A Share Film And Television Industry "Survival Game" Under The Epidemic Situation: 22 Enterprises Are Losing More Than 1 Billion 700 Million Giants Competing For Financing.

As one of the most influential industries affected by the new crown pneumonia, the A media industry is experiencing a severe winter.

Up to now, 30 listed companies of Shen Wan culture media have announced the first quarter forecast in 2020. This has also opened up a corner of the media industry, which has lost 22 of the listed companies, of which 14 are the first ones, and the total amount of the loss is 1 billion 745 million yuan.

However, it is noteworthy that in 30 enterprises, there are still 4 enterprises in the opposite direction.

Overall, in the first quarter, under the influence of the epidemic, film and television, theaters and so on were most seriously affected. The three quarter losses of Wanda film, Jin Yi film and Huayi Brothers were over 100 million yuan, and only a few leading companies, such as Hua TSE and mango super media, showed strong risk resistance.

In order to get through the "cold winter" of film and TV under the epidemic situation, film and television enterprises have thrown out schemes to scramble for financing and enriching blood. For example, Wanda film has thrown out 4 billion 350 million of the fund-raising scheme for new cinema projects, and to supplement company liquidity and repay loans.

Tycoons suffered heavy losses

The first is the film and television theaters. The biggest loss of performance is Wanda film. It is estimated that the net profit attributable to shareholders of Listed Companies in the first quarter of 2020 will be -6.5 billion yuan to -5.5 billion yuan.

According to the Wanda film announcement, affected by the outbreak of the new coronavirus, since January 23, 2020, the company's theaters have been shut down due to the impact of the epidemic. Meanwhile, the film released on the Spring Festival of Wanda film and television program failed to be released as scheduled. During the forecast period, the revenue of the company's film projection dropped sharply, while the fixed cost expenditure was relatively rigid, resulting in a sharp decline in business performance.

There are also Jinyi movies. The company forecasts that the net profit attributable to shareholders of Listed Companies in the first quarter of 2020 will be -1.6 billion yuan to -1.45 billion yuan. Since January 24, 2020, the franchise cinema of Jinyi film and its Guangzhou Jinyi Zhujiang cinema line Co., Ltd. has all suspended its business.

Another industry line enterprise -- happy blue ocean also ushered in the first loss. It is expected that the first quarter loss will be 100 million yuan -1.05 billion. It also points out that its own cinema and franchise cinema have all been suspended, and it has not yet resumed business.

Many industry insiders predict that in the first half of 2020, movie theaters or enterprises could not get rid of the quagmire of operation.

"In March, the state of cinemas was still in progress. Although a very small number of theaters were open, the film was mainly replayed. There was no new movie to be shown. The box office receipts were basically negligible. In addition, the national film authority in March 27th warned all theaters not to resume their business. The film industry has not yet come out of the epidemic stage. Optimistic estimates suggest that theaters will be opened in late April, but the rhythm of normal business will be fully restored or need to wait until the second half of the year. Zhongyuan securities culture and media industry analyst Liu Ran pointed out.

In addition to the suspension of the cinema, a large number of film and video content production companies are also facing the challenges posed by the epidemic.

Huayi Brothers expect losses from 138 million yuan to 143 million yuan. During the reporting period, Huayi Brothers movies, cinemas and real entertainment revenues had a larger decline compared with the same period last year. The net profit of light media has been reduced by 56.33%-78.17%. The films originally scheduled for the Spring Festival and Valentine's day show "Jiang Ziya" and "buckwheat boom" have all been removed; the first quarter performance of Beijing culture is also expected to be 20 million yuan -3000 yuan.

However, in the adversity, there are individual movie production or Internet companies' performance upside down.

For example, the net profit for the first quarter is 100 million yuan -1.1 billion yuan, up 177.40% to 205.14% over the same period. The main reason is that the company has adjusted the market positioning and development rhythm of some projects. In the first quarter, it has recognized the income of many TV drama projects, and the derivative business of artists, music copyright, advertising and game authorization.

In the first quarter, the company also expects to earn 17 million 80 thousand yuan -2001 million yuan, an increase of 75% to 105% over the same period last year. However, this performance is mainly affected by non recurring gains and losses. If the non recurring gains and losses are deducted, Hua Lu Bo Na will fall into losses in the first quarter.

Hua Lu Bo Na admitted that although the company's shooting has been resumed, the new crown pneumonia epidemic still has some impact on the whole year's business project planning.

The film companies that really benefit from the epidemic are mango hypermedia. Its projected net profit has increased slightly by 2.89%~17.24%, mainly depending on its online video mango TV drive. As a major entertainment activity under the epidemic, the activity of the video platform in the first quarter is far more than that of other subdivision areas.

Competing for financing "enriching blood"

Due to the setbacks in business and the sharp decline in business, there has been a lot of concern about the cash flow of film and television enterprises.

Liu Ran said, "under the pressure of almost no box office receipts, the funds of some theaters can hardly support the pressure of cash outflow, the speed of industry shuffling may be accelerated, and the degree of concentration will increase; the content of film and television content companies will be faced with relatively large cash flow pressure without the box office income. Force.

In twenty-first Century, the economic report reporter noted that there were 5 enterprises in the 2019 annual report. By the end of 2019, the most abundant book money was light media, and the total amount of money was 2 billion 512 million yuan. On the evening of April 16th, the light media also issued a notice that it intends to use the idle funds to purchase financial products in the amount of no more than 2 billion yuan.

In addition, Hengdian film and television as of the end of 2019, although the book currency funds only 289 million yuan, but the company also announced that it intends to use no more than 1 billion 800 million yuan of its own idle funds entrusted financial investment and financial products.

The asset liability ratio is slightly higher and the cash ratio is slightly lower than that of the happy blue ocean. Its asset liability ratio and cash ratio are 48.16% and 0.39 respectively. By the end of 2019, the total amount of money in the blue ocean account was 448 million yuan, short-term loans were 35 million, accounts payable and other payable were 213 million yuan and 748 million yuan respectively.

However, it is worth mentioning that the 2019 annual report of happy blue ocean is due to the fact that the attribution period of accounts receivable impairment losses can not be determined, the quarterly turnover of operating income is large, the non recurring gains and losses are high, and the issuance cost is increasing.

In the face of the pressure of the epidemic, the economic news reporter noted in twenty-first Century that at present, some movie and television enterprises have joined the "blood enriching" army to replenish ammunition for the subsequent development.

As early as February 29th, Huayi Brothers announced the signing of the loan agreement with the actual controller and chairman Wang Zhongjun. The latter provided the listed company with 100 million interest free loans for a period of two years.

Ming Cheng, another listed company, has fully pledged all the shares of contemporary time to borrow 300 million yuan to the Northern Trust.

In addition, Wanda movies, jintin shares, contemporary orient and China wide natural selection have also issued refinancing plans.

Among them, Wanda film intends to raise funds of not more than 4 billion 350 million yuan, will be used for new cinema projects, and supplement company liquidity and repay loans; JJC shares will not raise more than 2 billion yuan for copyright operation and media operation projects and supplementary liquidity; contemporary Oriental intends to raise funds of not more than 650 million yuan for repayment of bank loans and supplementary liquidity. Over 490 million yuan for new media content production and operation projects, Ma Lan Shan video industry park headquarters base construction.

?