Sin move sprinkles a little stardust on film company

Shares of National Arts Group Holdings soared 55 percent at one point yesterday after its former chairman said he is seeking to become Hong Kong's next leader.

Checkley Sin's announcement pushed the shares of National Arts - a filmmaking company that also operates a wedding photography chain - to HK$0.135 before closing at HK$0.119. That was still a hefty 36.78 percent increase.

For the first nine months of 2021, National Arts reported a net loss of HK$164 million, with its share price dropping to 2.16 HK cents, though its revenue recorded a year-on-year increase of 183.8 percent to HK$75.33 million.

The company set up the Xiqiao National Arts Studio in Foshan, Guangdong, in 2015, benefiting from a project by the local government.

The studio, located in "an interesting spot," functions as a base to shoot films.

Sin resigned as chair and executive director of the company last year. He repeatedly reduced his stake - which is now down to 2.05 percent - from the 32.87 percent he co-held with his spouse.

themis.qi@singtaonewscorp.com