It is worth noting that Huayi Brothers has lost net profit for two consecutive years. Affected by the epidemic, Huayi Brothers lost another 143 million yuan in the first quarter. Can this company, which is on the verge of delisting, reverse the situation in the second half of the year?
Chairman sells paintings and houses to save himself
In the past two years, Huayi Brothers have had a hard time.
In 2018, due to the influence of film and television industry policies and the box office of some films failed to meet expectations, the company lost 1.09 billion yuan in the whole year, and 3.96 billion yuan in 2019. The total market value dropped from 24 billion yuan at the beginning of 2018 to more than 129 yuan at the end of 2019, with evaporation of more than 10 billion yuan.
In the past eight years, Wang Zhongjun, chairman of Huayi Brothers, revealed at the summer summit of Yabuli forum in 2019 that he had been selling his collection of calligraphy and paintings in order to solve the companys shortage of funds. He said that he had auctioned off a painting he had bought for 110000 yuan many years ago at a price of more than 10 million yuan.
According to Wen Wei Po, Wang Zhongjun sold his mansion in Fuhui mansion in the middle of Hong Kong for nearly 220 million Hong Kong dollars this year.
The sudden outbreak of the epidemic in early 2020 will make Huayi Brothers, who are not rich, even worse. Novel coronavirus pneumonia reported a quarterly report this year, which resulted in a loss of 143 million yuan in net profit due to the heavy losses of the film and TV industry during the new crown pneumonia outbreak. If the company can not turn around this year, the company may face the risk of delisting. Eight hundred file, perhaps also Huayi back water battle.
Huayi reveals plans for the second half of the year
New film release or accelerate industry recovery
More than 10000 people want to see cats eye Professional Edition added on March 3
According to public information, the film eight hundred tells a sobbing story at the end of the battle of Songhu in 1937, bringing together a group of powerful actors such as Zhang Yi, Jiang Wu and Wang Qianyuan. Order to serve God is adapted from Neteases Yinyang master, starring Zhou Xun and Chen Kun. At present, both films have attracted much attention.
Film release plan revealed in 2019 Annual Report
According to the companys 2019 annual report, according to the plan, there will be 11 films including warm embrace and mobile phone 2 in 2020. In terms of TV drama and online drama business, it is expected that 15 TV series will participate in or release in 2020.
Everbright Securities believes that as the first blockbuster domestic new film after returning to work, 800 faces limited competition in film layout and box office performance, which is expected to accelerate the overall recovery process of the cinema.
Kaiyuan Securities Research Institute pointed out that since the return to work on July 20, the audiences willingness to watch movies has recovered well, or driven the subsequent new films to be released faster, while the new films accelerated the release or further driven the increase of viewing willingness and attendance rate, so as to construct positive feedback; the summer and National Day archives may be the best time for the head films, while the release of the head films may accelerate the box office recovery.