Huayi buys into ticket site

Leading Chinese filmmaker Huayi Brothers Media Corp announced Monday that its Tianjin unit is planning to invest 266.4 million yuan ($42.91 million) in online cinema ticketing firm maizuo.com by taking a 51 percent stake.

The website is cooperating with some 700 movie theaters in more than 80 cities and offers diversified services to customers via mobile phones.

Until the end of 2013, the company reported an operating revenue of 58.96 million yuan and a net loss of 7.3 million yuan, according to a filing of Huayi Brothers on the Shenzhen Stock Exchange.