The global coronavirus pandemic isn’t just decimating the film and entertainment industry in the United States. Proving itself to be a truly global problem, the coronavirus pandemic has also resulted in China’s biggest cinema chain operator anticipating a loss in the hundreds of millions.

Variety reports that Wanda Film, China’s biggest cinema chain operator, has given word that they will be reporting a net loss anywhere between $214 and $228 million, owing to the long cinema closures in China brought about the coronavirus pandemic. This is a huge figure, especially when the company earned a $75 million net profit in the same period last year.

While cinemas have been closed in North America since March, Chinese cinemas have been closed since January. According to Wanda Film’s stock filing, all of their 600 cinemas in China have been closed for almost half the year. They also revealed that their operating income has decreased by “a big margin” when compared to last year.

The Hollywood Reporter also reveals that possibly making things worse for the Chinese company is its role as the largest shareholder of AMC Theaters, which runs movie theaters in North America. Wanda owns 49.85 percent of the outstanding common stock of AMC.

While Wanda made no mention of AMC in their filing, the theater chain has already reported a $2.2 billion loss, raising bankruptcy concerns. Theaters run by AMC have been closed since March, and reopenings have been moved again and again as a response to changing premiere dates of Hollywood blockbusters.

Movie theaters in China have had an equally bumpy road to reopening, according to The Hollywood Reporter. News of a reopening first started gaining momentum back in March, with Beijing authorities supposedly planning a province-by-province reopening. However, fears of a second outbreak resulted in cinemas closing once again.

May 8 was then announced by China’s State Council as the date for the reopening of venues like movie theaters and live music venues. However, no guidelines were announced and theater owners ended up not reopening. After the discovery of coronavirus infections at a food processing plant on June 11, movie theaters were once again ordered to stay closed.

The latest rumor pegs the cinema reopening date near the end of this month, but no official announcement has been made.

While China has managed to control its infections, COVID-19 infections continue to rise around the world. The July 14 situation report from the World Health Organization states that the number of confirmed COVID-19 cases worldwide is now at 12,964,809 people. The number of deaths caused by COVID-19 is now at 570,288.