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Golden Harvest closes its 4 remaining cinemas amid industry upheaval in Hong Kong   Golden Harvest shut down all four of its remaining cinemas in Hong Kong on Sunday, including one that will not be leased to a new operator, leaving residents disappointed by the loss of another venue. GH Galaxy in Shau Kei Wan ceased operations, while Golden Harvest’s other three cinemas, Sky at Olympian City, StagE in Tuen Mun and GH in Tai Po will all be leased to a new operator from Monday. On its final day, GH Galaxy offered six showings across its two screens. By 5.30pm, the only sold-out showing was Behind the Shadows, a new release from June 12, with many empty seats in other screenings, particularly in the front rows.     “To be honest, I am not so surprised to hear about the closure,” Jason Chan, an architect in his thirties who lives a 10-minute walk away, told the Post at the cinema. “First, there are fewer and fewer screenings, and then there is no staff working here – only self-service machines now. I can feel it is dying slowly.” Chan expressed his regret but hoped a new operator might take over in the future. Another resident, who identified himself as Danny L, said he would miss the “human touch” of Golden Harvest cinemas. He noted that the chain often hosted events where film-goers could meet actors and actresses, while he also appreciated the friendly staff. “I wonder if we can organise some crowdfunding to support the neighbourhood cinema,” he said.   Golden Harvest has ended its more than 50 years of operating cinemas in the city. Photo: Eugene Lee   Shelton, a logistics worker in his forties, referred to GH Galaxy as a “home cinema”, contrasting it with larger venues such as Cityplaza in Tai Koo. “That one felt very different. It is inside a big mall with bigger screens, maybe good for major blockbusters,” said Shelton, who preferred not to give his full name. “But I can walk in casually for this one; it is cheaper with all the good facilities. It is very affordable for some drama films.” The closures mark the end of Golden Harvest’s more than five decades of cinema operations in Hong Kong. The company announced last Friday that it would conclude its cinema operations in the city as the leases expired on Sunday. Cinema vouchers, coupons and movie tickets will be accepted at the three cinemas taken over by the new operator until the end of August. This month, the 56-year-old landmark Grand Ocean Cinema in Tsim Sha Tsui also closed, followed by the closure of another venue at the MegaBox shopping centre. The latter will be replaced by a new cinema run by CineArt, scheduled to open next month with an upgraded design and facilities. So far this year, nine cinemas have closed in Hong Kong, including the latest four and three earlier ones operated by Golden Harvest. In 2024, nine cinemas closed, two of which were run by the operator.   Aside from all Golden Harvest’s branches, Newport Theatre in Mong Kok also closed this year, while the 37-year-old Grand Kornhill Cinema in Quarry Bay ceased operations in late May.   https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3316290/golden-harvest-closes-its-4-remaining-cinemas-amid-industry-upheaval-hong-kong

Golden Village Multiplex Pte. Ltd. has agreed to sell its Yishun 10 cinema property to Lion (Singapore) Pte. Limited, a wholly owned subsidiary of Frasers Property, for $48m. The deal, signed on 2 June 2025, includes a leaseback arrangement allowing GV to continue operating the cinema after the sale is completed, Orange Sky Golden Harvest Entertainment said in a statement. Lion has paid a 10% deposit of $4.8m, which will go toward the final purchase price upon completion. If shareholders do not approve the deal, the deposit will be refunded. If the buyer cancels for other reasons, the deposit will be forfeited. Join Hong Kong Business community   An additional $2m will be paid to GV if the buyer secures redevelopment approval within 12 months of completion. The property, located at 51 Yishun Central 1, #02-01, currently operates as a GV cinema. The $48m price matches a recent valuation done on 28 May 2025. All applicable GST will be paid by the buyer. GV said it is selling the property to improve its financial position and raise working capital. The leaseback lets the company continue business operations at the same location. The property had a book value of $45.08m as of 31 December 2024. The sale is expected to generate a gain of about $4.92m, assuming the additional $2m is received. Approximately 62.5% of the proceeds will go toward repaying existing bank loans, whilst the remaining 37.5% will support the group's operating needs https://hongkongbusiness.hk/news/golden-village-sells-yishun-10-cinema-frasers-subsidiary-48m