![]() Meanwhile, the father of one of the school’s students reveals himself as a Wing Chun master in his own right, changes allegiances constantly and eventually challenges Ip for Wing Chun supremacy. Ostensibly, Ip Man is tasked with saving his son’s school from a gang of bandits operating under orders from Frank, a foreigner played by Mike Tyson. Still, Ip Man 3’s action serves too many masters, couching otherwise great setpieces within a confused mess of a narrative. Those established tendencies bear out once more in Ip Man 3, the apparent final chapter in the series-but when Yuen Woo-ping choreographs for the lightning-fast Donnie Yen, it’s hard to complain about the prioritization of action. In these films, Ip Man is much more than a teacher-he’s a warrior who has, on several occasions, saved China from foreign influence with little more than his fists and an unshakeable calm. Previous installments have reduced the relationship between Ip and his most famous student, Bruce Lee, to little more than a cursory head-nod, marginalizing the grandmaster’s real life legacy in favor of a melange of superheroic ass-whoopings. Instead these films favor strong martial arts action and introspective melodrama. Xu Qi, the new chairman and CEO of Kuailu, said they would fully resolve the payment problem of wealth management products before March 31, 2018, the National Business Daily reported.The most admirable aspect of Wilson Yip’s Ip Man movies is their disinterest in typical biopic aspirations. Kuailu has committed 5 billion yuan in assets as collateral for the delayed payment. To resolve the issue, Kuailu said on April 6 at a press conference in Shanghai that it will merge and refinance Jinlu and Dangtian Wealth, another related wealth management company, and offer a payment plan to investors soon. Jinlu said they would suspend payments on some wealth management products jointly created with its partner Kuailu because of a 300 million yuan (US$46.41 million) cash shortage. Hundreds of investors gathered at Jinlu Financial Advisors' headquarters on March 30 to ask about delayed payments. Shenkai and other companies and platforms involved also suffered significant losses. As the "ghost screening" box office scandal broke out, Shifang Holding Ltd's stock price dropped by more than 50 percent. To make a greater financial gain from the movie, industry-watchers say the backers of "Ip Man 3" may have sought to inflate box office results to boost their companies' stock price. Shi had invested in a series of peer-to-peer lenders, and Kuailu's innovative approach to "Ip Man 3" was to make financial products in order to securitize its box office assets and raise funds from its peer-to-peer and crowdfunding platforms, based on box office expectations. 746 on the Hurun Report's 2015 China Rich List, with an estimated fortune of US$780 million, has expanded the company’s business into "innovative" film financing and distribution in recent years. Kuailu is a large private enterprise that was formed out of four old state-run enterprises in the 1990s. ![]() Shifang owns the rights to box office earnings from "Ip Man 3." Shi stepped down from his position as CEO and chairman of the company on April 1, citing “health issues.”īut the scandal has effects beyond just the movie industry. Shanghai Kuailu Investment Group, run by business tycoon Shi Jianxiang, is the controlling shareholder of Hong Kong-listed Shifang Holding Ltd. The fake box office figures will not count towards the film’s gross earnings. Seventy-three cinemas were also given serious warnings. The bureau said it had ordered Max Screen to suspend distribution for a month while it "rectifies all malpractices" and that it had given serious warnings to three electronic ticket-selling groups involved in the fraud. But things went downhill when movie fans and industry insiders began noticing that online ticketing services showed that unusually large numbers of "Ip Man 3" screenings were sold out and that ticket prices had gone as high as US$31.īeijing Max Screen, the film's distributor, later admitted to buying 56 million yuan's worth of the tickets itself and fabricating more than 7,600 screenings of the film according to the film bureau under the State Administration of Press, Publication, Radio, Film, and Television. "Ip Man 3," one of the most popular recent Kung Fu movies in China, dominated the film market on its opening weekend, grossing 470 million yuan (US$72.7 million). The companies behind the film "Ip Man 3" have experienced a series of setbacks after accusations of box office fraud. Mike Tyson and Donnie Yen star in "Ip Man 3," whose distributor has been punished for ticket sale manipulation.
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