Bona Film’s CFO to join PE fund

Mason Xu will stay with Bona until the completion of the NASDAQ-listed company's annual audit and annual report, which is expected to be filed with the US Securities and Exchange Commission by the end of April. After his departure, Xu will continue to advise the company to ensure a smooth transition, according to a company statement.

Xu has helped Bona established its finance team, as well as leading the company's overall financial management and internal control activities through its IPO in the US. During his time with the company, Bona has invested in several award-winning films include "A Simple Life", for which Deanie Ip won the Best Actress Award at the 68th Venice Film Festival last November.

In recent months, a number of private equity funds have been launched to finance China-based movie co-productions. These include government-backed China Mainstream Media National Film Capital Hollywood Inc and Harvest Seven Stars Media, an $800 million vehicle established by Chinese television production firm Sun Media Group and Harvest Fund Management.

SkyLand, the $100 million China-focused film venture backed by Hollywood entertainment firm Relativity Media, SAIF Partners and IDG China Media, has already begun production on its first picture. The venture is acting in partnership with state-owned Huaxia Film Distribution, China's second-largest player in the field.

 

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• Topics
• Greater China
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• China
• Harvest Fund Management
• SAIF Partners
• IDG Capital Partners