At the helms departure, Jackie Chan went to riddle to control the net profit slide.

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 At the helms departure, Jackie Chan went to riddle to control the net profit slide.


Wentous share price has fallen 77.24% this year, from 22.19 yuan per share in January to 5.08 yuan per share on September 14, with a total market value of only 9.3 billion yuan, far from the start of the year. Although the downturn in film and television stocks is the general trend, the problem of Venture Capital Holdings is far more than a tragic decline.

Wentou Holdingsperformance in the first half of the year was not very good, except for a double dip, the decline was even more tragic.

Wentou Holdings reported revenue of 836 million yuan in the first half of 2008, compared with 1.27 billion yuan in the same period of last year, a decrease of 34.54%, a net profit of 72.039 million yuan for shareholders of listed companies and a decrease of 97.94% for the same period of last year.

According to the companys material, Wen TAI HOLDINGSs current business is divided into three parts: film, video games and industrial investment.

Wentou Holdings insiders said: This years main film projects are in the pre-production and development period, there are many projects in the first half of the revenue has not been confirmed, the same period last year, the main filmKung Fu Yogarevenue 379 million yuan, which led to the first half of 2018 business revenue there is a significant decline.

In 2018, Wentou Holdings participated in a total of 11 movies, including A Good Play, Take My Brother Out, Elf Hostel 3: Crazy Holiday, Wind Curse and other films have been released, according to market performance, A Good Play and Take My Brother Out have a good response, and are low-input and high-output works. The box office of animated movie Curse of the wind did not meet expectations.

In the following years, Zheng Yijian and Chen Xiaochun starred in The Golden Brothers; Feng Xiaogang supervised and Yao Chen and Ma Yili starred in Find You; and Wu Jingyan starred in Say Goodbye and Dont Say Goodbye.

But company officials said: Most of these films are in the summer, some are showing, some are not showing, so can not be included in the first half of the revenue, can not be shown in the income.

A long-term investor of Venture Capital Holdings told reporters: In fact, the biggest drag of Venture Capital Holdings is not the first half of the film and television revenue is too small, but the loss of Yao Lai Studios. In the first half of 2018, Yao Lai Studios lost nearly 50 million yuan, which directly led to a sharp decline in the profits of Venture Capital Holdings.

In 2014, Yao Lai Studios contributed 147 million net profit, 225 million in 2015, 395 million in 2016 and 328 million in 2017, respectively. However, with the end of this years betting period, Yao Lai Pictures Citys results quickly reversed, the first half of the loss as high as 49.72 million, Wentou Holdings became the first to make losses.

Not only that, Wen voted holdings also continue to increase investment in new studios. According to the financial report, from the second half of 2017 to the first half of 2018, 48 new studios were opened, approaching 50% of the total number of studios. By the end of June 2018, 107 studios and 797 screens had been put into operation. The national ranking rose from 12th place in 2015 to 8th place.

Now the major courtyard lines are developing movie city, but Wentou Holdings into the industry for a short time, blindly venture into expansion, but will drag down the performance. The above article said that the controlling investor said.

As the saying goes, a good tree is good for the cool.

Over the past few years, Wentou Holdings has developed almost entirely because of its successful tie-up with Yi Jianhong, the actual controller of Yaolai culture, and movie star Jackie Chan.

Reporters learned that in August 2015, Wentou Holdings completed its 100% equity acquisition of Yaolai Culture Subsidiary Jiangsu Yaolai Film City Management Co., Ltd. at a price of 1.428 billion yuan and 2.320 billion yuan. As a result, Wen voted holdings became the controlling shareholder of Yao Lai movie city. At present, Yao Lai culture holds 16.35% stake in Wen investment holding company, which is the second largest shareholder of Wen investment holding company. The shareholders of Yao Lai culture include Jackie Chan. Therefore, Jackie Chan and Wen voted holdings can be bound to become their core competitiveness.

But the good news is not long, in April this year, Wentou Holdings announced that Qi Jianhong resigned from Beijing Wentou General Manager and subordinate companies for personal reasons.

Netizen Chen Ze (not his real name) told reporters: As the helmsman of the main business, Qi Jianhongs departure has a great impact on the companys film and television sector. In addition to the companys own business, it is also likely to affect Jackie Chans stay. The tie-up between Wentou Holdings and Jackie Chan is not just a stock-related one, but more because of the personal relationship between Jackie Chan and General Manager Qi Jianhong. The two have a long history of cooperation and deep friendship, and the tie-in between Wentou and Jackie Chan is also bridged by Qi Jianhong.

According to the China Journal in 2018, films such as Jackie Chans China Journey, My Diary, Wishing God Dragon and Pu Songlin are still on the list of Wentou Holdings, but many of the projects start early and the relationship with Jackie Chan is likely to change later.

For Wen Ping holdings, concerns are not just about the two things that performance and core figures are leaving.

On September 13, Wentou Holdings announced that 282 million shares of the company held by Yao Lai Culture, the companys second largest shareholder, had been frozen in turn. The freezing date is September 11, 2018, and the freezing period is three years. As of the announcement date, Yao Lai Culture holds 303298800 shares, accounting for 16.35% of the companys total equity, of which 303298800 shares have been pledged.

According to reporters, this crisis is mainly due to the plaintiff Hangzhou Lima Science Equipment Co., Ltd. v. Yaolai culture folk lending. According to the announcement, the civil ruling made by the Peoples Court of Xihu District of Hangzhou City on the case of plaintiff Ma Wenping v. Yaolai Culture and other civil debit and credit disputes has taken effect.

In fact, this year, Yao Lai culture has been involved in disputes more than once. In April 2018, 303 million shares of Print Media held by Yao Lai Culture were frozen by the court for economic disputes, and then withdrawn by the plaintiff; in August, 280 million shares of Print Media held by Yao Lai Culture were frozen for a three-year freeze due to the notarization of creditors rights with Xiamen International Trust Company Limited. Once the dispute has not been resolved successfully, it is not ruled out that the culture of Yao Lai will be changed. Yao Lai Culture is actively contacting and negotiating with the plaintiffs to seek an early settlement of disputes through reconciliation, said Wentou Holdings Directors Secret Office. At present, the freezing and freezing of stock waiting has no direct impact on the daily operation and management of Venture Capital Holdings. If the debt is paid off or the dispute is settled, the 3 year freeze period can be lifted ahead of schedule. Hu Jinhua Yang Liu (probation) Shanghai report: Source: Chinese times editor in charge: Chen Shaojie _b6952

In fact, this year, Yao Lai culture has been involved in disputes more than once. In April 2018, 303 million shares of Print Media held by Yao Lai Culture were frozen by the court for economic disputes, and then withdrawn by the plaintiff; in August, 280 million shares of Print Media held by Yao Lai Culture were frozen for a three-year freeze due to the notarization of creditors rights with Xiamen International Trust Company Limited.

Once the dispute has not been resolved successfully, it is not ruled out that the culture of Yao Lai will be changed.

Yao Lai Culture is actively contacting and negotiating with the plaintiffs to seek an early settlement of disputes through reconciliation, said Wentou Holdings Directors Secret Office. At present, the freezing and freezing of stock waiting has no direct impact on the daily operation and management of Venture Capital Holdings. If the debt is paid off or the dispute is settled, the 3 year freeze period can be lifted ahead of schedule. Hu Jinhua Yang Liu (probation) Shanghai Report