don’t put Sydney Sweeney in a box — and don’t judge her by her cover. The former is a lesson she’s taught casting directors in Hollywood, the latter is what she learned from her latest role as ex-intelligence specialist Reality Winner. In 2017, Winner was arrested by FBI officers who showed up at her home to investigate her part in the mishandling of classified information. Sweeney portrays the whistleblower in HBO’s new film; the movie’s dialogue is taken directly from the transcript of Winner’s tense conversation with the FBI on the day of her arrest. “Once I met with Reality and I got to know her, she really truly speaks her mind,” Sweeney says of playing Winner. “So everything she was saying in the transcript, she was feeling and thinking. I was able to just find all the different layers underneath it. I truly enjoyed it.”

Patrick Frater Asia Bureau Chief Magic Fair, a Miami-Paris based indie sales company and Hong Kong- and Paris-based All Rights Entertainment have launched rights sales on upcoming feature animation “Pigsy,” directed by Chiu Li-Wei (“Barkley”) during the Cannes Film Festival’s Marche du Film. The film is a reimagining of the classic Chinese tale “Journey to the West.” The story follows a self-absorbed and lazy pig on a journey to lasting happiness. Set in a distant future, the film sees Pigsy embark on a deceitful quest for a better life, only to find that true happiness may be closer than he thinks. The production has recently added Taiwanese stars Greg Han, Liu Kuan-Ting, Harlem Yu, Tuo Tsung-Hua, Chung Hsin-Ling, Ivy Shao, Waa Wei and K.R. Bros. The film is to be completed in time for release at Chinese New Year in early 2024. Production is by the Netherland’s studio Submarine (“Where is Anne Frank,” TV series “Undone” Season 2, “Apollo 10 ½ : A Space Age Childhood”) with Taiwan’s Greener Grass (“GrX”) and Studio2 (“Barkley,” “Get the Hell Out,” “The Tag-Along”).

I Think You Should Leave With Tim Robinson has been shared.The clip for the Netflix series, which you can watch below, shows a variety of bizarre and hilarious short sketches starring comedian and co-creator Tim Robinson plus a mix of new and familiar faces. All six episodes are set to drop on Tuesday (May 30).The new season’s guest stars include Jason Schwartzman, Tim Meadows, Fred Armisen, Sam Richardson, Will Forte, Patti Harrison, Ayo Edebiri, Mitra Jouhari, Tim Heidecker, Beck Bennett, Biff Wiff, Conner O’Malley and Carmen Christopher.The trailer begins with Robinson yelling at a woman at a drive-thru and ends with him freaking out as a man confronts him outside his car window.The comedy series was renewed for a third season last year.The sketch series was created by Robinson alongside Zach Kanin.

Patrick Frater Asia Bureau Chief Mainland Chinese star Wang Luodan (“The Dead End,” “Struggle,” “The Continent”) and Hong Kong-born Bosco Wong (“Lives of Omission,” “Triumph In The Skies”) head the cast of “My Dearest Stranger.” The high-end suspense drama series is a production fronted by mainland Chinese distributor-producer Hishow Entertainment, which announced the production at the Cannes Market, adjacent to the Cannes Film Festival in France. Based on the best-selling novel “Secret Love,” by Fan Shu and adapted by renowned screenwriter Cao Xueping (“Game Changer”), “My Dearest Stranger” tells a compelling story of Yu Xiao, a housewife who realizes her seemingly perfect husband may have a dark side. Yu decides to cooperate with policeman Song Cheng to find out the truth, while trying to keep her own secrets from the world.

Patrick Frater Asia Bureau Chief “Fast & Furious 10” (aka “Fast X”) dominated the mainland China box office with a strong opening weekend and a revved up opening five days. Data from consultancy firm Artisan Gateway shows Fast X scored $51.1 million between Friday and Sunday, to comfortably top the Chinese box office, with a 58% market share. Unusually, the film opened on a Wednesday. Over five days, it accumulated $77.4 million.Imax reported that the film pulled in $8.4 million from China, accounting for 11 of the China market opening, from fewer than 1% of the screens in the market. The figures reflect the five-day score, not the conventional weekend.

Harrison Ford displayed his trademark dry sense of humor during what could have been an awkward moment at the Cannes Film Festival this weekend. During a press conference for his new film, "Indiana Jones and the Dial of Destiny," a reporter commented that Ford was "still very hot," adding "we were stunned to see you take your shirt off in the second scene, it’s just… and you’ve still got it. How do you keep fit? And can you ride a horse?" Ford was exaggeratedly confused, asking about the horse-riding question first, saying he can "if they let me." As for the body comment, Ford said, "Look, I have been blessed with this body." "Thanks for noticing," he added, causing the cast, crew, and audience to laugh and applaud.

Patrick Frater Asia Bureau Chief “In Our Day,” the film by South Korean auteur Hong Sang-soo which closes the Directors’ Fortnight section of the Cannes film festival, has seen distributors in multiple territories move early to strike rights deals. French rights were picked up by Capricci), Spanish rights by L’Atalante Cinema and Greek rights by Ama Films. The film has its official premiere on May 25. Seoul-based Finecut has long been the sales agent for Hong’s plentiful output. In addition to the deals on “In Our Day,” Finecut signed agreements with L’Atalante, with France’s Ariona Films and Taiwan’s Cola Films for “In Water,” Hong’s first film of 2023 which premiered in the Encounters section in Berlin in February. The film was previously sold to Cinema Guild for North America.

