Elevator Pitch
I downgrade my rating for IMAX China (OTC:IMXCF) (OTC:IXCNY) [HKG:1970], a 68%-owned subsidiary of IMAX Corporation (IMAX) and the market leader in theater screening technology in China, from "Bullish" to "Neutral". IMAX China is a clear victim of the current coronavirus outbreak, but it is less affected compared with movie theater operators and movie studios because of its revenue structure. There is further downside risk to IMAX China's revenue for FY2020, if movie theater operators choose to defer new IMAX system installations. A "Neutral" rating for IMAX