Chinese-language media reports that Huayi Brothers is selling its 90.5% stake in GDC Technology, the leading Asian cinema server and equipment vendor [PDF link to financial filing here]. Huayi announced on 3 September that it’s wholly-owned subsidiary Huayi International Investment plans to transfer all of its holdings of GDC’s 243,811,232 shares to Glena Holdings for USD $55 million. Once the transaction is completed Huayi will not hold any shares on GDC Technology. Huayi faced losses of CNY 200 million (U
Source: Huayi Bros To Sell Entire 90.5% Stake in GDC Technology – Celluloid Junkie