CHENGDU, Dec. 29 (NBD) -- Stocks of the film and TV sector plunged worst in the A-share market.

From Jan. to Jun., the media industry, plunging 23.44%, ranked last in terms of index performance among 28 Shenyin & Wanguo Level I industries.

As of Tuesday, the media sector index hit 1221.58 points all way down from 1637.15 points on Jan. 4^th former this year, a decrease over 25.38%.

Yin Zhongyu, the general manager of M&A department of Great Wall Securities explained the reason behind the overall downturn of film and TV stocks. Yin said, firstly, too many acquisitions in film and TV sector last year and earlier this year provided adequate film and TV assets on the A-share market. Secondly, such acquisitions failed to accomplish the promised performance, which results in poor attraction in the market. Thirdly, restricted stocks held by investors became tradable one after another, causing offloading of film and TV stocks.

Despite the poor performance of film and TV stocks, film and TV companies remain the pursuit of venture capitals.

Recently, Bona Film completed its A-Round financing of 2.5 billion yuan (about 360 million US dollars) led by Alibaba Pictures and Tencent.