Patrick Frater Asia Bureau Chief Returning as an in-person event after cancelation last year, the Shanghai International Film Festival has set out an agenda with a clear focus on China. The festival (June 9-16) will celebrate the 10th anniversary of the Belt and Road Initiative, China’s economic outreach and development program. With a series of press conferences and film culture roundtables, the SIFF’s Belt and Road Film Week will “bring together old friends of the alliance from previous years and new friends made this year [..] and announce an action plan for the future.”

Patrick Frater Asia Bureau Chief More than two million people turned out on Wednesday to watch “Fast X” in Chinese movie theaters, spending a combined $15.3 million on the film on its first day of release. That made the tenth film in the “Fast & Furious” franchise a clear winner at the Chinese box office in an unusual midweek release. And it put “Fast X” on course to be the biggest Hollywood film so far this year in the world’s second largest movie market. Provisional data from local data service Ent Group showed that the film also enjoyed $2.83 million from previews on Tuesday. That gives an estimated $18.2 million total at the end of its first official day of release.

Patrick Frater Asia Bureau Chief China’s entertainment, social media and technology giant Tencent, renewed its profits growth in the first quarter of 2023, after reporting its first decline in 2022. And group revenue beat financial market estimates as China’s post-COVID reopening boosted economic activity. Overall revenues in the three months from January to March 2023 reached RMB150 billion ($21.4 billion), an increase of 11% year-on-year and 3% quarter-on-quarter. Net profits in the period came in at RMB25.8 billion ($3.69 billion), a 10% year-on-year improvement.

Patrick Frater Asia Bureau Chief Net profits at Tencent Music Entertainment, China’s largest digital music operation, grew by 89% in the first quarter of the new year, hitting RMB1.15 billion ($167 million), even as revenue progressed by only 5% to RMB7.0 billion ($1.02 billion). The group, which is backed by Chinese tech and entertainment giant Tencent and has stock market listings on the New York Stock Exchange and in Hong Kong, controls large equity stakes in Spotify and (in a consortium with Tencent) Universal Music Group. Its own music operations divide loosely into two clusters: mass market music streaming, with paid-for and free tiers; and “social entertainment,” including karaoke and other derivative products.

Patrick Frater Asia Bureau Chief iQiyi, the Chinese video streamer that began a turnaround last year, reported further growth in profits in the first quarter of 2023. It said that daily subscription numbers had grown by 17 million in the past three months. Total revenues were RMB8.3 billion ($1.2 billion), increasing 15% year over year, the company said in a regulatory filing on Tuesday that covered the January to March period. Net income attributable to iQIYI was RMB618 million ($90.0 million), compared to net income attributable to iQIYI of RMB169 million in the same period in 2022. The average daily number of subscribing members, excluding trial memberships, for the quarter was 128.1 million, compared to 100.8 million for the same period in 2022 and 110.9 million for the fourth quarter in 2022. Subscription revenue per user was little changed at RMB14.35 ($2.07).

Patrick Frater Asia Bureau Chief Funding from Singaporean state sources is involved in two features that make their debut at the Cannes Film Festival this month. A third film, “The Breaking Ice,” is directed by Singapore-born filmmaker Anthony Chen. “We are absolutely thrilled that we have the most number of Made with Singapore films debuting in Cannes this year,” said Justin Ang, assistant chief executive of media, innovation, communications and marketing at Singapore’s InfoComm Media Development Authority.Malaysian-produced “Tiger Stripes,” which will play in the Critics’ Week section, and Vietnamese-made “Inside the Yellow Cocoon Shell,” which will play in the Directors’ Fortnight section, both received cash injections from the Southeast Asia Co-Production Grant under the ‘Media Talent Progression Programme,’ which is backed by the Singapore Film Commission and the IMDA.

Patrick Frater Asia Bureau Chief Distribution Workshop has picked up international sales duties on “A Legend,” the Jackie Chan -starring film.As previously reported, the film is now in production. “A Legend” is now pitched as a $50 million sequel to the 2005 action romance “The Myth” that involved both Chan and director Stanley Tong. In previous communication, producer Bona Film Group said that the film was inspired by the earlier film. The new picture will be the tenth time that Chan and Tong have worked together, following other titles that include “Police Story 3,” “Supercop” and “Vanguard.”

Patrick Frater Asia Bureau Chief The Hong Kong Disneyland theme park managed a 22% increase in visitor numbers in its most recent financial year allowing it to modestly reduce its annual losses. The park, which is jointly owned by the Hong Kong government and Walt Disney, with the government holding a narrow majority, reports a financial year to the end of September – and does so more than seven months in arrears. It has been loss-making for the past eight financial years and has made profits in only three years since its opening in 2005. The 2021-2022 financial year was again complicated by the city’s strict anti-COVID restrictions. It was fully closed for three and a half months (longer than the previous financial year) and operated under other social distancing and pandemic measures. Additionally, inbound tourism was heavily curtailed, especially from mainland China. That meant that during the reporting period, the park and hotels were largely visited by locals only.

Patrick Frater Asia Bureau Chief “Guardians of the Galaxy Vol 3” enjoyed a second weekend on top of the mainland China box office, as all top five placed films remained unchanged and audiences await “Fast & Furious 10.” “Guardians Vol 3” earned $19.0 million between Friday and Sunday, according to data from consultancy Artisan Gateway. That was a decent week-on-week hold, representing a drop of only 32% from its debut weekend, following a solid but unspectacular start. And it gives the film a total of $58.7 million after ten days in mainland Chinese theaters. Imax screens accounted for $3 million of the film’s weekend score in China and lifted the film’s Imax total in China to $10.4 million, which Imax calculates as 18% of its China total.